Why Wells Fargo Thinks Bitcoin Its Early, But Not “Too Early”
Banking giant Wells Fargo recently published a special report on Bitcoin and cryptocurrencies. The document explores the adoption curve of this new asset class, and attempts to answer the question, it is too early or too late to invest in crypto? Related Reading | Bybit Integrates With Cabital’s Fiat On-Ramp Gateway For Fair Crypto-Rates The […]
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Per a report from the United States Department of Justice, authorities stopped two individuals that allegedly conspired to launder 119,754 Bitcoin (BTC). The funds have been traced back to the 2016 hack on crypto exchange platform Bitfinex. Related Reading | Why Wells Fargo Thinks Bitcoin Its Early, But Not “Too Early” As of press time, […]
Wells Fargo is the next major banking and financial services provider to join the mix of offering crypto assets. The news comes after last week’s report that Swiss-based institution UBS Group AG was looking to make a similar move. Wells Fargo’s Change In Perspective Just a few years ago, Wells Fargo was banning credit card […]
Wells Fargo will soon offer “a professionally managed solution” for cryptocurrency to clients. “We think the cryptocurrency space has just kind of hit an evolution and maturation of its development that allows it now to be a viable investable asset,” said the president of Wells Fargo Investment Institute. Wells Fargo Getting Into Crypto Darrell Cronk, the president of Wells Fargo Investment Institute, a registered investment adviser and wholly owned subsidiary of Wells Fargo Bank, revealed his team’s crypto plans to the Insider in an interview published....
"Rules of Engagement" are the exact words that Wells Fargo used, I can't make this stuff up guys... Even if I wanted to. As reported first in an FT article by Stephen Foley and Camilla Hall, Wells Fargo's anti-money laundering chief Jim Reynolds has launched a group to investigate how exactly Wells Fargo, and major financial institutions by extension and inclusion, might offer banking arrangements safely to Bitcoin-related services. Wells Fargo's chief executive John Stumpf further elaborated stating that it was Wells Fargo's standard bank practice to look into any financial innovations,....
A major factor which played a part in the Wells Fargo scam was poor and non-transparent data management. Could implementation of the Blockchain have helped in preventing the occurrence of such fraudulent activities? Bank too big to manage. The unethical behaviour by Wells Fargo has generated a lot of reaction from both the legal and the financial institutions in recent weeks. Wells Fargo employees secretly created millions of unauthorized bank and credit card accounts without their customers knowing it. The illegal accounts earned the bank unwarranted fees and allowed Wells Fargo employees....