Day 1,237: margin call
The margin calls these platforms faced appear to have imperilled Alameda, the trading firm owned by Sam Bankman-Fried, and prompted the decision to use ftx customer funds to plug the gap.
Artwork of the day
Pages Of Marginal Drawings For Emperor Maximilian`s Prayer Book
Albrecht Durer
Date: 1515
Style: Northern Renaissance
Genre: miniature
Location: Private Collection
Word of the day
margin call: a demand to increase the amount of money or assets in a margin account because it has fallen below the lowest amount allowed
Quote of the day
“Psychologists call this habituation, economists call it declining marginal utility, and the rest of us call it marriage.”
― Daniel Gilbert, Stumbling on Happiness