The funds have brought in record amounts thanks to lowered fees and more salespeople; ex-Goldman managing director says in suit he was blamed for trades.
The Swiss bank allegedly hired Chinese officials’ friends and relatives to win business; JPM asked “several dozen” employees to consider moving from London.
As they cement major partnerships, launch overseas operations and court banks and other institutional investors, top cryptocurrency exchanges now see regulatory approval as a competitive advantage.
Dizzying trading in bitcoin fed the bubble argument, but now that Nasdaq is the third Wall Street player to say it is designing a financial instrument around it, banks may be forced to reassess cryptocurrencies.
The lack of progress by the Trump administration with an examination of hedge fund risks is particularly troubling in light of key Trump backers’ ties to the hedge fund industry.
