Signature Bank (SBNY) began focusing on cryptocurrency in its final years, accepting customers from the industry in 2018. By 2021, the bank received over 16% of its deposits from the sector and held reserve monies from the Circle-managed USDC. This strategy proved risky and earned the bank the reputation of a “crypto bank”. Founder DePaolo…
Intel Corporation, the world’s largest chipmaker, has announced a two-thirds cut in its dividend, dropping it to 50 cents a year. The move comes as the company faces mounting pressure to fund its expensive turnaround plan amid concerns over its competitive position and a sinking market for PC sales that still drives the bulk of…
Elon Musk triumphs, after he has won the recent court case against investor claims that he violated federal securities law. The jury rejected the claims and found that the investors failed to prove their case against Elon Musk and Tesla Inc. This case is another example of Elon Musk‘s unusual appetite for seeing cases through…