News

It is a bold or naïve CEO that prefaces a major announcement with the words, "This will shock the world". New PayPal CEO Alex Chriss said exactly that in his first public interview since becoming CEO. That was a week ago and he was referring to major announcements that would happen at the company's Innovation Day that it conducted yesterday.

It has been almost two weeks since the SEC approved Bitcoin ETFs and we now have some data on the 10 ETFs that have been trading since then. The two biggest and oldest names in finance are leading the way: BlackRock and Fidelity. Each fund has attracted more than $1 billion in inflows.

House Financial Services Committee Chairman Patrick McHenry (R-NC) announced yesterday that he will not be seeking reelection to the North Carolina seat he has held for almost 20 years. Over the years whether serving as the Committee Chairman or as the Ranking Member, he has been a tireless champion for financial innovation on the House Financial Services Committee.

Bhardwaj had reportedly held senior technology positions at various large banks including Citi, Fifth Third and Huntington. The trouble is those banks had no records of Bhardwaj ever being an employee let alone a senior technology executive.