Jurisdictional gamesmanship is a common strategy for crypto businesses. Here is how it worked out for Binance and its CEO. Spoiler: poorly.
Previous issues of Bits about Money
The structural reasons why banks sometimes behave bizarrely in interactions with customers, like forgetting things which customers tell them.
A review of Zeke Faux's Number Go Up, with some bonus commentary on financial journalism and Tether specifically.
Credit card debt is the waste stream of consumer finance. The debt collection industry ends up being sordid, for complex structural and microeconomic reasons.
A brief retrospective on an attractive product First Republic used to offer, and a wider discourse on the banking crisis.
Many observe that banks seem to be blowing up due to predictable consequences of rising interest rates. How did we get here?
In the wake of the recent banking crisis, there is some attention to deposit insurance limits. Some products increase them; here is how.
We may be in the early stages of a banking crisis: why, what we're doing to avoid it, and what we may not get about it.
Card networks are legacy systems. Some bugs have persisted for decades, surprisingly, but they can be fixed. Stripe provides examples.
A brief overview of what money laundering is, what financial institutions do about it, and why.
Bits about Money's Early Adopter discount ends on January 31st, 2023.
Know Your Customer policies at financial institutions have more nuance than you'd expect.
Bits about Money now offers paid memberships. (Plus, a bonus essay on newsletter financial infrastructure.)
ATMs are connected to banks by networks which operate little-understood payment rails.
Credit cards have been in use for almost 75 years. Some long-ago decisions still cause consequences in the present day. But change is possible.
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I write roughly biweekly on the intersection of tech, financial infrastructure, and systems thinking. It's free.