Tag Archives: bank of america

One of the largest US banking institutions, the Bank of America, has recently decided to close the account of the former CFO of PayPal. The decision came without an explanation, despite the fact that he had been a client for over 20 years. Needless to say, Bitcoin’s censorship-resistant nature is one of the things that bring it up as a viable alternative in scenarios of the kind.Bank Of America Shuts Down An AccountThe former CFO of PayPal and current partner at Sequoia, Roelof Botha, shared...

Warren Buffett and his company had their total capital rising to a record of $128 billion during Q3 2019, сovering all the losses and showing the company has some great risk management tools. The measure supposes to help the company’s under-performing stocks, while some market analysts claim it will make the stocks fall faster. Berkshire spent 1.7 billion in Q1, 442 million in Q2, and 700 million in Q3 on repurchasing stocks in 2019. They also have changed the rules by which the stocks...

Photo: PixabayBlockchain startup Ripple is once again in news for investing in a cybersecurity startup called Keyless in the latest $2.2 million seed funding round. Keyless specializes in creating security products that can unlock access to users’ biometric data and private keys.Based in London, Keyless claims itself to be the first global company combining biometrics with multi-party computation. With its unique product offering, Keyless has attracted major investors like venture fund...

The blockchain startup Ripple is currently facing some major regulatory hurdles as investors have raised questions over the state of XRP being securities. To tackle this matter at hand, Ripple has brought some financial industry heavyweights to its board.In one such move, Ripple has recently appointed ex Bank of America executive – Benjamin Melnicki – as its head of Regulatory Affairs. Melnicki’s job at Ripple will be communicating and maintaining absolute transparency regarding Ripple’s...

Bitfinex, the cryptocurrency exchange which has been enmeshed in a legal tussle for a while now, has filed an application with the US Court in the Central District of Southern California, through its parent company, iFinex Inc. Filed on the 18th of October 2019, Bitfinex wants the Court, through a subpoena, to help recover more than $850 million that has been unreachable by the exchange because of supposed problems being faced by the company’s payment processor Global Trade Solutions AG,...

Bank of America, one of the most prominent banks in the United States, has taken a bold step by adopting Blockchain technology after testing out Ripple’s Distributed Ledger Technology (DLT) in its banking system and appears to be ready to go a bit further with the implementation of the technology.Bank of America’s commitment to Ripple might just stir the storm for other banks too. This development of the course has been in process for a long while and is by no means sudden. Last year in...

Warren Buffett is causing yet another market buzz with his next line of action, and this time, his investor-compass is pointing again at the Bank of America. The seasoned investor wants to up his stake in the bank past 10%, and this planned move is already raising eyebrows.Berkshire Hathaway, Buffett’s company, made it clear in a Fed filing that its intentions do not include any merger, selling of Bank of America assets or the introduction of a new business strategy, rather all it is after is...

Photo: UnsplashA new Vegan focused exchange-traded fund (ETF) was launched on the New York Stock Exchangenew yor on Tuesday the 10th of September. Dubbed the U.S. Vegan Climate ETF with the code VEGN, the ETF costs 60 basis points for interested participants and it is the first vegan and climate oriented ETF that has been ever launched.Initiated by Beyond Investing which is itself a vegan and anti-animal investment service, the new ETF boasts of more than a few major holdings including...

Fintech startups across the globe are making massive inroads in the global payments industry. As per the Accenture report titled Banking Pulse Survey: Two Ways To Win, non-banking financial startups will eat 15% share in global payments revenue by 2025. As per the estimates and the growth projections, this share translates to a massive $280 billion.As per the report, the global payments revenue is expected to grow at an annual rate of 5.5%. In 2019 itself, the global payments market is...