The 'Widowmaker' Crypto Trade That Helped Blow Up an Industry
Odd Lots20 Jan 2023

The 'Widowmaker' Crypto Trade That Helped Blow Up an Industry

Over the last year, numerous things have gone wrong for the crypto industry. (Too many to list.) But one thing we've learned is that there's an incredibly high degree of interconnectedness between various firms, all borrowing and lending from each other in a way that created a tremendous amount of fragility. A key entity in all this is GBTC, the Grayscale Bitcoin Trust, which was one of the first regulated entities that allowed ordinary investors to get Bitcoin price exposure. Over time, this trust turned into a behemoth, with numerous players making massive leveraged bets on it. On this episode, we speak with Ram Ahulwalia, the CEO of Lumida Wealth, who explains how the fund works, how the trade worked for investors, and why it's ended in tears for so many players.

See omnystudio.com/listener for privacy information.

Episoder(1188)

58: Ignore Investing's Mathematical Underpinnings at Your Peril

58: Ignore Investing's Mathematical Underpinnings at Your Peril

What's the optimum amount of money you should bet on a particular outcome? The answer is dictated by mathematics, yet plenty of people still go against the laws of numbers and probabilities when it co...

9 Des 201625min

57: Was November the Start of a Huge Turning Point In Markets?

57: Was November the Start of a Huge Turning Point In Markets?

Something huge happened in November. No, we're not talking about the U.S. presidential election. We mean the worst month in history for the the Bloomberg Barclays Global Aggregate Total Return Index, ...

2 Des 201626min

56: How To Launch Your Own Form Of Money

56: How To Launch Your Own Form Of Money

By now you've probably heard of Bitcoin. But Bitcoin isn't the only digital currency. In fact, there are hundreds of "altcoins" out there, all of which are different from Bitcoin in varying degrees. O...

25 Nov 201624min

55: Here Are The Signs That A Civilization Is About To Collapse

55: Here Are The Signs That A Civilization Is About To Collapse

All great civilizations eventually collapse. It's inevitable. So what are the signs of their demise? On the latest edition of Odd Lots, we speak with Arthur Demarest, a professor at Vanderbilt Univers...

18 Nov 201628min

54: How Trump Did Something Yellen, Draghi Could Only Dream Of

54: How Trump Did Something Yellen, Draghi Could Only Dream Of

There's a lot to process from last week's U.S. election. One surprising thing already is the market reaction. Equities surged following the vote, and interest rates are sharply higher. Market measures...

11 Nov 201627min

53: Why We Stopped Trusting Experts

53: Why We Stopped Trusting Experts

One could argue that "expert" has become a bad word. People routinely roll their eyes at the advice of experts and sometimes mock them. Perhaps nowhere is this more clear than the Federal Reserve. In ...

4 Nov 201630min

52: What Math Models of Herding Cows Can Teach Us About Markets

52: What Math Models of Herding Cows Can Teach Us About Markets

Investors are often said to exhibit herding behavior when they follow each other into crowded positions — creating market bubbles that are susceptible to sudden pops when everyone begins stampeding fo...

28 Okt 201631min

51: Why Everyone Is Freaking Out About Globalization

51: Why Everyone Is Freaking Out About Globalization

Dani Rodrik, a professor of International Political Economy at Harvard University, was writing about the downside of globalization before it was cool. The rise of Republican presidential nominee Donal...

21 Okt 201633min

Populært innen Business og økonomi

stopp-verden
lydartikler-fra-aftenposten
dine-penger-pengeradet
rss-penger-polser-og-politikk
e24-podden
rss-borsmorgen-okonominyhetene
pengepodden-2
tid-er-penger-en-podcast-med-peter-warren
pengesnakk
livet-pa-veien-med-jan-erik-larssen
utbytte
stormkast-med-valebrokk-stordalen
morgenkaffen-med-finansavisen
lederpodden
rss-markedspuls-2
rss-sunn-okonomi
rss-pa-konto
finansredaksjonen
stockup
boligbobla