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(Reuters) – The full extent of the fallout on the crypto industry from the collapse of Sam Bankman-Fried’s FTX was yet to come out, Coinbase Global Inc Chief Financial Officer Alesia Haas told the Wall Street Journal on Wednesday. “What we are seeing now is a fallout of FTX is becoming much more like the …

Coinbase CFO says full contagion impact of FTX collapse still to show – WSJ Read More »

WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen said on Wednesday that crypto markets need more robust oversight, days after cryptocurrency exchange FTX collapsed. “The recent failure of a major cryptocurrency exchange and the unfortunate impact that has resulted for holders and investors of crypto assets demonstrate the need for more effective oversight of cryptocurrency markets,” …

U.S. Treasury’s Yellen says crypto markets need better oversight Read More »

(Reuters) – Goldman Sachs on Wednesday raised its forecast for the peak in the federal funds rate by 25 basis points to 5-5.25%, after adding one more quarter-point Federal Reserve hike in May 2023 to its outlook. The bank said in a research note that it now sees the Fed hiking by 50 bp in …

Goldman raises forecast for 2023 Fed rate peak by 25 basis points Read More »

By Lananh Nguyen NEW YORK (Reuters) – Wells Fargo & Co introduced small-dollar loans to customers online, the bank said Wednesday, as overdraft fees draw greater scrutiny in the United States. The loans are for $250 or $500 with a flat fee of $12 or $20, respectively, to eligible customers, the bank said. The loans …

Wells Fargo starts small-dollar loans amid overdraft scrutiny Read More »

NEW YORK (Reuters) – The U.S. Securities and Exchange Commission on Tuesday delayed a decision on whether to allow a spot bitcoin exchange-traded fund by stock-picker Cathie Wood’s Ark Invest and crypto investment product firm 21Shares US to list and trade on Cboe Global Markets until Jan. 27. The delayed decision on the ARK 21Shares …

U.S. SEC delays decision on ARK 21Shares spot bitcoin ETF to Jan. 27 Read More »

By Chris Taylor NEW YORK (Reuters) – For Michael Whitty, it all started with one question: “I wonder how much this is all adding up to?” That is what the Chicago estate planning attorney asked when he kept getting email notifications about subscription renewals. For a few apps, some magazines, wine sites and software charges, …

How to manage subscription overload Read More »

(Reuters) -Michael Barr, the Federal Reserve’s top regulatory official, said Monday the U.S. central bank is watching for any stresses to the financial system amid a weakening economy, and signaled that stiffer oversight of cryptocurrency is in the offing. The Fed “will be heightening its focus on liquidity, credit, and interest-rate risks as supervised institutions …

Fed boosts focus on liquidity, other risks as economy weakens: Barr Read More »

(Reuters) -Recent turmoil in the cryptocurrency market shows the need for it to be firmly regulated the same way traditional finance is, Federal Reserve Vice Chair Lael Brainard said on Monday. “It’s really concerning to see that retail investors are really getting hurt by these losses,” Brainard said in an interview with Bloomberg in Washington, …

Fed’s Brainard: Crypto finance needs strong regulation Read More »

(Reuters) – Coinbase Global Inc will write off the investment its ventures arm made in cryptocurrency exchange FTX in 2021, according to a person familiar with the matter. Coinbase had said in a blog post Tuesday that the company has $15 million in deposits on FTX that were used to facilitate business operations and client …

Coinbase to write off investment that its ventures arm made in FTX- source Read More »