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In the latest sign the EU may be taking a more accommodative approach to post-Brexit Britain, the bloc's Spanish preside...
09/14/2023

In the latest sign the EU may be taking a more accommodative approach to post-Brexit Britain, the bloc's Spanish presidency has proposed watering down a law that would effectively force banks to shift business from London to the continent.

The European Commission has proposed a law, now being scrutinised by European Union states and the European Parliament, to end "excessive exposures" to clearing houses which are based outside the bloc.

Barclays (BARC.L) said on Thursday it has hired two senior bankers for its financial sponsors group to oversee relations...
09/14/2023

Barclays (BARC.L) said on Thursday it has hired two senior bankers for its financial sponsors group to oversee relationships with private equity clients.

The British lender appointed Tom Vignon as a managing director in the financial sponsors group for the Europe, the Middle East and Africa (EMEA) region, it said in a statement.

Vignon joined after more than two decades at Credit Suisse, where he led a similar group in EMEA.

The U.S. Securities and Exchange Commission on Tuesday said it has charged a former national office leader at audit firm...
09/12/2023

The U.S. Securities and Exchange Commission on Tuesday said it has charged a former national office leader at audit firm Marcum LLP over quality control failures, the regulator said in a statement.

The SEC said Alfonse Gregory Giugliano, a certified public accountant, failed to sufficiently address and remediate deficiencies in the firm's quality control system. In his role as a National Assurance Services Leader, he was aware of numerous deficiencies in Marcum's quality control system, the SEC said.

Wells Fargo (WFC.N) could see its headcount decline further as it aims to improve efficiency, Chief Financial Officer Mi...
09/12/2023

Wells Fargo (WFC.N) could see its headcount decline further as it aims to improve efficiency, Chief Financial Officer Mike Santomassimo said on Tuesday.

The bank has been trimming its workforce since the third quarter of 2020. It has already reduced its employee base by nearly 40,000 and cuts are likely to continue, Santomassimo said.

"I do think that there's more to do, and you'll see that through the headcount number," he added.

Cryptocurrency brokers, including exchanges and payment processors, would have to report new information on users' sales...
09/11/2023

Cryptocurrency brokers, including exchanges and payment processors, would have to report new information on users' sales and exchanges of digital assets to the Internal Revenue Service (IRS) under a proposed U.S. Treasury Department rule published on Friday.

The rule is part of a broader push by Congress and regulatory authorities to crack down on crypto users who may be failing to pay their taxes.

The first secondary crypto market fund launched by HashKey Capital will invest a significant part of its assets in secon...
09/11/2023

The first secondary crypto market fund launched by HashKey Capital will invest a significant part of its assets in second-tier cryptocurrencies, with a goal of outperforming market leader Bitcoin, its portfolio manager said.

The fund, run by the investment arm of Hong Kong crypto giant HashKey Group, launches on Friday. It has already secured potential clients, mainly high-net-worth individuals and investment firms serving rich Asian families, Jupiter Zheng told Reuters.

The gap between Bitcoin’s price and GBTC shares has narrowed after the SEC rejected Grayscale’s application to convert i...
09/10/2023

The gap between Bitcoin’s price and GBTC shares has narrowed after the SEC rejected Grayscale’s application to convert its trust into an exchange-traded fund (ETF).

In the last year, many investors reportedly profited from the anticipation that the U.S. Securities and Exchange Commission (SEC) would greenlight a product directly pegged to the value of Bitcoin (BTC).

However, after a U.S. Court of Appeals mandated the SEC to reassess its refusal to greenlight Grayscale Bitcoin Trust’s (GBTC) application to transform into an ETF, the discount on GBTC shares to the value of the underlying Bitcoin slimmed down to approximately 17%, according to the Wall Street Journal.

GBTC, which manages $16.1 billion in assets, provides investors with exposure to Bitcoin as a security. Each share represents ownership of a fraction of Bitcoin, equal to 0.00090040 of a complete coin, which was priced at $24.49 at the market’s inception.

According to analysts, Bitcoin’s mini-surge this year and the diminishing discount have more than doubled the value of GBTC shares in 2023.

In a noteworthy development, stablecoin holders, especially of USDC and USDT, are swiftly turning to Borroe.Finance (ROE...
09/10/2023

In a noteworthy development, stablecoin holders, especially of USDC and USDT, are swiftly turning to Borroe.Finance (ROE) in the ongoing presale.

This article delves into this shift, exploring why Borroe.Finance is becoming the focal point for crypto holders diversifying and building their portfolios.

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