Wells Fargo signage on May 5th, 2021 in New York City. Bill Tompkins | Michael Ochs Archives | Getty Images Wells Fargo shares rose on Friday after the bank posted quarterly revenue that exceeded anal...
Tag: Banks
JPM earnings 4Q 2021
JP Morgan CEO Jamie Dimon listens as he is introduced at the Boston College Chief Executives Club luncheon in Boston, Massachusetts, U.S., November 23, 2021. Brian Snyder | Reuters JPMorgan Chase post...
Switzerland Completes Testing with Key Banks
The Swiss National Bank has completed testing the circulation of the digital franc in the financial system. They partnered with the country’s key banks to get the job done. Bloomberg reports that Swit...
Citi to sell consumer banking operations to UOB in Malaysia, Indonesia
A Citibank branch in New York, U.S., on Friday, Jan. 7, 2022. Victor J. Blue | Bloomberg | Getty Images Citigroup will sell its consumer banking businesses in Indonesia, Malaysia, Thailand and Vietnam...
Biden to nominate Sarah Bloom Raskin as vice chair for supervision at Fed
Sarah Bloom Raskin, in her role as Deputy Treasury Secretary at the Treasury Department in Washington, October 2, 2014. Yuri Gripas | Reuters President Joe Biden will nominate Sarah Bloom Raskin to be...
Crypto exchange Gemini pushes into wealth management with acquisition of BITRIA
David Abner, Gemini’s Global Head of Business Development. Source: David Abner Gemini, the $7.1 billion crypto exchange, is getting into wealth management with the acquisition of a digital asset...
Tinkoff Bank’s Parent Firm Wades into Crypto with Aximetria Purchase
Despite the strict stance of Russian market watchdogs over the digital currency ecosystem, TCS Group, the parent company of private Russian bank Tinkoff has made a majority acquisition in Aximetria, a...
Consortium of U.S. banks looking to launch bank-issued stablecoin
A consortium of U.S. banks or “an association of FDIC-insured financial institutions” including New York Community Bank (NYCB), NBH Bank, FirstBank, Sterling National Bank, and Synovus Bank is set to ...
US Banks Form Consortium for a Stablecoin Launch
Four United States licensed banks formed a consortium to launch a bank-minted stablecoin, called USDF. This, according to them, will challenge the stablecoins that are mostly non-bank issued. Dubbed U...
U.S. Banks Form Consortium to Mint USDF Stablecoins
The USDF Consortium is an association of Federal Deposit Insurance Corporation (FDIC) insured financial institutions that launched on January 12th. The founding members of the consortium include New Y...
Over half the Banks in Switzerland want to offer Crypto to Clients within the next three years
Cryptocurrencies are beginning to receive a warm reception among Swiss banking institutions. According to a survey, more than half of banks in Switzerland are considering offering crypto investment se...
Consortium of U.S. Banks Proposes “USDF” Stablecoin
Key Takeaways A group of U.S. banks has formed the USDF Consortium, which has the goal of creating a bank-backed stablecoin. The Consortium says it wants to offer a “more secure” stablecoi...
Fed Chair Defends Blocking Wyoming Crypto Banks, Including Kraken
In brief Senator Lummis accused the Fed of unfairly shutting out Wyoming crypto banks Fed Chair Powell said there are “good arguments” to include the Wyoming banks But Powell also defended...
Fintech start-up MX names new CEO as firm prepares for sale or IPO
Shane Evans, interim CEO of fintech platform MX. Courtesy: MX Fintech start-up MX has named Shane Evans its interim CEO as the company prepares for an initial public offering or possible sale, CNBC ha...
Dot-com bubble dynamic may drive S&P 500 above 5,500: Julian Emanuel
Market bull Julian Emanuel sees a dot-com era dynamic that could shatter the S&P 500’s record highs. In his first TV interview since starting at Evercore ISI, Emanuel told CNBC’s ̶...
