Goldman Sachs has been offering more products to a wider range of consumers; this started with the acquisition of the online deposit platform of GE Capital; the firm is competing aggressively on their deposit rates to grow this base; in 2016 they launched Marcus, their online lending platform, and now have a new lending product called GS Select; product offers loans backed by investment portfolios for individuals that have a Fidelity financial adviser. Source
The wealth management industry has gone through a host of changes in recent years and now fractional share trading has...
A new survey by Fidelity found 36 percent of U.S. and European institutional investors own crypto assets with Bitcoin being...
Fidelity’s chief executive Abigail Johnson spoke about the company’s current projects involving cryptocurrency at the Consensus conference; they have made venture investments and are also looking at applications of blockchain technology; Fidelity has set up a mining operation which is making money for the company. Source
Ant Financial’s Yu’e Bao previously had the title for the largest money market fund; however, JPMorgan and Fidelity have now...
Akoya is currently Fidelity’s data-sharing arm but now will become its own company, owned by Fidelity, The Clearing House and...
This week, I grapple with the concepts of financial centralization and decentralization, anchoring around custody, staking, and DeFi examples. On the centralized side, we look at BitGo's acquisition of Lumina, Coinbase Custody and its similarity to Schwab and Betterment Institutional. On the decentralized side, we examine the recent $500 million increase in value within the Compound protocol, as well as the recursive loops that could pose a broader financial risk to the ecosystem.
Cambridge announced a joint research effort between the Cambridge Center for Alternative Finance and 16 private sector leaders.
Making news this week was the CFPB director testifying before both the Senate and House, Fidelity will allow bitcoin in 401(k) plans, Robinhood had a bad week, the OCC is talking stablecoins, Goldman created a lending facility backed by bitcoin and more.
Robinhood is currently experiencing a system-wide outage and follows news of other recent outages; Fidelity and Charles Schwab both had...