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# The Cover Curse Hits Bitcoin
- URL: https://www.yardeniquicktakes.com/the-cover-curse-hits-bitcoin/
- Published: 2022-11-14T02:27:21.000Z
- Updated: 2022-11-14T02:27:21.000Z
- Author: Ed Yardeni
- Tags: Cryptocurrencies, Bitcoin, front cover curse

Bloomberg BusinessWeek "asked the finest finance writer around, Matt Levine of Bloomberg Opinion, to write a cover-to-cover issue" of the magazine, "something a single author has done only one other time in the magazine’s 93-year history."

![](https://storage.ghost.io/c/16/ef/16efc0dd-240f-4f5e-9e01-d619d6fd4fd1/content/images/2022/11/capture-18.jpg)

The resulting [article](https://www.bloomberg.com/features/2022-the-crypto-story/?ref=yardeniquicktakes.com) is a well balanced guide to the crypto world. It is dated October 25\. The *BusinessWeek* article also once again demonstrates the curse of the front cover story, especially when it fills up an entire issue. Bitcoin closed at $20,305 on October 25\. It was down to $15,495 this evening.

Earlier this week, crypto exchange FTX had to pause customer withdrawal requests of about $5 billion. FTX lent about $10 billion of customers' funds to Alameda Research for trading purposes. FTX Chief Executive Sam Bankman-Fried is the founder and majority owner of both firms. According to [CoinDesk](https://finance.yahoo.com/news/bankman-fried-cabal-roommates-bahamas-220000971.html?ref=yardeniquicktakes.com), he ran a cabal of roommates in the Bahamas. "All 10 are, or used to be, paired up in romantic relationships with each other. That includes Alameda CEO Caroline Ellison, whose firm played a central in the company's collapse–and who, at times, has dated Bankman-Fried, according to people familiar with the matter." She is 28 years old without much experience.

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