In my last post, I debunked the myth of the "reserve pool" of British workers. In this post, I discuss three more labour force myths that refuse to die: the myth of the "tide of unskilled immigration" ...

What do you do when your economy is in the doldrums and you need to kickstart growth? Why, you put more people to work, that's what you do. This has been the Tories’ strategy since 2010. The sustained ...

My latest Coppola Comment post reflects on what we mean by "demons". Are they really the evil spirits of myth? Or are they a metaphor for something else - something all too human, and for many people, ...

Silvergate Bank died yesterday. Its parent, Silvergate Capital Corporation, posted an obituary notice (click for larger image): Silvergate Bank bled to death after announcing significant delay to its ...

This is the story of a bank that put all its eggs into an emerging digital basket, believing that providing non-interest-bearing deposit and payment services to crypto exchanges and platforms would be ...

I haven't written a post about WASPI for a very long time. I felt I had said everything I wanted to say, and it had become evident that the WASPI campaign and its offshoots had neither the widespread ...

If Binance were a public company, its share price would be tanking. Binance will no doubt look for alternative stablecoins to back its home USD stablecoin. Perhaps the most obvious candidate is USDT, ...

The U.S. Examiner's report reveals deep and long-lasting insolvency, concealed by layer on layer of fraud. Whether Alex Mashinsky, Celsius's founder, owner and CEO, knew that the devices he used to ...

Today, I bring you the sad tale of a crypto lender that promised safety and high returns to its depositors, but whose promises have proved to be as hollow as its name. Donut Inc., a self-proclaimed ...

It works brilliantly. So, this becomes Joe's business model. Customer assets deposited on the exchange are routinely lent to the hedge fund against collateral consisting of the exchange's tokens.

There's a new asset called "customer crypto assets" worth some $88.45 bn, matched by a new liability called "crypto asset liabilities". This asset and its associated liability are by far the biggest ...