The European Union’s ban on seaborne imports of Russian oil, along with the Group of Seven’s plan to cap prices of oil from Russia early next month won’t guarantee that prices for the commodity will s...
Tag: Banking
Senate Banking Committee eyes hearing on Sam Bankman-Fried’s FTX collapse
A key Senate committee could hold a hearing to investigate the collapse of crypto exchange FTX. The Senate Banking Committee is “working to schedule a hearing and details are forthcoming,” accor...
Sam Bankman-Fried, Tom Brady and Steph Curry named in lawsuit over FTX collapse
Sam Bankman-Fried, former CEO of bankrupt crypto exchange FTX, has not had a good couple of weeks. The crypto maven known as SBF has seen his company go bankrupt and his net worth drop by billions of ...
Opinion: The new bull market will be led by stocks in these three industries.
We don’t know yet if the recent rally kicks off a new bull market in stocks. But here’s a safe bet: Once the new bull market is here, entirely different groups will lead. It’ll be out with the old — t...
They pulled money out of FTX at last minute: ‘Thank God I dodged it twice’
As the FTX debacle started to unravel last week, a 26-year-old customer of FTX.US who lived in the New York City area faced a thorny dilemma. While he was concerned about the situation that was unfold...
Nouriel Roubini attacks Binance CEO Changpeng Zhao and says Kevin O’Leary should lose his role at CNBC over ties to FTX
“What are the 7 C’s of crypto? Concealed. Corrupt. Crooks. Criminals. Conmen. Carnival barkers. And finally, CZ.” That was famed economist Nouriel Roubini, a longtime critic of cryptocurrencies, attac...
U.S. Banking Community Launches Proof-of-Concept Digital Money Platform
A group of United States banks, including BNY Mellon, Citi, HSBC, Mastercard, PNC Bank, TD Bank, Trust, U.S. Bank, and Wells Fargo announced the launch of a proof-of-concept (PoC) project aimed at dev...
AgoraBank Ushers In The Future Of Banking
The finance industry has long been under the control of centralized corporations like banks, insurance companies, stockbrokers, etc., who operate as exclusive, profit-focused middlemen that people can...
Banking Heavyweights Start 12-Week Digital Dollar Pilot
A number of significant banks have started a pilot study with the Federal Reserve Bank of New York to see if it is feasible to use tokens that represent digital dollars to enhance the settlement of ce...
U.S. Banking Giants Start Digital Dollar Pilot
Alex Dovbnya This comes after the U.S. Treasury Department recommended issuing a digital dollar in September Citigroup, Wells Fargo, and other financial institutions are kicking off a new digital doll...
Signature Bank Provides Digital Asset Banking Update
Bank’s Deposit-Only Relationship with FTX is Less Than 0.10 Percent of Overall Deposits NEW YORK–(BUSINESS WIRE)–Signature Bank (NASDAQ:SBNY), a New York-based, full-service commercial bank, announced...
Senate Banking chair warns crypto could ‘crash our financial system’ following FTX collapse
Senate Banking Committee Chair Sherrod Brown, D-Ohio, is sounding the alarm on crypto following FTX’s collapse. “This year we’ve seen cryptocurrency values collapse by $2 trillion. 2,000 ...
Nu Holdings sees ‘sustained increase’ in customers; shares jump
Shares of Nu Holdings Ltd. NU, -2.03% jumped 14.7% after hours on Monday after the Brazil-based digital banking platform reported a surprise third-quarter profit and revenue that beat expectations, he...
Wells Fargo Faces Huge Fine After Latest Scandal
If you’re banking with the San Francisco-based mega-bank Wells Fargo (WFC) – Get Free Report, you’ve likely noticed that the company just can’t seem to stay out of hot water. The la...
Dear Tax Guy: ‘What happens if I sell my existing house to pay off the loan on my new home? How much tax will I owe?’
Greeting, readers. I’m Andrew Keshner and I’m the tax reporter for MarketWatch. I write about the controversies, open questions and best strategies about taxes. For the purposes of this new column, th...
Opinion: The floodgates are open for grandparents to super-size college savings for grandkids
If you’re a grandparent looking to save the day by helping your grandchildren pay for college, take a second look at a tax-advantaged 529 college savings plan before the end of the year. Rule changes ...
Binance CEO tweets regret at not shorting FTX token
The chief executive of Binance said he regretted not betting against the token tied to the failed FTX cryptocurrency exchange. Changpeng Zhao, the co-founder and CEO of Binance who is known by initial...
Russia’s VTB Bank Adds Digital Ruble To Banking App
45 seconds ago | 2 mins read Altcoin News Certain customers will be given the opportunity to conduct test transactions. The bank also showcased a functionality for purchasing digital financial assets....
‘What. H.’ — Sam Bankman-Fried’s latest tweets spark scorn as well as concern
The latest message from former FTX chief executive Sam Bankman-Fried left onlookers puzzled and alarmed after the swift decline into bankruptcy for the cryptocurrency exchange he founded. In successiv...
Fed’s Waller says market has overreacted to consumer inflation data: ‘We’ve got a long, long way to go’
Federal Reserve Gov. Christopher Waller said Sunday that financial markets seem to have overreacted to the softer-than-expected October consumer price inflation data last week. “It was just one data p...
Bankrupt Voyager Digital Looks for New Buyer After FTX Goes Under
Bankrupt cryptocurrency broker and lender Voyager Digital Ltd. said it has resumed its search for a buyer in light of the collapse of crypto exchange FTX, the firm founded by wunderkind Sam Bankman-Fr...
These money and investing tips can help you see this bear market more clearly
Don’t miss these top money and investing features: Sign up here to get MarketWatch’s best mutual funds and ETF stories emailed to you weekly! INVESTING NEWS & TRENDS Bitcoin owners are bellyaching...
FTX bankruptcy: Can account holders expect to get their money back?
FTX, the unraveling cryptocurrency exchange, has plummeted from its high-profile perch straight into bankruptcy court. On Friday morning, FTX and related entities including Alameda Research, its affil...
Opinion: Pain and losses in crypto will clear out the losers and strengthen the case for bitcoin
Cryptocurrency is a mess right now. And rightly so. I wrote about buying bitcoin for MarketWatch in 2013 when it was trading for $100, but I’ve spent the past year or so warning that most newer crypto...
FTX bankruptcy is ‘somebody running a company that’s just dumb-as-f___ing greedy,’ says Mark Cuban
Billionaire Dallas Maverick’s owner Mark Cuban recently offered his perspective on the implosion of crypto platform FTX late this week. “‘That’s somebody running a company that’s just dumb-as-fucking ...
Russia’s Digital Ruble Integrated Into Banking App – Finance Bitcoin News
VTB has become the first Russian bank to add the digital ruble to its mobile application. The integration is currently being tested with accounts set up for legal entities. Select customers will be gr...
Brokered CDs pay more than traditional CDs — should you buy them now?
When market volatility and inflation persist, retirees or those who are near retirement might be wondering where to put their money now. There are a variety of alternatives with a range of risks, so t...
Qualcomm, Nvidia Are Top Picks Among Semiconductor Stocks, Analyst Says
Text size For investors looking for near-term protection, Credit Suisse analysts said wireless-device specialist Qualcomm was their top pick. Dreamstime Semiconductor stocks have fallen far enough to ...