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No, Trump hasn’t sparked a constitutional crisis

“Yet, on Monday, Washington Post columnist Eugene Robinson declared that we must “stop waiting for the constitutional crisis that President Trump is sure to provoke” writes Evan Vucci Ap for washingtonexaminer.com. It attracts clicks from outraged conservatives and head-nodding liberals, but it’s silly to claim that President Trump has sparked a constitutional crisis with his latest tweets claiming that investigators focused on his presidential campaign have engaged in misconduct. Source: washingtonexaminer.com Share This:

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Ransomware Increases Its Attack On Supply Chains

“Different jurisdictions face different ransomware attacks: in Australia, the education sector was the most attacked, accounting for 26 percent of 2017 ransomware cases” reports pymnts.com. The business and professional services industry was particularly affected by this increase, researchers noted, hit by 10 percent of global ransomware attacks.New research from the NTT Security 2018 Global Threat Intelligence Report, released last week by Dimension Data, found a sharp increase in ransomware attacks aimed at supply chains last year.And while financial services attacks declined by 20 percent from 2016 to 2017, it remains…

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Markets News 

China says opening up of financial sector will need reciprocity

“China’s push to open up its financial sector to foreign banks and financial institutions will be based on the principle of reciprocity and will not reward protectionism by other countries, an official said on Saturday” reports cnbc.com. Promoting the opening of China’s financial industry to the outside world and further improving the fairness and transparency of the domestic financial market will help create a more favorable policy environment for the overseas development of China’s financial institutions,” he said.Opening up the financial sector to foreign firms would improve domestic resource allocation…

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Goldman, World Bank fund for women entrepreneurs hits $1 billion in investments

“This has resulted in a $1.5 trillion credit deficit for women entrepreneurs in emerging markets” reports businessinsider.com. The Women Entrepreneurs Opportunity Facility, launched in 2014 by Goldman and the World Bank’s International Finance Corp private-sector development arm, had initially set a goal of providing capital to 100,000 women entrepreneurs over 10 years, but has reached 50,000 in just four years.The institutions said $1 billion in investments were made in 26 financial intermediaries in 26 countries, including some of the world’s poorest and most conflict-affected states.The World Bank Group estimates that…

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Crypto Markets News 

Coinbase announces institutional suite of products and adds Chicago office to better serve institutions

“The Coinbase Institutional Coverage group is focused exclusively on serving the needs of institutional clients by providing sales, sales trading, research, market operations and client services support” writes Erik Gibbs for coingeek.com. To learn more about Coinbase and its new products, services and offerings, please visit coinbase.com.Over the course of the year Coinbase Markets will introduce new features like low latency performance, on-premise datacenter colocation services, institutional connectivity and access, and settlement and clearing services. Source: coingeek.com Share This:

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Crypto News 

Coinbase Targets the Big Dogs With a Suite of Institutional Products

“Now, Coinbase has launched a range of products and services designed for institutional clients” reports sludgefeed.com. Additionally, the company is now offering block trades for institutional clients via GDAX. Given that more and more competitors are beginning to move into the retail investor market, including UK-based Revolut, Coinbase is clearly focused on securing market share through institutional clients. Source: sludgefeed.com Share This:

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Crypto News 

Coinbase launches Coinbase Custody, a service for safekeeping of cryptocurrencies aimed at Wall Street financial institutions

“Coinbase is launching Coinbase Custody to help big institutions like sovereign wealth funds, pension plans or asset managers store digital assets, known as a custody service” writes May Edt for recode.net. The cryptocurrency exchange Coinbase is making its long-awaited play to help institutional giants more comfortable using its platform to invest in digital money.The surge of interest in crypto was led by retail investors, not major financial institutions. “A bunch of institutions looked up and said, ‘We can’t ignore this anymore.It’s a common service feature for other financial instruments, and…

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Thieves suck millions out of Mexican banks in transfer heist

“Hackers have used SWIFT connections to attack banks around the world.The central bank and banks have said that no clients had been affected so far” writes Midwest Communications Inc for 95kqds.com. Martinez said that the transfers hit accounts of financial institutions in the central bank.Martinez said that the central bank’s SPEI interbank transfer system was not compromised but that the problem had to do with software developed by institutions or third-party providers to connect to the payment system.MEXICO CITY (Reuters) – Thieves siphoned hundreds of millions of pesos out of…

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Russia Remains Chief Sanctions Risk for Companies, Banks

“European companies and banks will have to carefully map their relationships to Iranian institutions to determine potential exposure to secondary sanctions, one of the most painful aspects of the U.S. sanctions, said Ms” writes Mara Lemos-stein Wsj for wsj.com. U.K. Finance fielded dozens of calls and hosted several briefings to help banks navigate the shifting landscape, she said. Source: wsj.com Share This:

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