What would Ned Johnson do? The late, great Fidelity Investments honcho built his family’s Boston-based money management firm into one of the biggest in the world over the course of a long career. Johnson died on March 23 of this year, age 91. On April 26, just over one month later, his daughter and heir, … Read more
Fidelity Investments made waves in the retirement-planning industry when it became the first of the major record-keepers to roll out bitcoin for 401(k) plans. But fintech start-ups are moving in as well. In April, Fidelity said that some of the 401(k) plans it administers would soon offer employees a way to invest in bitcoin through … Read more
Netflix Inc. has promised to limit password sharing because it looks likely to increase its financial fortune, and the company has just shared more details on how it will be done. The company plans to get subscribers in some Latin American markets to start paying extra if they want to add additional homes to their … Read more
Cryptocurrencies like bitcoin BTCUSD, +3.49% and ether ETHUSD, +5.49% have exploded in popularity in recent years, and are now traded by both individual investors and large companies like Tesla TSLA, -0.01% and Citibank. The total market cap for all crypto nearly hit $3 trillion during parts of 2021 and companies like Robinhood HOOD, -1.16%, Coinbase COIN, +3.31% … Read more
Cryptocurrencies like bitcoin BTCUSD, +3.33% and ether ETHUSD, +4.30% have exploded in popularity in recent years, and are now traded by both individual investors and large companies like Tesla TSLA, -0.05% and Citibank. The total market cap for all crypto nearly hit $3 trillion during parts of 2021 and companies like Robinhood HOOD, -0.24%, Coinbase COIN, +3.04% … Read more
Most countries lack “travel rule” laws that could help prevent the illicit use of cryptocurrency by criminals and terrorists, a global anti-money-laundering watchdog said on 30 June. The rules would require companies and service providers to share information about senders and recipients in cryptocurrency transactions. Only about 30% of jurisdictions surveyed by the Financial Action Task … Read more
SAN SALVADOR, El Salvador — El Salvador’s Bitcoin-boosting president was back at it again Thursday, doubling down on his country’s losing investment in the cryptocurrency by buying over $1.5 million more. President Nayib Bukele wrote on his Twitter acount after posting the purchase: “Bitcoin is the future! Thank you for selling cheap.” Bukele said his … Read more
The chief executive of California-based asset manager Research Affiliates has called cryptocurrencies a “Ponzi scheme”, claiming bitcoin and the blockchain technology underpinning the world’s largest digital asset help fuel illegal activity. “They are a Ponzi scheme that facilitates money laundering,” Chris Brightman told Financial News when asked about his views on cryptocurrencies. Brightman, who became … Read more
The head of the New York State Department of Financial Services said she wants the regulator to continue to be a leader in cryptocurrencies, remaining upbeat on virtual assets despite the industry’s turmoil. The regulator has issued more cryptocurrency-related licenses so far in 2022 than it did in all of 2021, its superintendent, Adrienne Harris, said … Read more
The plummeting price of bitcoin could force crypto miners to sell the tokens to fund operations, further pressuring the digital currency. In good times, crypto mining firms and bitcoin’s price are locked in a virtuous cycle. The miners own giant warehouses filled with specialised equipment that keep bitcoin transactions humming and are rewarded more bitcoin … Read more