Hormuz And The Law Of Diminishing Returns: When Leverage Burns

Fauci Aide Pleads Guilty To Conspiracy That Shielded EcoHealth Records, Countered Lab-Leak Narrative Dr. David Morens, the longtime senior adviser to Dr. Anthony Fauci at the National Institute of Allergy and Infectious Diseases, pleaded guilty in Greenbelt federal court on Tuesday to conspiracy to commit offenses and to defraud the United States (18 U.S.C. § 371). The plea caps a records scandal that began with his own emails bragging about making federal documents disappear. According to the DOJ: After the NIH terminated the bat coronavirus grant, Morens and a co-conspirator pledged...

Bitcoin Tumbles As Strategy Slammed, Faces Massive $10 Billion Option Expiry Moments after the cash market opened, bitcoin plunged almost $3,000 in a matter of seconds to $58,000, on no news, sending the price to the lowest level since Sept 2024.  This was a strange move for bitcoin because while stocks do tend to move rapidly at cash open as that's when options restart trading (as we have noted, in recent months most investors are trading almost exclusively in options and avoiding the underlying securities completely), bitcoin trades within its own...