Matt Levine’s Money Stuff: Coal Plants for Green Investors

Transition finance

I used to write a lot about crypto. The reason I liked writing about crypto is that it seemed to be rediscovering all of regular finance from first principles, quickly, in public. It was a fabulous laboratory for understanding financial structures. If you wanted a public demonstration of why, I don’t know, infinitely leveraged shadow banks were bad, you could wait 20 minutes and crypto would give you one. (One reason I write about crypto less now is that this has stopped: When FTX collapsed, a lot of the fun financial experimentation in crypto collapsed with it.)

Climate investing ...