News and insight for the digital economy, featuring breaking news on the future of finance including macro, bitcoin, ethereum, crypto and web 3.

Dec 21, 2024 · FDIC Warns 68 US Banks in Danger of Insolvency As Lenders Face $364,000,000,000 in Unrealized Losses

Nov 9, 2024 · The second-largest US bank by total assets says it’s preparing for significant losses due to ongoing regulatory issues. In a new filing with the U.S. Securities and Exchange Commission (SEC), Bank of America says it faces a “reasonably possible and estimable” loss of up to $800 million due to investigations from the Consumer Financial Protection Bureau (CFPB) and other federal regulators.

Nov 4, 2024 · “I’m bullish only in the sense that election uncertainty has caused people to derisk and cash to sit on the sidelines but the fundamentals have been good, earning seasons have been very good, the Fed is dovish and I don’t think it’s going to matter who ends up in the White House even if it’s a split Congress or a sweep, I think markets do pretty well either way.

Dec 22, 2024 · Veteran investor Tom Lee says investors are better off remaining bullish on markets despite the recent correction in equities and other risk assets.

Oct 19, 2024 · Wells Fargo confirmed a breach last month, stating an insider at the bank accessed and used customers’ information to perpetrate fraud between May of 2022 and March of 2023.. In letter sent to customers posted on the Office of the Vermont Attorney General’s website, Wells Fargo says the stolen data includes names, addresses, dates of birth, phone numbers, email addresses, social security ...

Dec 11, 2024 · Ripple Labs’ newest stablecoin product has received final approval from a prominent New York regulator. In a post on the social media platform X, Ripple chief executive Brad Garlinghouse says that Ripple USD (RLUSD) – the firm’s new dollar-pegged crypto asset – has been approved by the New York Department of Financial Services (NYDFS).

Dec 27, 2024 · The banking giants now account for 44% of all the industry’s profits, and when you combine the “Big Four” with US Bank, PNC and Truist – the next three largest banks – the seven institutions are reaping 56% of all the profits in the field, up from 48% in 2023.

Dec 31, 2024 · Deep-pocketed digital asset investors are gobbling up massive amounts of the leading meme token Dogecoin (DOGE). Trader Ali Martinez tells his 116,800 followers on...

Nov 22, 2024 · In the last seven quarters alone, JPMorgan Chase has paid a whopping $2 billion to settle a list of accusations against the banking giant, reports Wall Street on Parade. The bank has paid the sum to settle accusations of criminal misconduct, regulatory violations, market manipulation and alleged involvement in enabling Jeffrey Epstein’s sex trafficking activities, among other alleged legal ...