Tag Archive for: mismatch

Sam Bankman-Fried FTX’ed Up

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Sam Bankman-Fried FTX’ed Up

You can listen to the audio version of this article here. Last week the cryptocurrency exchange FTX, which was recently valued at $32 billion, imploded. While the tragedy continues to play out, let’s summarize what has happened so far: FTX is a cryptocurrency exchange, co-founded by Sam “SBF” Bankman-Fried. FTX enables customers to make leveraged […]

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Why Duration Mismatch Will Always Fail

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Duration Mismatch

I have written a number of pieces on fractional reserve banking and duration mismatch.  I have argued that the former is perfectly fine, both morally and economically, but the latter is not fine.  I have dissected the arguments made against fractional reserve banking, and pointed out that it is nothing more than a bank lending […]

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