Monthly Archives: March 2023
Deposit drain from smaller banks into financial giants like JPMorgan Chase has slowed, sources say
(CNBC) The surge of deposits moving from smaller banks to big institutions including JPMorgan Chase and Wells Fargo amid fears over the stability of regional lenders has slowed to a trickle in recent days, CNBC has learned. Uncertainty caused by […]
Bitcoin is poised to blow up Africa’s $86 billion banking system
(CNBC) Block CEO Jack Dorsey and his top brass descended on Accra for the inaugural Africa Bitcoin Conference in December to talk about one of the most potentially disruptive and transformative alternatives to the continent’s existing financial system: bitcoin. Since […]
Odey backs UBS following Credit Suisse rescue
(CNBC) Crispin Odey has taken a bullish view on Swiss bank UBS Group’s controversial rescue of stricken rival Credit Suisse Group by investing 2% of Odey Asset Management funds in UBS shares, according to a report by Bloomberg. To read […]
Professional investors increasingly confident on crypto, says new study
(Hedgeweek) Professional investors are increasingly confident about investment opportunities in the crypto and digital asset sector over the short and long term despite recent market weakness, according to new research by London-based digital asset hedge fund Nickel Digital Asset Management […]
Financial Adviser Charged for Misappropriating More Than $1 Million From Current, Former NBA Players
(HedgeCo.Net) The Securities and Exchange Commission has charged Darryl Matthew Cohen, a former investment adviser at a large financial institution, with misappropriating more than $1 million from three current and former NBA players over a period of two and a […]
Hedge fund Modulo agrees $400m FTX repayment
(Hedgeweek) Hedge fund Modulo has agreed to repay 97% of the money that companies from Sam Bankman-Fried’s bankrupt FTX cryptocurrency empire paid to it during 2022, according to a report by Reuters, citing court documents filed on Wednesday. To read […]
Dow futures inch up as investors weigh bank troubles, Fed decision
(CNBC) Futures tied to the Dow Jones Industrial Average were near flat Thursday night as investors’ attention shifted from this week’s Federal Reserve meeting back to the U.S. banking system. Futures tied to the Dow added 23 points, trading near […]
TikTok CEO grilled by lawmakers from both parties on whether the Chinese-owned app can protect American privacy
(CNBC) “Welcome to the most bipartisan committee in Congress,” boomed Rep. Buddy Carter, R-Ga., speaking to the TikTok CEO Shou Zi Chew, a couple hours into a marathon hearing about the potential threat to U.S. consumers from the massively popular […]
Block shares plunge 15% after short seller Hindenburg says Jack Dorsey’s company facilitates fraud
(CNBC) Shares of Jack Dorsey’s Block plunged nearly 15% by Thursday’s close after short seller Hindenburg Research announced that the payment company was its latest short position, alleging that Block allowed criminal activity to operate with lax controls and “highly” […]
‘Can’t get their act together’: Crypto firms slam SEC, Washington for lack of clarity on rules
(CNBC) Crypto companies are frustrated at the U.S. government for its lack of clear rules for the industry and the Securities and Exchange Commission for its aggressive actions against digital currency firms, according to multiple executives who spoke to CNBC. […]
SEC delays private investment reporting rule vote
(Hedgeweek) The US Securities & Exchange Commission (SEC) has postponed a planned vote on a proposed new rule aimed at protecting the stability of the financial system by detecting risk in the $20 trillion private asset management sector. To read […]
Financial conditions are tightening after SVB’s collapse and could slow the economy, Powell says
(CNBC) Federal Reserve Chair Jerome Powell said Wednesday that the U.S. banking sector is strong but that the recent failure of some regional banks could cause ripple effects that slow down the economy. Powell described the banking system as “sound […]