Economics

Rise and grind, plebs—corporations can’t get rich without you — Isn’t getting up before sunrise the best? The cool, the quiet, the hush. The purr of sleeping pets and loved ones. That sense of reverence and holiness and magic. Yeah. Nothing beats ignoring your body’s natural rythmns, setting an obnoxious alarm to ring you from rest, waking so early that…

The consequences? Unforeseeable — It was inevitable. We all knew that this was a matter of time. The consequences? In the short term, unpredictable but potentially cascading into more bankruptcies. In the long term, potentially disastrous for a specific industry in Crypto, to the point of destruction. What started as a “temporary” freezing of…

The one thing upon which the world’s major religions and most schools of philosophy are agreed are the perils and evil of human greed. Unfortunately, there are some people who didn’t get this particular memo. Take the Waltons, for example, the family behind the Walmart retail empire. According to the…

More bloodshed for the crypto industry is on the way — After FTX went bankrupt, BlockFi is officially insolvent. BlockFi had already been in trouble since the beginning of this year thanks to the collapse of Three Arrows Capital. In that time BlockFi has had losses of $80 million. FTX entered the case to rescue BlockFi in July and save it…

Cyclicality is a feature of financial markets but its extreme nature reflects itself a little more evidently in cryptos led by Bitcoin — The Cryptoverse was rocked earlier this month when one of the biggest crypto exchanges, FTX, squeezed by a liquidity crunch, declared bankruptcy. Binance CEO Changpeng “CZ” Zhao had tried to save its rival by purchasing it but pulled out after seeing its financial condition. The crash of FTX and its…