Animal Spirits: The Crypto Blow-Up

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Goldman Sachs studies that its intra-day estimate of U.S. monetary situations from its financial-conditions index eased by over 50 foundation factors right now following the rally triggered by the October CPI print. That’s the third-largest single day decline on document.

— Nick Timiraos (@NickTimiraos) November 11, 2022

Good inflation print, nevertheless it’s all occurring for the flawed causes now (demand is falling very quick) and the Fed is approach behind the curve on all of it.

That is evolving right into a credit score story and rate of interest threat will shift to credit score threat.

Have a pleasant day.

– Zeroche Hedge pic.twitter.com/q85lu5noKP

— Cullen Roche (@cullenroche) November 10, 2022

Right now numerous consensus shorts have been quietly carted away toes first.
Goldman’s non-profitable tech basket was up 15.2%, the most important one-day transfer on document! pic.twitter.com/T3cG3Hc709

— zerohedge (@zerohedge) November 11, 2022

If there was a museum for ETF charts this one from @psarofagis ought to be hanging in it. Reveals ETF issuer market share by property, flows, merchandise, income and buying and selling. It is all there. Take pleasure in.. pic.twitter.com/SxpqQt97Mb

— Eric Balchunas (@EricBalchunas) November 8, 2022

The 2-year Treasury yield is all the way down to 4.353% right now and on tempo for its largest one-day yield decline since **September 2008**

— Gunjan Banerji (@GunjanJS) November 10, 2022

1/ I discovered proof that FTX may need offered an enormous bailout for Alameda in Q2 which now got here again to hang-out them.

40 days in the past, 173 million FTT tokens value over 4B USD grew to become energetic on-chain.

A rabbit gap appeared 🧵👇 pic.twitter.com/DtCyPspME0

— Lucas Nuzzi (@LucasNuzzi) November 8, 2022

Sequoia on SBF: “To do probably the most good for the world, SBF wanted to discover a path on which he’d be a coin toss away from going completely bust.”https://t.co/6fi5GnB0J7

— Samuel Lee (@svrnco) November 10, 2022

FTX during the last 18 months:

July ’21: Raises $900M at $18B
Oct ’21: Raises $420.69M at $25B
Jan ’22: Raises $400M at $32B
Jul ’22: Bails out BlockFi for $250M
Sep ’22: Buys Voyager for $1.4B
Nov ’22: Acquired by Binance

— Tanay Jaipuria (@tanayj) November 8, 2022

It’s spectacular how this simply retains getting worse

~$380 million of funds simply moved from FTX pockets — unusual for a Friday night time

Pockets: 0x59abf3837fa962d6853b4cc0a19513aa031fd32b

— Will Clemente (@WClementeIII) November 12, 2022

This needs to be one in every of most insane elements of this saga. FTX faking an order from the Bahama regulators to sneakily withdraw funds whereas every part was paused, solely to have the Bahama regulator say that FTX was mendacity! pic.twitter.com/slhMjoVLR3

— Coffeezilla (@coffeebreak_YT) November 13, 2022

This thread shall be our final critical one on the subject earlier than we return to our regular updates and shitposting

We now have one of many highest income/revenue/valuation per worker as any firm on the earth

— FTX (@FTX_Official) November 7, 2022

🚨 JUST IN —

The complete crew behind the FTX Future Fund, the Sam Bankman-Fried philanthropy, has resigned.

A holy-shit second on the earth of efficient altruism. pic.twitter.com/5YY886OdNh

— Teddy Schleifer (@teddyschleifer) November 11, 2022

The entire rattling level of crypto is so that you simply don’t need to say, “I’m wondering what that firm is definitely doing with my cash”

— 🤖 Leshner (@rleshner) November 8, 2022

Faber on CNBC: $16B in FTX consumer funds. $5B withdrawn earlier than chapter will not be clawed again. Restoration perhaps 10-20c on the greenback for the rest.

— ForexLive (@ForexLive) November 15, 2022

#Harrisburg builder: “October was the worst gross sales month in 12 years. No patrons, no gross sales.”

— Rick Palacios Jr. (@RickPalaciosJr) November 9, 2022

UPDATE

Among the many nation’s 400 largest housing markets, 219 have seen dwelling values fall off their 2022 peak. The typical decline being -2%.

One other 181 markets stay at their 2022 peak worth.

Supply: Zillow Dwelling Worth Index pic.twitter.com/nnisgTMHQg

— Lance Lambert (@NewsLambert) November 15, 2022

The Streaming Wars visualized 📈

As per yesterday’s earnings launch, $DIS has formally overtaken $NFLX‘s whole paying subscriber base. It is going to be very attention-grabbing to see what occurs once they each introduce their ad-supported tiers. pic.twitter.com/8tPJrW3Yy1

— Quartr (@Quartr_App) November 9, 2022

Over the previous three years (by Q1 FY23e), Disney’s Direct-To-Client (DTC) enterprise has generated cumulative working losses of ~$8.8 billion

— Alex Morris (TSOH Funding Analysis) (@TSOH_Investing) November 9, 2022

disney’s implied outlook for linear biz is rather more terrifying for the business than the benign and apparent feedback Iger made in 2015. right now you might have a speedy deterioration in subs, weakening advert market, and heavy funding in streaming, in opposition to rather more levered steadiness sheets.

— modest proposal (@modestproposal1) November 9, 2022

*DISNEY CLOSES 13% LOWER IN BIGGEST ONE-DAY DROP SINCE 2001

— zerohedge (@zerohedge) November 9, 2022

Elon Musk offered a minimum of one other $3.95 billion value of Tesla shares after buying Twitter

SEC filings Tuesday present Musk offered 19.5M extra shares

Musk offered virtually $22B value of Tesla shares in 2021. In 2022 he offered >$8B in April & one other ~$7B in Augusthttps://t.co/VkUoE1LovG

— Emma Kinery (@EmmaKinery) November 9, 2022

In keeping with messages shared in Twitter Slack, Twitter’s CISO, chief privateness workplace, and chief compliance officer all resigned final night time.

An worker says will probably be as much as engineers to “self-certify compliance with FTC necessities and different legal guidelines.”

— Casey Newton (@CaseyNewton) November 10, 2022

Loopy how a layoff of 11,000 folks at Meta is the No. 3 tech story of the week

— Alex Kantrowitz (@Kantrowitz) November 11, 2022

These classes have already been discovered w $FB / Libra / FinCen debacle.

If you’re a social community, with completely ZERO regulatory oversight, WHY IN GOD’S NAME WOULD YOU YOLO INTO FINANCIAL SERVICES WHERE YOU WILL BE HEAVILY REGULATED?????https://t.co/gXwl6yAc1x

— Justin M. Overdorff (@jmover) November 9, 2022

REDFIN LAYS OFF 13% OF STAFF, SHUTS DOWN HOME-FLIPPING BUSINESS

— *Walter Bloomberg (@DeItaone) November 9, 2022

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