Remember when I told you Binance has a target on its back? It might not be in the US, but its partner on a stablecoin sure is. And if regulators can’t hit Binance, they can hit its partners.
Paxos not only has to stop issuing BUSD, its Binance-affiliated stablecoin, the SEC may take action against it: a Wells Notice suggests the agency thinks BUSD is an unregistered security.
Oh, and Ansbacher’s parent company is FTX-affiliated Deltec. Cool! Also:
The stablecoin has never publicly disclosed its relationships with Capital Union, Ansbacher or Cantor Fitzgerald. The full breakdown of Tether reserves and their distribution to banking partners remains unknown.
I am not kidding:
“Without telling you too much about what happens in the future, there’s a character who is the antithesis of Dom who is promoting AI and driverless cars and a philosophy that with that goes your freedom,” [Vin] Diesel said. “There is somebody that believes that’s the future, and that’s at direct odds with the Toretto mentality.”
And who does Diesel want as the villainous self-driving mogul? None other than Tony Stark himself, Robert Downey Jr.
This breakdown of a near-collision between two planes in Austin is a hair-raising read. It is also a narrowly-averted disaster that has been predicted for the last 20 years.
Let’s prevent the next mass casualty event now, okay? Safety is a system, and the Austin airport needs better gear for flying in low visibility.
[fallows.substack.com]
The thing is, if you remove the blockchain nonsense, what Adam Neumann is pitching isn’t tech. It’s a co-op, which does not require crypto to function. At least it’s not glorified dorms, I guess.
But for me, the real comedy gold occurs when he calls his buildings’ residents “users.” Sure! Let’s see if he can survive the new interest rate environment.
It’s systems, baby! There’s a flowchart and everything.
So your stock portfolio, your fun little ETF and whatever else has elevated asset managers like Vanguard to king. And those asset managers make money no matter what the stock does, which is making market competition, corporate governance, and monetary policy a lot weirder.
A subsequent study from one of the same researchers found that, on net, the rise of BlackRock, Vanguard, and State Street has actually reduced prices across the economy. This makes theoretical sense. If an entity owns every firm within a single industry — and none outside it — then it is in their interest to promote collusion and price gouging. But if an entity owns every firm in every industry, the calculus changes: High prices in the airline industry reduce the profit margins of every corporation that needs to pay for business travel. The airline tycoon has an interest in collusion, but the universal owner has an interest in efficiency.
[Intelligencer]
Tumblr has been using its polls creatively — and it seems the most popular poll option in almost any poll is “vanilla extract.” Okay!
[Tumblr]
Scam hunter Coffeezilla decided to see if influencer Dillon Danis really meant what he said about feeling bad about people who got NFT scammed. So he set up an obviously-fake NFT project to see if Danis would promote it.
Personally, my favorite part of this was discovering the going rate for NFT project promotion. It’s very cheap!