GBP News 

Aviva, NatWest to join ‘Brexodus’ of business to EU

“Aviva was among the last of the big insurers to secure court approval for shifting chunks of life, general, property, casualty and motor insurance policies to EU hubs” reports businessinsider.com. It had previously secured court approval to move around 1 billion pounds in general insurance assets.Among banks, Britain’s Barclays secured court approval last month to move 190 billion euros in assets to a Dublin subsidiary.The High Court in London approved the transfer of policies after a hearing on Aviva’s application last week to move life insurance assets.Most of the policies…

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Crypto News 

Coinbase Buys Blockchain Intelligence Startup Neutrino

“Based in Italy, Neutrino helps map blockchain networks, and in particular crypto token transactions, to pull in information and insight” reports techcrunch.com. Coinbase, the world’s most valuable crypto company, is gearing up to add more cryptocurrencies to its exchange thanks to its latest acquisition.We already know the firm wants to a glut of new crypto assets, but today it announced it has snapped up blockchain intelligence startup Neutrino in an undisclosed deal that seemed destined to help further that goal. Source: techcrunch.com

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News 

Citi to double Brazil commercial bank unit’s assets by 2020

“The bank’s commercial unit has roughly 5 billion reais ($1.34 billion) in assets, out of 75 billion reais for Citi’s Brazilian operation as a whole, most of it dedicated to larger corporations” reports businessinsider.com. This move underscores a shift in Citi’s strategy in Brazil toward wholesale activities after selling its retail assets there to Itaú Unibanco Holding SA for 710 million reais.Rubens said those assets jumped by 27 percent in 2018 as an economic recovery increased demand. Source: businessinsider.com

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Crypto News 

Storing Your Crypto: 3 Tips to Make Sure Your Crypto Assets are Secure

“Over the last couple of weeks, the world has watched as the QuadrigaCX crypto exchange unfolded” reports livebitcoinnews.com. Keeping your crypto in an exchange wallet defeats the entire purpose of a decentralized system.Long story short, the exchange lost access to the majority of its assets in cold storage after the founder died unexpectedly. Source: livebitcoinnews.com

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News 

Survey: 41% of Institutional Investors to Invest in ICOs Within Five Years

“The survey was conducted in December 2018 and January 2019 by market research company PollRight, and included responses from 71 global institutional investors, including private equity, hedge funds and pension funds” writes Max Yakubowski for cointelegraph.com. According to a survey of institutional investors conducted by the Global Blockchain Business Council (GBBC), 19 percent believe that digital assets will be regularly invested in and traded by 2021. Recently, cryptocurrency assets management fund Grayscale Investments presented their Q4 2018 report, noting that institutional investors were responsible for the majority of digital assets…

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News 

Elizabeth Warren’s proposed wealth tax on the richest Americans won’t remove the incentive to work, no matter what billionaires say

“According to a recent poll, more than 60% of registered voters support the wealth tax proposal put forth by Presidential candidate Elizabeth Warren” writes Henry Blodget for businessinsider.com. Warren’s proposal would tax the wealth of only the richest Americans — those with assets of $50 million or more.Compared to the tax policies we’ve had for the past few decades, a wealth tax is a radical idea. Watch the latest episode of “BI Today,” in which INSIDER CEO Henry Blodget discusses what a wealth tax would mean for the economy ».…

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Crypto News 

Is JPMorgan Chase’s New Cryptocurrency a Threat to Ripple, Other Crypto Assets?

“Mega-bank JPMorgan Chase (NYSE:JPM) recently announced that it will launch its own cryptocurrency, becoming the first U.S. bank to do so” writes Matthew Frankel for fool.com. However, there are some big differences between bitcoin, the more than 2,000 other existing cryptocurrencies (that’s not a typo), and the new cryptocurrency JPMorgan Chase is planning to create.The new cryptocurrency will be called JPM Coin, and the purpose will be to speed up transaction settlement times.Also, JPM Coin will be a so-called “stable coin,” with its value pegged to the U.S. dollar. Source: fool.com

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Crypto News 

First Ever US Pension Funds to Invest in Bitcoin

“A branch of the investments managing firm Morgan Creek Capital Management, Morgan Creek Digital surpassed its original goal of 25 Million USD for the fund” reports livebitcoinnews.com. Morgan Creek Digital is taking things a notch higher with a claim that they are probably the first US pension fund to ever pour money in the digital currency business.There are three distinct welfare programs conducted by the Fairfax County Retirement Systems, 2-thirds of them investing in the Morgan Creek Digital fund, according to Pompliano.Fairfax County, Va., has two pension plans that are…

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News 

Japan’s Nikkei closes near flat levels amid hope for progress in trade talks

“Risk assets got a bit of a jolt higher earlier and we have since seen the aussie and kiwi extend gains as we move towards European trading” reports forexlive.com. But if you want to look at it from another angle, it could also mean that plenty of the optimism from trade talks this week are already baked into markets; so risk assets may just have to rely on something else if they want to pull off a sustained rally over the next few weeks. There’s a hint of caution in…

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News Stocks 

Principal Financial held takeover talks with fund firm WisdomTree last year, and it shows how ETFs are driving a wave of M&A

“ETF manager WisdomTree held sale talks with asset manager Principal Financial Group late-last year, sources tell Business Insider” writes Bradley Saacks for businessinsider.com. The firm has partnered with distribution platforms like TD Ameritrade to offer model portfolios made up of WisdomTree and other asset managers’ ETFs.The industry is suffering from fee pressures, outflows, and increased market volatility, which has triggered some asset managers to consider striking deals.Shares of WisdomTree cratered in the last 12 months, falling 40% amid a broader sell-off among asset managers. Source: businessinsider.com

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