A foreign cyberattack has reportedly hit the city of Columbus, Ohio. The attack has disrupted various city servers and appears to have compromised data, reports the Colombia Dispatch. The ransomware group Rhysida says it’s behind the hack, listing a trove of new data for sale on the dark web. Although officials have released few details […]
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JPMorgan Chase is already hearing from US lawmakers after declaring it may soon impose unprecedented fees on its 80 million-plus customers. In a letter to the banking giant obtained by Fortune, Democratic Senators Elizabeth Warren and Chris Van Hollen blast the bank’s flirtations with fee hikes, including charges for basic checking accounts and services. “Will […]
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The governing body of the Federal Reserve System has issued an enforcement action against Customers Bancorp, the parent company of state-chartered Customers Bank known for doing business with crypto exchange platforms and stablecoin issuers. The Federal Reserve Board (FRB) says the Pennsylvania-based bank holding company and its subsidiary have significant deficiencies in risk management practices […]
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Wells Fargo, Morgan Stanley and Bank of America are among a group of Wall Street banks accused of bilking customers out of billions of dollars in interest payments, according to a new report. The U.S. Securities and Exchange Commission is probing the banks to determine whether they purposefully directed clients toward “cash sweep” accounts that […]
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If approved, the ETF would be the first US fund to hold a diversified portfolio of spot cryptocurrencies.
United States regulators said they would need more time to decide if an exchange-traded fund (ETF) designed as a one-stop-shop crypto portfolio can list on Nasdaq’s electronic securities exchange, according to an Aug. 9 regulatory filing.
The filing was a response to Nasdaq’s June request for permission to list the Hashdex Nasdaq Crypto Index ETF on its electronic exchange.
Related: Nasdaq asks to list options on spot Ethereum ETFs — Filing
Americans are holding a whopping $7.162 trillion in uninsured cash in their bank accounts, according to an under-the-radar report from the Federal Deposit Insurance Corporation (FDIC). The agency says the data, which was captured at the end of March, shows the amount of unprotected cash in US banks is increasing for the first time since […]
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Other hedge funds are also reporting sizable positions in Bitcoin exchange-traded funds.
According to public disclosures filed on Aug. 5, Capula Management, Europe’s fourth-largest hedge fund, invested nearly $500 million in Bitcoin (BTC) exchange-traded funds.
The hedge fund, which is based in the United Kingdom and manages upward of $30 billion in investor assets, holds shares in Fidelity Wise Origin Bitcoin Fund (FBTC) and BlackRock’s iShares Bitcoin Trust (IBIT).
According to the filing, Capula owns shares worth more than $464 million in total, reflecting its portfolio as of June 30. The filings do not indicate that Capula owns any other crypto assets.
Dropbox co-founder Arash Ferdowsi just filed a $225 million lawsuit against JPMorgan Chase, accusing the financial giant of mismanaging his investment portfolio and squandering hundreds of millions of dollars. The suit alleges JPMorgan Private Wealth Advisors steered Ferdowsi into “complex, low-performing” investments with exorbitant fees, causing over $225 million in damages. Specifically, Ferdowsi claims JPMorgan […]
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JPMorgan Chase and Wells Fargo are refusing to reimburse the vast majority of customers who send their money to scammers, according to a new report. New numbers from the US Senate’s Permanent Subcommittee on Investigations show Chase reimbursed 2% of scams reported on the instant payments network Zelle in 2023. That compares to 4% at […]
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Financial services giant Morgan Stanley is reportedly giving wealth advisors approval to offer Bitcoin (BTC) exchange-traded funds (ETFs) to wealthy clients. According to a new report by CNBC, a major Wall Street bank is giving its wealth advisors the go-ahead to pitch BTC ETFs to its customers for the first time. Anonymous sources familiar with […]
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