The Chamber of Commerce’s Botched Bet

Welcome to the Capital Note, a newsletter about business, finance, and economics. On the menu today: the Chamber of Commerce’s hedge, pruned, Coinbase, crytoptimists, combining the essence of two old crises to make a new one, and inflation. To sign up for the Capital Note, follow this link.

Feeding the Crocodile
Winston Churchill:

Each one hopes that if he feeds the crocodile enough, the crocodile will eat him last. All of them hope that the storm will pass before their turn comes to be devoured. But I fear greatly that the storm will not pass. It will