Corporate culture??? JPMorgan Chase flagged suspicious cash transfers tied to Jeffrey Epstein years before his felony sex-trafficking charges, yet continued business with him even while internal emails referred to him as a “known child sleaze.”
Am I happy??? FTX Recovery Trust plans to repay 143% of claims to creditors in U.S. dollars, but when adjusted for soaring crypto prices since bankruptcy, real recovery in coin-equivalent terms may be as low as 9%.
“All I need are some tasty waves, a cool buzz, and I’m fine”.. Animoca Brands plans a reverse merger with Currenc Group to go public, reflecting a wave of crypto firms pursuing IPOs or acquisitions as TradFi giants like Mastercard and Nasdaq increasingly adopt blockchain and tokenization strategies.
“I’m a cowboy, on a steel horse I ride”… Tony Han, CEO of China-based autonomous driving company WeRide, stated that he believes self-driving cars will soon be 10X safer than human drivers, citing rapid advances in AI, sensors, and computing power.
“Experience is simply the name we give our mistakes”… The California Public Employees’ Retirement System (CalPERS) committed $468 million to its Clean Energy & Technology Fund and saw its value plunge 71% to $138 million; the pension fund declined to disclose how the losses occurred.
The Empire Strikes Back… Zelle, a consortium of major U.S. banks, is launching an initiative to use stablecoins for cross-border payment – extending the network that serves more than 2,000 institutions – though key technical details and stablecoin issuance remain unspecified.
“What’s goin’ on”??? Stablecoin transactions on Ethereum soared to $2.82 trillion in October (a 45 % jump from September’s $1.94 trillion) as traders sought yield amid a market pullback during which Bitcoin dropped 11% and Ether 16%.
But what do they know about credit worthiness??? S&P Global assigned Strategy Inc., the largest DAT that exclusively holds Bitcoin, a B- credit rating, citing liquidity and currency mismatch risks, underscoring the danger of integrating volatile crypto assets into corporate treasuries.
“When the elephants dance, the grass gets trampled”… The stablecoin sector advanced significantly as Citigroup partnered with Coinbase for fiat-to-crypto payments, Coinbase joined Apollo Global Management for tokenized credit, Visa expanded stablecoin support and $2.5 billion in annual spend, and Western Union filed for “WUUSD” ahead of its Solana stablecoin launch.
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