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Ben Connault

@BenConnault

US equities. Personal account.

linkedin.com/in/benjamin-connault-490a16179
Joined August 2019
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Andrei Rublev Dir. Andrei Tarkovsky
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We all know that stablecoin issuers peg stablecoin prices. In this post I get into the nitty-gritty of how crypto exchanges like Binance also (informally) peg stablecoins, and the costs & benefits of these exchange pegs. jpkoning.blogspot.com/2022/1…
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Wife: did you forget to buy milk? Me: I am not entirely sure how this decision became made (Inspired by SBF on The Scoop)
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Shocking revelation!
unusual_whales (@unusual_whales) profile pictureunusual_whales
@unusual_whales26 Nov 2022
Buy now, pay later is driving Gen Z into debt, per Bloomberg.
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Double or Nothing
Barry Ritholtz (@Ritholtz) profile pictureBarry Ritholtz
@Ritholtz13 Nov 2022
Michael Lewis is working on a new book about Sam Bankman-Fried, FTX & Crypto - he has been embedded with SBF for 6 months + has been hard at work writing. Only one thing left to do: Come up with a name for the book (and movie): Best guesses?
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fiat@❤️
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Hey! Leave cheese alone!
Casey Donaldson (@caseyjdonaldson) profile pictureCasey Donaldson
@caseyjdonaldson29 Oct 2022
Bill Ackman doesn't drink caffeine or eat cheese because he understands you'll have to live a long time to beat Buffett. Ackman manages $7 billion with Pershing Square Capital Management. Here are his top 5 positions:
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"watches The Road with Viggo Mortensen every Sunday before market open" 😂
DepressedOptionsTrader, CFA (@account_blown) profile pictureDepressedOptionsTrader, CFA@account_blown16 Oct 2022
3hrs to market open. This week could be the week!
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Great to see IEX making new friends!!
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(found on linkedin linkedin.com/posts/george-ka…)
🧐
Stanislav Dolgopolov (@StanDolgopolov) profile pictureStanislav Dolgopolov@StanDolgopolov16 Sep 2022
Replying to @StanDolgopolov
4) Citadel Securities suggested that quoting increments and trading increments shouldn’t be the same and that a wholesaler could effectively undo such harmonization / mandatory tick size regime anyways by splitting a retail order in order to achieve some desired average price.
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but without bugs please
CZ 🔶 BNB (@cz_binance) profile pictureCZ 🔶 BNB
@cz_binance3 Aug 2022
Don’t get distracted. Keep building.
putting together the professional teams
rektdiomedes (@rektdiomedes) profile picturerektdiomedes
@rektdiomedes18 Jul 2022
Replying to @rektdiomedes
Kyle on Telegram responding to concerned creditors: 21/x
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Great article. Too many amazing anecdotes to quote.
BBC Breaking News (@BBCBreaking) profile pictureBBC Breaking News
@BBCBreaking10 Jul 2022
Massive data leak reveals how top politicians secretly helped Uber in its bid to disrupt the taxi market in European cities bbc.in/3nSwTQC
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"Drug users file class action lawsuit against their dealer, arguing that the drugs were illegal and that the dealer violated federal laws by selling the drugs to them."
web3 is going just great (@web3isgreat) profile pictureweb3 is going just great
@web3isgreat13 Jun 2022
Terra investors file class action lawsuit against Binance.US June 13, 2022 web3isgoinggreat.com/?id=ter…
Terra investors file class action lawsuit against Binance.US A group of people who put money into Terra (UST), the stablecoin that collapsed in May, have filed a class action lawsuit against Binance.US. Binance.US is a crypto exchange that operates within the US, managed independently from Binance, which is not available to US customers due to fears that it would run afoul of US securities regulations. The lawsuit argues that UST is an unregistered security, and that as a result, Binance.US was violating securities laws by listing it. The lawsuit also alleges that Binance.US misled investors, leading them to believe that UST was more stable than it actually was. More than 2,000 investors have joined the lawsuit.

ALT Terra investors file class action lawsuit against Binance.US A group of people who put money into Terra (UST), the stablecoin that collapsed in May, have filed a class action lawsuit against Binance.US. Binance.US is a crypto exchange that operates within the US, managed independently from Binance, which is not available to US customers due to fears that it would run afoul of US securities regulations. The lawsuit argues that UST is an unregistered security, and that as a result, Binance.US was violating securities laws by listing it. The lawsuit also alleges that Binance.US misled investors, leading them to believe that UST was more stable than it actually was. More than 2,000 investors have joined the lawsuit.

repositing this in light of today's DC circuit decision confirming Reg MDI so far it took about 18 months to complete the initial 6 months (generously, given the precarious state of the SIP2 data fees) a linear extrapolation takes the completion to December 2029
Ben Connault (@BenConnault) profile pictureBen Connault@BenConnault23 Dec 2020
Here is a sketch of the timeline for the implementation of Reg MDI (aka "NMS 2.0"). Assuming the most optimistic scenario like I did is completely unrealistic 🙂but it gives a good idea of the different steps and how long each of them might take.
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Doing the research / Writing the code First days of prod / after the first days
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Perfect illustration of why it is good to add some occasional jitter in nonlinear optimization! Love this.
Maddie McGarvey (@maddiemcgarvey) profile pictureMaddie McGarvey@maddiemcgarvey27 Mar 2022
My brother lived in Hawaii when this happened. His neighbor got into a bathtub with a mattress over his head, took a shot of whiskey, and texted his ex girlfriend that he still loved her in case they all died. False alarm on the nuke but they got back together! Love that story
Just lovely! Thanks @preraksanghvi
Prerak Sanghvi (@preraksanghvi) profile picturePrerak Sanghvi@preraksanghvi1 Mar 2022
“Security Master” refers to the list of securities known to a trading system on any given day. It sounds innocuous — how hard can it be? But it is! Read on to find out how we compile a US Equities secmaster each morning from free or inexpensive sources. medium.com/prooftrading/proo…
Proof Engineering: Security Master

Proof Engineering: Security Master

How we compile the US Equities security master every morning

medium.com
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Great article! Several interesting quotes and facts including "To bring enforcement action against Binance’s U.S. arm, the SEC would need to show that it has jurisdiction over some cryptocurrencies that BinanceUS has offered." To be continued for sure.
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