Howard Lutnick, CEO of Cantor Fitzgerald, says bitcoin is a commodity. “When you truly understand bitcoin, it’s hard to see it any other way,” he said, adding that the crypto “should be treated like gold and like oil.” While stating that other digital assets may vary, he firmly maintained that BTC is a commodity. Howard…
Read more
According to a July 4, 2023 press release from the Danish Financial Supervisory Authority, Denmark’s Saxo Bank has been instructed to liquidate its holdings of cryptocurrency assets. The financial regulator maintains that Saxo Bank’s portfolio of crypto assets falls “outside the legal business area of financial institutions” and is in violation of the country’s Financial…
Read more
After Sullivan & Cromwell, consulting firm Alvarez & Marsal billed the second-largest amount for its finance and accounting work. The lawyers and consulting firms assisting cryptocurrency exchange FTX through its bankruptcy proceedings are set to cash in a total of $103 million over the first quarter. March saw five firms — Sullivan & Cromwell, Alvarez…
Read more
Credit Suisse has experienced a loss of confidence in the financial institution’s health following a significant drop in its shares’ value this week. Over the past five days, Credit Suisse shares have fallen 24.34% against the U.S. dollar, eroding trust amid fears about the global banking system. On Wednesday at around 9 p.m. (ET), Credit…
Read more
Discover the best of Wall Street cinema with these top seven films, featuring captivating tales of finance, ambition and power. Wall Street movies offer insightful perspectives into the worlds of business, finance and power. They also emphasize how vital creativity, risk-taking and tenacity are to success. Viewers can learn more about the financial sector and…
Read more
A recent report published by market strategists from the investment bank and financial services company UBS says that the upcoming Mt Gox payouts won’t destabilize bitcoin’s value. While a new supply will come to the market, UBS strategists insist that “it would be less concentrated.” UBS Market Strategists Believe Mt Gox Payouts Won’t Destabilize Bitcoin’s…
Read more
On Wednesday, the Japanese financial holding company and principal member of the Nomura Group, Nomura Holdings, announced the launch of a crypto-focused venture capital unit called Laser Digital Holdings. Nomura’s move follows a number of financial giants entering the cryptocurrency industry this year. Nomura Introduces Laser Digital Holdings The investment banking giant from Japan, Nomura…
Read more
Germany’s Deutsche Bank has become the latest financial services giant to confirm it’s leaving Russia over Moscow’s military assault on Ukraine. The bank has been reducing its Russian exposure since 2014 when Russia annexed Crimea and the conflict in Eastern Ukraine erupted. Amid Ongoing War in Ukraine, Deutsche Bank Pulls Out of Russia Deutsche Bank,…
Read more
An executive at Goldman Sachs is joining Coinbase after 16 years at the global investment bank. “It’s time to embrace the crypto economy,” he said, adding that the change is a “once in a lifetime opportunity to be part of building the next stage of the digital evolution.” From Goldman Sachs to Coinbase Roger Bartlett…
Read more
Investment bank strategists say that BTC could climb as high as $73,000 if markets remain frothy. American multinational investment bank JPMorgan has put a price on Bitcoin and it is a lot less than the asset currently trades for. In a report to investors as part of the bank’s inaugural outlook focused on alternative investments,…
Read more
