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Coinbase Raises $300M For Valuation Of More Than $8B

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Coinbase, the cryptocurrency exchange operator, has raised a fresh round of funding that gives it a valuation of more than $8 billion. We see Coinbase’s growth as validation that the ecosystem will only continue to grow in size, influence and impact — ultimately ushering in a more open financial system for the world.”

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Top News In Payments: Revolut Collaborates With Mastercard; Visa’s She’s Next Initiative Makes Global Leap

PYMNTS

Study: FIs Must Be Stronger to Prepare for Economic Slumps. McKinsey’s annual review of global banks indicates that many of them couldn’t handle an economic slump. SoftBank’s Proposed WeWork Buyout Pegs Valuation at Almost $8B. And SoftBank is reportedly in advanced talks to take over embattled co-working space firm WeWork.

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Machine Learning Sizzles, Bitcoin Fizzles And Schrödinger’s Physical Retail Does Both

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The yo-yo effect may portend some caution for tech IPOs going forward, at least where valuation is concerned. But at the end of the day, the most important responsibility regulators and financial authorities have to the public — their first, last and main job — is to keep the public’s money safe, secure and well-accounted for.

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Transcript: Edward Chancellor

Barry Ritholtz

CHANCELLOR: And look — yeah, but then if you look at the valuation of the market at that time, the market was — the U.S. CHANCELLOR: And look — yeah, but then if you look at the valuation of the market at that time, the market was — the U.S. All our economic actions are taking place across time.

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Trump Unveils Measures To Combat Economic Impact of Virus

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President Donald Trump unveiled a number of executive actions designed to blunt at least some of the economic impact of the coronavirus, which continues to spread across the United States. Added Corbat, the head of Citigroup: “This is not a financial crisis…the banks and the financial system are in sound shape and we are here to help.”

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Transcript: Rick Rieder

Barry Ritholtz

Now, we’re shifting to more international places like China, Europe, et cetera, that are really growing, and that valuations are cheaper. RIEDER: And all of a sudden, you change the economic paradigm so darn fast. You know, started with Bear Stearns, and then all of a sudden, financial institutions are levered entities.

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Regulators Eye Google, China’s Interest Rates, Crypto Risk Framework Looms?

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Economics, of course, is an internal event, as well as an external one, that crosses borders via trade. The move, Reuters noted, is one that seeks to offset some of the impact of the aforementioned trade war, which could include a slowdown of overall economic growth. China’s Lending Rates In Crosshairs.