CoinDesk is releasing their 2020 version of the CoinDesk 50, the most innovative, consequential and viable projects in the blockchain...
I examine the unbelievable transformation and restructuring happening in high finance. Global bank HSBC is planning to lay off over 10% of staff, looking at reductions of 35,000. E*TRADE is being acquired by Morgan Stanley, integrating its 5,000,000 accounts and $360 billion of assets into the Wall Street investment firm. Legg Mason and its $800 billion of assets are being folded into Franklin Templeton for $4.5 billion, less than what Visa had paid for fintech data aggregator Plaid and half of what Robinhood is likely valued privately. How do we make sense of these developments? How do we appeal to the heart?
The wealth management industry has gone through a host of changes in recent years and now fractional share trading has...
Well this morning started out as a bit of a bummer! See -- Charles Schwab to buy TD Ameritrade in a $26 billion all-stock deal. The $55 billion market cap Schwab is gobbling up the $22 billion TD Ameritrade at a slight premium. Matt Levine of Bloomberg has a great, cynical take on the question: Schwab lowering its trading commissions to zero is actually what wiped out $4 billion off TD's marketcap a few months ago. For Schwab, the revenue loss from trading was 7% of total, while for TD it was over 20%. Once Schwab dropped prices, TD started trading at a discount and became an acquisition target. You can see the share price drops reflected below in the beginning of October.
There has been a lot of discussion in the last few years about blockchain technology and its potential impact on...
Robinhood is currently experiencing a system-wide outage and follows news of other recent outages; Fidelity and Charles Schwab both had...
Akoya is currently Fidelity’s data-sharing arm but now will become its own company, owned by Fidelity, The Clearing House and...
Ant Financial’s Yu’e Bao previously had the title for the largest money market fund; however, JPMorgan and Fidelity have now...
Fidelity has launched a new data sharing hub called Akoya in a bid to end screen scraping and clarify data...
Fidelity Investments said that it will allow its institutional customers to buy and sell Bitcoin “within a few weeks” according...