Alibaba slides after its chairman announces he’ll step down in a year (BABA)

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Alibaba shares dropped after the company announced that Jack Ma, its co-founder and executive chairman, will step down in a year. CEO Daniel Zhang will succeed Ma, who will remain a permanent member of the Alibaba Partnership after retirement. Jefferies analysts said the 12-month timeframe would enable a smooth transition with lower “key-man risk” following Ma’s […]

‘This is something we have to do to push the ecosystem forward’: Tyler Winklevoss explains why Gemini’s launching a crypto coin pegged to the US dollar

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Gemini, the cryptocurrency exchange, is launching its own stable-coin pegged to the US dollar, the company announced Monday.  The firm hopes the crypto will become a digital cash, bringing together the best of fiat and blockchain assets. Gemini says the crypto’s design, which includes oversight by US financial regulators and monthly audits, will make it […]

Meghan Markle and Prince Harry have announced their first royal tour — and the destination proves they’re following in Princess Diana’s footsteps

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Meghan Markle and Prince Harry will go on their first official royal tour in October, and Kensington Palace announced the full itinerary on Monday. The Duke and Duchess of Sussex will visit Australia, Fiji, the Kingdom of Tonga, and New Zealand. They will be following in the footsteps of Prince Charles and Princess Diana, who went on […]

Citigroup has created a new, less risky way of investing in crypto — and it may be a game changer for the industry (C)

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Citigroup has created what it’s calling a Digital Asset Receipt or DAR, thought to be the most direct way to invest in cryptocurrencies without owning them, according to people with knowledge of the project. The DAR works much like an American Depository Receipt, which gives US investors the ability to invest in foreign stocks that […]

From health clinics at Whole Foods to Alexa for home care, here’s how Amazon could dominate healthcare (AMZN)

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Amazon is poised to make a splash in the healthcare arena, following its recent acquisitions of PillPack and Whole Foods as well as its joint venture with Berkshire Hathaway and JPMorgan.  A new report says that Amazon could offer new healthcare services that are based off of its current businesses.  For example, Amazon could use […]

Coinbase is exploring a crypto ETF, and it has sought help from $6 trillion Wall Street giant BlackRock

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Coinbase is looking to create an exchange-traded product tied to crypto, according to people familiar with the matter, as a way to allow retail investors to gain access to the volatile market. The firm in recent weeks has held conversations with members of BlackRock’s blockchain working group to tap into the firm’s expertise at launching […]

Goldman Sachs is ditching near-term plans to open a bitcoin trading desk, instead focusing on a key business for driving Wall Street investment in crypto

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Goldman Sachs is putting on hold plans to open a desk to trade cryptocurrencies, including bitcoin, according to people familiar with the matter. The bank is downgrading the plans as the regulatory landscape for crypto remains uncertain. Goldman is instead focusing its energy on a custody product for crypto meant to better service large institutional […]