Crypto dossiers - Goldman to buy GreenSky - Robinhood's CMO exits
On the agenda today:
- We outlined 10 of the biggest banks' crypto offerings - or lack thereof - in our digital-asset dossiers.
- Goldman Sachs has agreed to buy home-improvement lender GreenSky.
- Robinhood's CMO is leaving after just a year with the company.
Let's get started.
Amid surging customer interest in cryptocurrency, some of Wall Street's biggest banks have unveiled plans to implement crypto, while others have held off. To help you navigate the twists and turns of the crypto boom, we've compiled a list of 10 of the biggest banks' crypto offerings (or lack thereof), executives, and public statements. Read the digital-asset dossiers.
Goldman Sachs has agreed to buy GreenSky, which provides installment loans and lines of credit for home-improvement projects, in an all-stock deal valued at $2.24 billion. We spoke with Stephanie Cohen, co-head of Goldman's consumer-banking division, who explained why they inked the deal.
Christina Smedley, Robinhood's chief marketing and communications officer, is leaving the company after just a year, and declined to say where she's heading next. Here's a look at her tenure at Robinhood.
UBS, Wells Fargo, and Bank of America have all created new executive roles and teams aimed at reaching diverse clients in an overwhelmingly white, male industry. Get the latest on the wealth managers' newest hires - and how they're working to better serve diverse consumers.
Even though the SPAC market is cooling off, hedge fund manager Axon Capital is just getting started in the space. The hedge fund just launched its first SPAC last month, and is planning on rolling out two more focused on health care and energy. Axon's co-CIO shares why the fund is all-in on SPACs.
TomoCredit, a fintech lender that offers credit to people with thin- and no-credit histories, just raised $10 million for its Series A. Check out the pitch deck the fintech used to secure funding.
Novogratz, Galaxy Digital CEO, said he wasn't quick enough to short litecoin during its brief surge this week. The coin spiked after a quickly debunked press release claimed Walmart would accept litecoin for payments - but the crypto billionaire was too slow to short the coin. Here's what else he said about the debacle.
On our radar:
- LA County's pension fund is yanking $6.3 billion from investment-grade bond funds and pouring some of that money into hedge funds. Here's why.
- Wells Fargo will transfer its workloads to cloud services from Microsoft and Google, WSJ reports. It's now the biggest bank to make such a confident bet on the cloud.
- A former Goldman Sachs analyst who raised over $8.5 million for her fashion startup explains how she realized finance wasn't for her.
- Robinhood is giving away $100,000 to recruit college students to use its app. Here's what you need to know.