Crypto is a nonexistent asset for big institutional investors – JPMorgan exec

Big institutional investors are still largely staying away from the crypto market, as the asset class’ volatility poses a challenge to money managers, Jared Gross, head of institutional portfolio strategy at JPMorgan Asset Management, told Bloomberg.  “As an asset class, crypto is effectively nonexistent for most large institutional investors,” Gross noted, explaining that “the volatility is too […]

Ripple CEO compares Wells Fargo billions mismanagement with FTX collapse

Amid the heated-up news steam about the FTX drama, Ripple CEO Brad Garlinghouse tried to turn the public’s attention to another case regarding the misdeeds of traditional finance. A $3.7 billion fine for mismanagement for Wells Fargo bank occurred to be, in Garlinghouse’s words, “barely a blip on the radar.” Ripple CEO expressed his concern […]

Consumers are crypto-curious —one in five own digital currency: Accenture

Over the last year, the crypto space has endured lasting market volatility and scandals, which have negatively affected consumer trust in the industry. However, an end-of-the-year report from Accenture revealed that consumers are still holding crypto — and for the long term. According to Accenture’s 2022 Global Consumer Payments report, while many consumers still prefer […]

New York State issues guidance for banks seeking to engage in activities with crypto

The New York state Department of Financial Services (DFS) released guidance on Dec. 15 for regulated banks seeking to engage in activities with virtual currency. The guidance, which took effect immediately, describes the application process and “summarizes the types of information the Department considers relevant” for obtaining the agency’s approval. The 11-page document consisted largely […]

What Goldman Sachs’ CEO misunderstands about private blockchains

Only one of the following news items is real, but someday, all will sound equally comical. Headline, 1896: The owner of Wagoneer & Sons, a leading horse-drawn carriage maker, has announced the adoption of a new machine called the “internal combustion engine” to improve its manufacturing process. “Gas engines are powerful but dangerous,” the owner […]