"...Failed to monitor more than 30mn transactions worth over €176bn, about 31% of all deals through its European entity." And this is the crypto exchange that touts its belief in regulation. www.ft.com/content/21f1...

The inability of the EU to understand the derivatives market never fails to impress but going after a deal of little consequence struck 26 years ago is some going. www.ft.com/content/dbe8...

lol

Of all the many details in this brilliant piece on the insane Saudi Neom project, I think this is my favourite. The graphics alone make it worth a click. ig.ft.com/saudi-neom-l...

Fun offshore dollar market updated factoid: in the year to end-June 2025, offshore dollars increased by ~ $1.42 trillion (about $ 91 billion for stablecoin market cap over the same period, for comparison)

How big are these coach and horses that they can be seen from space?

I'd forgotten about this but looks like it's coming to pass

"Unlike the dotcom bubble this AI investment cycle is being funded with equity and not debt" www.ft.com/content/82f6...

Coinbase CEO - supposedly spur of the moment - knowingly drops words people were betting in prediction markets that he'd say on the earnings call. Is it insider trading? Market manipulation? Something else? Nothing? Feels like something but can't put my finger on it. x.com/brian_armstr...

A brilliantly clear-eyed view on how dollar stablecoins might impact the Fed’s operations: @davidbeckworth.bsky.social Barbarians at the Fed's Gate: Stablecoins are knocking and the Fed is letting them inside macroeconomicpolicynexus.substack.com/p/barbarians...

Really starting to see the impact of America’s slide into a low trust, post morals society bubble up in these private market kerfuffles. Just everyone trying to get theirs, by any means possible www.wsj.com/finance/blac...

Lord give me the confidence to use EU competition laws to sue after being prevented from joining a project designed to curb competition. www.ft.com/content/f04f...

Good Lord, I never thought I'd see the day.

There's profit warnings and then there's serious profit warnings. This is the latter. It's not everyday you see a $70bn company heading for a 40% drop.

That was fast: One week after Trump pardoned Binance founder CZ, & Binance's US subsidiary is promoting trading of a stablecoin issued by Trump's crypto company World Liberty Financial.

Thankfully no potential conflicts of interest here at all

Capitalism with American characteristics

The WSJ editorial board goes to town on the CZ pardon. "Readers can decide if they think the pardon had nothing to do with the investment, but it sure looks like a conflict of interest." www.wsj.com/opinion/dona...

As ever, question is: how? If you assume they've had $180bn in 3m T-bills all year (they haven't) at 4.5% (it's not been that high), you still don't get near $15bn. As there's no audit, my guess is m-to-m on gold and BTC holdings. www.bloomberg.com/news/article...

Reading about WH extension, I came across the story of the Bonwit Teller building, which made way for Trump Tower. Fascinating story from 40 years ago, a forerunner. envisioningtheamericandream.com/2024/04/15/t...

Jimmy Carter watched over 480 movies in the White House movie theater during his presidency, a lot of them all time bangers (List here gizmodo.com/every-single...)

This is wild. Crypto miner was looking to raise $300m, Google came in and said “oo this sounds a bit AI data centery maybe we have a use for you” next thing >$3bn in junk bonds!

Perhaps these folks should set up a crypto business as a hedge against potential conviction www.ft.com/content/685d...

The CZ pardon has been coming but don't be surprised if there's one for Binance the company too. Can an entity be pardoned? Apparently so. This president already did it with BitMex and OzyMedia. With it, the final serious barrier to Binance going into the US market falls.

But of course

I often wonder how this episode would have played out if UK citizens had been shot by the UK army on UK soil, and the incident took place in, say, Leicester. But then, it would never have happened in the first place. www.ft.com/content/3380...

Asbestos. I’m sure that in the Trump administration’s carefully-considered demolition of the East Wing of the White House (a structure largely built in 1942), they’ve remembered to safely remove any asbestos.

"$2,700 smart beds" Fed's gotta hike

Still fascinated by this crypto treasury merger. In the month or so since the deal was announced buyer shares down 80%, acq target off 20%, price of asset being purchased down 6%.

Beyond Meat just crossed <1 billion shares> of volume and has traded more dollars today than Apple. Microsoft, Amazon and Google what inning is that?

Ouch

Exclusive: The NHL has reached licensing agreements with prediction-market startups Kalshi and Polymarket, boosting their efforts to disrupt traditional sportsbook operators such as DraftKings and FanDuel.

Gold above $4,300.

When that meeting turns dull and you switch to texting on your phone

Also, there's not even a single stock exchange in Germany

Sigh. We've been over this. -EU antitrust will block it, unless it has a major overhaul -France and Germany would both want an exchange based on their turf. - There's issues on settlement, trading x-border on primary markets but first two are major hurdles. www.ft.com/content/040f...

ALTMAN, 10 months ago: "I'm proud that we don't do sexbots to juice profits." www.reddit.com/r/artificial...

It'll be a major surprise if the real thing isn't sprayed in gold.

It probably isn't going to grab huge attention but this is the one of the big US crypto exchanges buying a licence so it can trade derivatives. www.investegate.co.uk/announcement...

The great thing about cryptocurrencies is that they strip banks of their power to create money thereby making the financial system more stable and.....oh finance.yahoo.com/news/paxos-a...

Asked whether the FT’s calculations on his family’s profits were broadly accurate, Eric Trump said the true figure was “probably more”. www.ft.com/content/2ea2...

Sounds very much like it: the most expose company from the SVB failure was Circle

I wouldn't be surprised if it were a narrow bank, involving stablecoins. www.ft.com/content/202d...

Talk of creative debt, "debt partnerships", no concerns about profitability, a fuzzy five-year horizon, cashing in on its IP (but others' IP is free?) and: "I don’t view them as drunken sailors going to bars and laying down IOUs everywhere". www.ft.com/content/a169...

A week later and gold is now at $4200. www.ft.com/content/ed7f...

And I thought it was the CIA's job to meddle with South American elections www.ft.com/content/c1cf...

THE SILVER SQUEEZE

No one does. fintechdystopia.com/chapters/cha...

Another not so stable stablecoin. Ethena briefly loses its peg in the crypto market rout in the wake of the Trump China tariffs.

This is on Polymarket, currently offshore, but planning to go onshore in the US.