Alex Richardson

1 week ago | dailyhodl.com | Alex Richardson

The US banking industry saw a rise in profits in the first quarter of the year driven by a jump in non-interest income, according to new government numbers. In an announcement from the Federal Deposit Insurance Corporation (FDIC), the agency says that financial institutions in the US reported a return of 1.16% and net income of $70.6 billion. The FDIC says the rise in income was a jump of $3.8 billion, or 5.8%, from the previous quarter.

1 week ago | dailyhodl.com | Alex Richardson

Bitcoin has opened the week higher in what some prominent industry voices are flagging as a sign that BTC may be starting to act as a safe haven asset. Chainlink (LINK) creator Sergey Nazarov says that the flagship cryptocurrency appears to be decoupling from the stock market and behaving more like gold, Fox Business reports.

1 week ago | dailyhodl.com | Alex Richardson

Toronto Dominion Bank (TD) will be winding down a $3 billion investment portfolio while downsizing its headcount in a move to cut costs. In TD’s latest earnings call, senior vice president and chief financial officer Kelvin Tran says the bank has undertaken a restructuring program to reduce structural costs and “create capacity to invest to build the bank for the future.”As a result of the agenda, Tran says that TD will have to lay off roughly 2,000 employees.

1 week ago | dailyhodl.com | Alex Richardson

The biggest asset manager in the world has acknowledged the potential of a critical threat that could weigh on Bitcoin (BTC) in the future. In its updated prospectus for its iShares Bitcoin Trust ETF (IBIT), BlackRock mentions quantum computing under its “risk factors” section. Quantum computers are considered by many to be a potential threat to Bitcoin due to their theoretical ability to, in the future, override the cryptographic schemes that secure blockchains.

1 week ago | dailyhodl.com | Alex Richardson

An ex-JPMorgan analyst has reportedly set up a mysterious hedge fund in Taiwan that has so far recorded massive return rates. Former JPM Asset Management analyst Andre Liu has quietly created a proprietary trading firm powerhouse in Taipei that has far outshone the rest of the industry, reports Bloomberg. According to the firm’s internal documents seen by Bloomberg, UC Capital has recorded an internal rate of return of 51% since it was launched in 2021.