Always Respect A Sources’s Privacy

By | Feb 22, 2019

Always Respect A Sources’s Privacy

I always forget exact rules about “off the record”, “background”, & “deep background” for journalism.

Question: “Mike, why did your journalism career end?” See above; kidding.

But you want to respect a sources’ privacy; it’s important. So let’s do that.

I heard a comment that made me double take. Someone mentioned a prominent US trading entity active on all the big traditional exchanges was now regularly doing “hundreds of thousands of dollars in crypto exchange-fees per day now”. And recently they “went over a million dollars in fees for the first time ever in a single day”.

That’s a lot to take in at once. Why did this give me pause?

One: everyone is going crypto. I don’t mean banks or hedge funds. I mean prop firms. And I mean everyone.

Two: A million dollars in fees is a gargantuan amount of trading volume. You can assume those fees are highly discounted already, too.

Three: “A million dollars” isn’t just a funny movie line – it’s funny from the standpoint that exchange volumes tend to exhibit parabolic growth. They go straight up, usually. In five years, the volumes will be much higher (fees could fall, but that’s economics at work).

Four: Traditional exchanges can’t be oblivious to their most important clients having a side hustle now. There will be ramifications.

2019-02-22T13:01:40-05:00February 22nd, 2019|

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