Matt Levine’s Money Stuff: Memecoin Pumps Are Just for Fun

Feb. 10, 2025, 7:00 PM UTC

Elsbeth

Programming note? Several readers alerted me to the fact that last Thursday night’s episode of Elsbeth, on CBS, was about (spoiler) a hedge fund manager who kills his identical twin brother out of sibling jealousy and also possibly to manipulate the price of cobalt. It featured this dialogue:

Elsbeth (main character who helps police solve murders): Hepson Capital took a big position on cobalt the day before Bill died.

Financial TV anchor character: And, what, you think that means that Peter Hepson knew his brother was going to die?

Elsbeth: Is it securities fraud if you trade on the ...

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