The latest headlines on the impact of technology on the wealth management industry.
Fintech News
Facebook Wants Its Cryptocurrency to One Day Rival the Greenback
Facebook Inc. unveiled plans for a new cryptocurrency that the social-media giant hopes will one day trade on a global scale much like the U.S. dollar.
Bitcoin Climbs to One-Year High on Facebook Crypto Pact Report
Bitcoin climbed past $9,000, to its highest since May 2018, as reports that Facebook Inc. is due to unveil a digital currency added to optimism that cryptocurrencies are becoming more widely adopted by mainstream finance.
Goldman Offers Incentives to Keep Marcus Clients Away From Court
Goldman Sachs Group Inc. is offering customers of its consumer-finance business enticements to keep their grievances out of the courts.
Gary Cohn-Backed Blockchain Startup Raises $23 Million in Project Funds
A blockchain startup backed by former White House adviser Gary Cohn raised $23 million in its first round of financing to help it work on anti-fraud projects.
Crypto Exchanges Are Facing Biggest Regulatory Hurdle Yet
Bitcoin and its fellow cryptocurrencies have surged in popularity partly because they’ve offered a way to skirt the government oversight exercised over traditional financial systems.
Biggest Crypto Exchange Takes on Tether With Own Stablecoins
Binance, the world’s largest cryptocurrency exchange, will begin issuing so-called stablecoins “in a matter of weeks to a month or two,” Chief Financial Officer Wei Zhou said in a phone interview.
SEC Sues Kik Over $100 Million ICO, Sees Kin as a Security
The U.S. Securities and Exchange Commission sued Kik Interactive Inc. for illegally raising $100 million through a 2017 digital-token sale, in one of its highest profile cases targeting a company for not registering an offering with the regulator.
Crypto Pioneer Pays $4.57 Million for Lunch With Warren Buffett
Cryptocurrency pioneer Justin Sun bid a record $4.57 million to have lunch with Warren Buffett, who famously referred to Bitcoin as “probably rat poison squared.”
Robot Fund Manager Struggles Like the Rest of Us With Trade War
The re-ignited trade war is causing as much grief to our robot overlords as it is to human traders.
Wealthfront Has Courted Controversy With Dalio-Look-Alike Fund
Wealthfront Inc. is known for doing the most boring type of investing possible—sticking clients’ money in mutual funds and ETFs and taking a small fee.
Robinhood Is Set to Raise at Least $200 Million in New Funding
Robinhood Markets Inc. is close to securing at least $200 million in fresh funding, according a person familiar with the matter. The round is said to value the company at between $7 billion and $8 billion, although the details could change.
