Monthly Archives: April 2021
SoftBank invests $500 million in digital mortgage lender Better.com
(CNBC) SoftBank has invested $500 million in digital mortgage lender Better.com amid what has been a hot U.S. residential real estate and mortgage refinancing market fueled by record low interest rates. The news was first reported by The Wall Street Journal on […]
Bitcoin ETF coming ‘in a year or two,’ analyst says as SEC mulls applications
(Reuters) The Securities and Exchange Commission formally acknowledged a bitcoin ETF proposal from VanEck just two weeks ago, starting the countdown on its 45-day approval timeline. But seeing a bitcoin ETF approved in the next 30 days isn’t that likely, […]
Coinbase estimates Q1 revenue jumped nine-fold to about $1.8 billion ahead of public market debut
(CNBC) In preparation for its debut on the Nasdaq next week, cryptocurrency exchange Coinbase said on Tuesday that first-quarter revenue climbed about nine-fold from last year, driven by a historic rally in the price of bitcoin. Revenue in the period […]
Jeff Bezos says he supports a hike to corporate tax rate
(CNBC) Amazon CEO Jeff Bezos on Tuesday voiced support for raising the corporate tax rate but stopped short of saying he supports President Joe Biden’s plan for the increase. “We support the Biden Administration’s focus on making bold investments in […]
JPMorgan Chase CEO Jamie Dimon: Fintech is an ‘enormous competitive’ threat to banks
(CNBC) Jamie Dimon, JPMorgan Chase chairman and CEO, listed fintech as one of the “enormous competitive threats” to banks in his annual shareholder letter released Wednesday. “Banks … are facing extensive competition from Silicon Valley, both in the form of […]
Fed’s Brainard says the economy is improving but is still ‘far from’ where it needs to be
(CNBC) Federal Reserve Governor Lael Brainard said Wednesday that while the U.S. economic outlook has “brightened considerably,” it remains well away from the central bank’s goals. “Brighter outlook, but of course our monetary policy forward guidance is premised on outcomes […]
More alternative investment dollars to go to less liquid strategies and emerging managers
(Opalesque) U.S. law firm Seward & Kissel LLP released the findings of its first Alternative Investment Allocator Survey. They found that those who allocate alternative investment dollars for large investors are likely to increase allocations to less liquid strategies and […]
SEC Obtains Emergency Asset Freeze, Charges Actor with Operating a $690 Million Ponzi Scheme
(HedgeCo.Net) The Securities and Exchange Commission has announced that it obtained an asset freeze and other emergency relief in an emergency enforcement action against Los Angeles-based actor Zachary Horwitz and his company, 1inMM (one in a million) Capital, LLC in […]
Morgan Stanley dumped $5 billion in Archegos’ stocks the night before massive fire sale hit rivals
(CNBC) The night before the Archegos Capital story burst into public view late last month, the fund’s biggest prime broker quietly unloaded some of its risky positions to hedge funds, people with knowledge of the trades told CNBC. Morgan Stanley sold […]
Investors are still misunderstanding the Fed,’ says this chief investment strategist
(Marketwatch) The stock market still has room to run this year despite investors’ rising concern over inflation, according to Brent Schutte, chief investment strategist at Northwestern Mutual Wealth Management Company. “I think investors are still misunderstanding the Fed,” Schutte told […]
Millionaires tax’ threat has some NY bankers, managers eyeing exits
(Reuters) For decades New York’s bankers and fund managers have accepted the city’s high tax rates as a part of working in the world’s premier financial capital. “I’m already looking for an apartment in Florida,” said one highly paid person […]
Auditor Charged for Failure to Register with PCAOB and Multiple Audit Failures
(HedgeCo.Net) The Securities and Exchange Commission today announced the institution of administrative proceedings against a Texas-based CPA for allegedly failing to register his firm with the Public Company Accounting Oversight Board (PCAOB) and alleged wholesale failures in auditing and reviewing […]
