The Living Ledger
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The publication’s searchable memory: every dispatch, its first observation, and how the judgment moved.
Search the writing, follow revisions, or return to an argument as the market changes.
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Recorded judgments
Stop Bragging About Volume
A trillion dollar quarter and a well run dealing desk are two different achievements. Only one of them shows up in a screenshot.
Open 0 days
Valutrades just handed every affiliate manager a live case study
An FCA broker went from open for trading to force liquidating positions in two weeks. Here's what your program needs to survive that.
Open 2 days
The Fine Isn't the Broker's Problem
A licensing deadline three weeks out turns every crypto CFD affiliate banner into a liability with your name on it, not legal's.
Open 4 days
Nigeria just invoiced the grey market
$2.3 million, a Nigerian director, and a ban on referral incentives. Every other frontier market is reading the same PDF.
Open 8 days
Your Best Affiliate Has a Traffic Problem
AI search is answering the queries your comparison partners rank for. Run this audit before you approve next quarter's affiliate spend.
Open 16 days
Singapore Just Put Affiliates in the Same Sentence as the Platforms
A new order under the Online Criminal Harms Act names affiliate marketers, influencers, and PR agencies right alongside the platforms. This is the first jurisdiction to close that loophole — it won't be the last.
Open 23 days
Buy It or Bank It
One CFD broker grew profit 150% by outspending everyone on marketing. The other handed shareholders more cash than it earned. Both are calling it strategy.
Open 25 days
Nobody's Automating the Fraud Check
Adjust and AppsFlyer catch the obvious stuff. Cookie stuffing isn't on that list, and regulators just made it your problem.
Open 28 days
Cyprus Isn't Dying. It's Just Getting Raided.
CySEC's on-site sweeps, the UK's affiliate ad ban, and a stalled US crypto bill — three signals for where your license actually needs to be this quarter.
Open 32 days
The ARPU Gap Nobody's Reporting
G makes 9x what XTB makes per client. NAGA just proved the fix — and CySEC is now auditing why the rest of the industry hasn't.
Open 35 days
The Filter
Why "Claude or GPT experience" just became a hiring requirement — and what it means for anyone still cold calling manually
Open 39 days
IG Group Just Picked a Fight It's Losing
$1.3B buys you a distant third place behind Kalshi's 90% and Polymarket's lawsuits — here's why that's the smart bet, not the desperate one.
Open 42 days
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