Monthly Archives: May 2021
U.S. Justice Department starts probe on Archegos collapse
(CNBC) The U.S. Department of Justice is investigating the collapse of Bill Hwang’s Archegos Capital Management, which cost big global banks more than $10 billion in losses, Bloomberg News reported on Wednesday. Federal prosecutors in Manhattan sent requests for information […]
Nvidia sold $155 million in crypto mining chips last quarter, but PC gaming remains its biggest market
(CNBC) On Wednesday, the company provided an update on how its cryptocurrency, or CMP, cards are faring in the market. It booked $155 million in revenue from CMP cards in its fiscal first quarter, which ended May 2, and expected […]
Hedge fund CFOs say data demands will drive up ops spend
(Hedgeweek) Investor demand for data transparency is set to drive hedge fund firms’ operating costs up by more than 8 per cent over the next five years, hedge fund chief financial officers are predicting. To read this article:
SEC Charges Investment Entity and Principals with Securities Fraud and Registration Violations
(HedgeCo.Net) The Securities and Exchange Commission charged Colorado and Florida residents Randy R. King, Matthew B. King, and Andrea S. Trout and three entities they operated, The Legacy Group, Inc., Colorado Ventures I, LLC, and Radiant Holdings, LLC, with fraudulently […]
Fed’s Daly says the economy is strong, but it’s ‘way too early’ to tighten policy
(CNBC) While she’s encouraged by the economic progress, San Francisco Federal Reserve President Mary Daly told CNBC on Tuesday that it’s still not time to change policy. “We haven’t seen substantial further progress just yet. We’re still looking for substantial […]
Robinhood nears its biggest trade of all, an IPO, after wild year
(CNBC) Robinhood’s list of recent challenges are hard to count on one hand. Yet the popular stock-trading app is growing faster than ever and is on track for a multibillion-dollar IPO in the coming months. To read this article:
Nearly half of traditional hedge funds considering crypto investments
(Opalesque) Almost half of the traditional hedge funds are exploring digital assets or are currently investing in them with around a fifth of traditional hedge funds having holdings already, said a study. The research by the Alternative Investment Management Association […]
Bitcoin crash opens door to a tax loophole for investors
(CNBC) Crypto investors may be shellshocked by a recent plunge in prices. But that sell-off has a silver lining: It opens the door to a money saving tax strategy. Popular cryptocurrencies like bitcoin and ethereum shed more than half their […]
Bitcoin traders using up to 100-to-1 leverage are driving the wild swings in cryptocurrencies
(CNBC) Bitcoin’s aggressive moves are being driven by much more than the next China crackdown or Elon Musk headline. Traders taking excessive risk in the unregulated cryptocurrency market being forced to sell when prices go down were in large part […]
‘Noisy’ errors by wealth managers/financial advisers can be caused by irrelevant factors, says study
(Opalesque) A study with financial advisers to make recommendations for imaginary clients found that risk tolerance assessments resulted in wildly different interpretations, which had a massive impact on client recommendations. In one instance, an adviser recommended a ‘very low’ level’ of risk for an imaginary […]
SEC Charges Partnership and Four Individuals in Connection with a Fraudulent Investment Offering
(HedgeCo.Net) The Securities and Exchange Commission charged LFS Funding Limited Partnership and individuals Stephen Michael Thompson, Steven Robert Comisar, Dale Jay Engelhardt, and Ross Gregory Erskine, all of the Los Angeles area, with engaging in fraud in connection with an […]
Amazon nears deal to buy MGM Studios for nearly $9 billion
(CNBC) Amazon is nearing a deal to acquire MGM Studios, the co-owner of the James Bond franchise and other film and TV series, for between $8.5 billion and $9 billion, according to people familiar with the matter. The deal is […]