What you need to know on Wall Street today

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Welcome to Finance Insider, Business Insider’s summary of the top stories of the past 24 hours. Sign up here to get the best of Business Insider delivered direct to your inbox. The 3 men who steered the US through the 2008 crash think we’re forgetting lessons from the crisis Three men who played a central role in […]

A former Facebook executive reveals why she’s so bullish on Airbnb, the $31 billion startup with ‘virtually no competition’ that everyone wants to see IPO in 2019 (FB)

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Airbnb investor SC Moatti is among the few dozen investors who stand to turn a huge profit if the home-rental startup goes public in 2019, as many believe it will.  Moatti, a managing partner of Mighty Capital, said she first used Airbnb as a host. The user experience blew away her expectations. She decided to […]

Bitcoin may be down 45% this year, but money is pouring into one crypto fund at the fastest clip in its history

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Grayscale Investments put out its first Digital Asset Investment report, showing record-breaking stats for its business.  The firm raised $250 million in new assets during the first six months of the year, the strongest pace of inflows ever for such a period.  Bitcoin is trading down more than 45% since the beginning of the year, […]

Genesis frontman Peter Gabriel has invested in a blockchain startup

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Genesis lead singer Peter Gabriel backed a British blockchain startup. Provenance uses the technology underpinning cryptocurrencies to show people where their food comes from. Legendary 80s singer Peter Gabriel has put an undisclosed amount of funding into Provenance, a British blockchain startup that aims to make supply chains more transparent. Gabriel joins a roster of […]

Here comes Morgan Stanley earnings… (MS)

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Morgan Stanley is set to announce second quarter earnings results Wednesday morning. Here’s what analysts are expecting and other themes to look out for.  Revenue: $10.08 billion Net income: $1.96 billion  Earnings per share: $1.11 Return on equity: 10.1% Trading: Investors will be looking for insight into whether the bank witnessed further growth in its […]

2 top Democrats want Congress to interview the interpreter who was in the room with Trump and Putin

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Two top Democrats are calling on Congress to interview the interpreter for President Donald Trump in his meeting with Russian President Vladimir Putin. The interpreter is Marina Gross. Two top Democrats are calling on Congress to interview the interpreter for President Donald Trump during his meeting with Russian President Vladimir Putin on Monday in Helsinki, […]

A throwaway comment from Goldman Sachs’ CFO shows how automation is changing Wall Street (GS)

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Goldman Sachs CFO Marty Chavez on Tuesday provided a window into the dramatic shift taking place across Wall Street as technology touches everything from trading to investment banking. The CFO’s comment, made during a second quarter earnings call with analysts, suggests that the firm is beginning to move away from a decades-old focus on the […]

Citadel Securities, a massive Wall Street trader, has made an unusual bet on humans, and it could help the firm tap into $800 billion

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Citadel Securities, one of the largest electronic trading firms, has been growing its designated market making business since it bought the unit from KCG in 2016.  DM Ms are human traders on the floor of the New York Stock Exchange who are responsible for maintaining fair and orderly markets for particular stocks.  Taking on this […]