Fintech

The Biden White House just rolled out a framework to regulate cryptocurrencies — here's what's in it

The Biden White House just rolled out a framework to regulate cryptocurrencies — here’s what’s in it

U.S. President Joe Biden walks from Marine One to the White House after traveling from Michigan on September 14, 2022 in Washington, U.S. Tom Brenner | Reuters The Biden White House just released its first framework on what crypto regulation in the U.S. should look like — including how the financial services industry should evolve …

The Biden White House just rolled out a framework to regulate cryptocurrencies — here’s what’s in it Read More »

Ray Dalio says watch out for rates hitting this level as Wall Street stocks will take a 20% hit

Ray Dalio says watch out for rates hitting this level as Wall Street stocks will take a 20% hit

Wall Street is gearing up for a slew of new data on Thursday, including retail sales, following the CPI shock earlier in the week, with a deepening yield curve inversion between 2-year and 10-year bonds, unleashing more Gloomy economic signal. There is good news, though, as a disastrous rail strike could be avoided. Billionaire investor …

Ray Dalio says watch out for rates hitting this level as Wall Street stocks will take a 20% hit Read More »

Ethereum's massive software upgrade just went live — here's what it does

Ethereum’s massive software upgrade just went live — here’s what it does

Ethereum’s largest-ever upgrade has just gone into effect, and industry experts are calling it a game-changer for the entire crypto industry. So far, all indications are that the so-called merger — which aims to reduce the cryptocurrency’s energy consumption by more than 99 percent — is a success. The first proof-of-stake transaction block has been …

Ethereum’s massive software upgrade just went live — here’s what it does Read More »

Meta crash: This chart shows Facebook's fall from grace among the most valuable U.S. companies

Meta crash: This chart shows Facebook’s fall from grace among the most valuable U.S. companies

Beset by competition and macroeconomic threats, Meta Platforms Inc. slipped among the largest U.S. companies. After its shares, Meta META, fell 9.4% on a daily basis, -9.37% As of Tuesday’s close, it was No. 10 by market cap, below Visa Inc. V, -3.37% The first time since early August. Meta, the parent company of Facebook …

Meta crash: This chart shows Facebook’s fall from grace among the most valuable U.S. companies Read More »

These five stocks in the S&P 500 lost nearly $500 billion in value in a single day.

These five stocks in the S&P 500 lost nearly $500 billion in value in a single day.

The drop in gasoline prices couldn’t hide the problem that spooked investors on Sept. 13: Core consumer prices returned to rapid gains in August. Dow Jones Industrial Average DJIA Down 1,276 points, or 3.9%, to 31,104, with all 30 constituents in the red as selling activity picked up in late trade. It was the biggest …

These five stocks in the S&P 500 lost nearly $500 billion in value in a single day. Read More »

JPMorgan buys payments fintech Renovite to help it fight Stripe and Block

JPMorgan buys payments fintech Renovite to help it fight Stripe and Block

The front entrance of JPMorgan Chase’s New York headquarters. Eric McGregor | Light Rocket | Getty Images JPMorgan Chase has agreed to buy a payments startup called Renovite to fend off threats from fintech companies such as Stripe and Block, CNBC has learned. The bank, a major player in the global payments space, said the …

JPMorgan buys payments fintech Renovite to help it fight Stripe and Block Read More »

U.S. banking regulator warns of crisis risk from fintech proliferation

U.S. banking regulator warns of crisis risk from fintech proliferation

Cryptocurrency representation in this illustration, taken on January 24, 2022. REUTERS/Dado Ruvic/Illustration Sign up now for free and unlimited access to Reuters.com register NEW YORK, Sept 7 (Reuters) – The rise of fintech services and digital banking could spur financial risks and could spark a crisis in the longer term, the leading U.S. banking regulator, …

U.S. banking regulator warns of crisis risk from fintech proliferation Read More »