The text is a response to a request for retraction from a bank CEO regarding a piece written about debanking. The author, a crypto skeptic, defends the accuracy of the piece and explains the reasons behind the allegations made in ...
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The blog post discusses Tether's troubles in November 2022, highlighting the insolvency and risk management issues. The author points out that Tether's reserves are insufficient and that they have a history of deceit and prevarica...
The blog post discusses Tether's financial situation, highlighting its history of deceit and undercollateralization. The author claims Tether's reserves are not fully backed, as evidenced by their own reports and settlements with ...
Apple has announced changes to its App Store policies, particularly regarding 'steering', which allows developers to inform users about out-of-app payment options. This change is significant for app developers, especially in the g...
The blog post discusses the efforts of VaccinateCA, a non-profit organization, in gathering and providing the largest and best public data set on COVID-19 vaccine availability in the United States. It explains how the organization...
The author discusses his experience working at Stripe for the past four years, including the challenges of working as an employee, experiencing hypergrowth, and balancing career and personal life. He also talks about the changes h...
The author, a software engineer and entrepreneur, conducted an independent research project to project the default course of the coronavirus epidemic in Japan. The public consensus up to mid-March was that Japan was weathering the...
The blog post explains the concept of 'dropping a hash,' an idiom in the security community used to demonstrate the provenance of documents. It provides a layman's explanation of cryptographically secure hashes, such as SHA-512, w...
The blog post is a copy of the white paper of the Working Group, a group of four pseudonymous professionals in Tokyo, written by Patrick McKenzie. It discusses the covid-19 situation in Japan, highlighting that Japan's true count ...
0Tether: The Story So Far | Kalzumeus Software
2019-10-28 •
The blog post explains the story of Tether, the internal accounting system for the largest fraud since Madoff. It describes the dominant use case for cryptocurrency, the architecture of the cryptocurrency ecosystem, Bitfinex's his...
The blog post explains how discount brokerages make money, focusing on payment for order flow, net interest, commissions, asset management, securities lending, and regulation NMS. It discusses the main functions of discount broker...