Jamie Dimon sees the best economic growth in decades, more than 4 Fed rate hikes this year
Jamie Dimon said the U.S. is headed for the best economic growth in decades. “We’re going to have the best growth we’ve ever had this year, I think since maybe sometime after the Gre...
Bitcoin Boom: Central Banks Examining How To Launch Digital Versions Of Their Own Currencies
The crypto industry witnessed an advanced surge, with Bitcoin touching all-time highs. 2021’s beginning marked Bitcoin trading at $29,000, which reached $68,000 in October, up a 130% surge. MicroStrat...
The 4 Lowest P/E Stocks Among The Dow 30 Components
Missing puzzle piece, value and price getty With the Walt Disney Company DIS now trading with a price-earnings ratio at 143 and with Salesforce’s CRM p/e up there at 127, what’s the p/e for the Dow Jo...
New report reveals risks that CBDC service providers & central banks have to address
CBDC season could soon be coming, as China readies for the launch of its digital yuan and other countries also race to complete white papers or even pilot programs. However, a new report has made note...
Citigroup will terminate unvaccinated workers by Jan. 31, a first among Wall Street banks
Pedestrians cross a road in front of a Citigroup Citibank branch in Sydney, Australia, on June 1, 2018. Brendon Thorne | Bloomberg | Getty Images Citigroup will be the first major Wall Street institut...
Community banks will soon enable Bitcoin services to customers, thanks to NYDIG and CSI
Bitcoin is making even more inroads to mainstream adoption as smaller financial institutions are also showing interest. Powered by a partnership between Bitcoin-focused company, NYDIG, and core bank a...
Kazakhstan Shuts Down Banks, Internet Amid Unrest That Threatens Bitcoin Mining, Hashrate – Mining Bitcoin News
Measures imposed by authorities to quell mass protests in mining hotspot Kazakhstan are affecting cryptocurrency markets and the Bitcoin network hashrate. To deal with the civil unrest caused by risin...
How Coinbase Foiled The Theft Of A Half Million From An Elderly Man’s Bank Accounts
Scammers convinced a North Carolinian to cash in his bank CDs and transfer the money into bitcoin held in a Coinbase account. The banks didn’t block the suspicious transactions, but the crypto exchang...
AAVE Protocol- You Can Use DEFI to Earn More Interest Than Banks
Aave is a decentralized finance (DeFi) etiquette that supports lending & borrowing of cryptocurrency. While lending, they earn interest & while borrowing, they pay interest. The entire ‘lend’ ...
Banks in crypto: opportunities and challenges
2022 could be the year when banks finally enter the crypto sector. This is what Reuters claims. Why banks need to enter the crypto sector Bitcoin was born as a response to a crisis triggered by a bro...
Large Banks Are Beginning to Launch Crypto Trading Services in Response to Digital Asset Boom
After spending years on the sidelines, large banks are beginning to dive into the world of digital assets. Commonwealth Bank (CBA), the biggest bank in Australia, says it will be the first in the nati...
Reuters report predicts banks will need to answer crypto demand, but here’s the catch
As crypto goes increasingly mainstream, more Wall Street companies and banking giants are feeling the pressure to offer crypto exposure to their clients. However, they need a way to do so safely, with...
Stock Futures Rise and Tesla Surges as a New Trading Year Begins
Text size A Wall Street sign outside the New York Stock exchange (NYSE) at Wall Street on November 30, 2020 in New York City. ANGELA WEISS/AFP/Getty Images Stock futures were rising Monday, suggesting...
Banks Want in on Crypto this Year, but Obstacles Remain
With 2021 being a highly successful year for decentralised crypto in terms of popularity and value, obstacles remain for banks looking for ways to fight issues that differ from their core values and c...
Banks Forced by Central Bank of Israel to Accept Crypto Profits
Domestic banks in Israel were informed by the Central Bank of Israel that the profits generated by acts associated with cryptocurrencies must not be refused. A draft circular was dispersed by the Cent...