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After an initial rise, sterling fell as much as 0.56% against the dollar to a low of $1.2691 following this month's inflation figures. Investors and money managers now turn their focus to Fed chief Jerome Powell's testimony before Congress at 10:00 a.m. "The former may do more to give additional support to send the dollar index and (bond) yields higher." The rally against the yen pushed the U.S. dollar index , which measures the currency against six major peers, up slightly to 102.58. "The Aussie could dip below 0.6700 this week, particularly if Powell is hawkish," he said.

Persons: Powell, Jerome Powell's, Adam Cole, Kazuo Ueda, Tuesday's, Joe Capurso, Bitcoin, Charles Schwab, Tom Westbrook, Farouq Suleiman, Sam Holmes, Kim Coghill, Sharon Singleton Organizations: Federal, RBC Capital Markets, Bank of Japan, U.S, Commonwealth Bank of Australia, Fidelity, Citadel Securities, Thomson Locations: SINGAPORE, LONDON, Asia, Pacific, China, Tokyo

☆ Dollar firm ahead of Powell testimony, sterling up on hot inflation
▼ + stars: | 2023-06-21 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

Sterling briefly rose as far as 0.3% against the dollar to $1.2803 before settling back to $1.2765. It also rose slightly on the euro and yen , as traders were betting the Bank of England would need to take rates higher. Powell is due to begin his testimony before Congress at 1400 GMT. "The former may do more to give additional support to send the dollar index and yields higher." "The Aussie could dip below 0.6700 this week, particularly if Powell is hawkish," he said.

Persons: Powell, Jerome Powell's, Sterling, Tuesday's, Joe Capurso, steadying, Charles Schwab, Tom Westbrook, Sam Holmes, Kim Coghill Organizations: Federal, Bank of England, Bank of Japan, Fed, Commonwealth Bank of Australia, New Zealand, U.S, Fidelity, Citadel Securities, Thomson Locations: SINGAPORE, Asia, China, Tokyo

☆ Bitcoin Jumps as Traditional Firms Tap Crypto
▼ + stars: | 2023-06-21 | by ( ) www.wsj.com time to read: +1 min

Bitcoin continues to rally, with analysts citing recent moves by traditional financial firms to tap the crypto market as a bet on the industry. BlackRock has filed paperwork with the Securities and Exchange Commission for a spot bitcoin exchange-traded fund. A new cryptocurrency exchange backed by Citadel Securities, Fidelity Investments and Charles Schwab has begun executing trades. Bitcoin has risen close to 8% over the past 24 hours to $28,891, according to CoinDesk. Ether is 5% higher Wednesday, while the Binance token, BNB, is up over 2%.

Persons: Bitcoin, Charles Schwab, Binance Organizations: BlackRock, Securities and Exchange Commission, Citadel Securities, Fidelity Investments, Deutsche Bank, SEC Locations: U.S

☆ Nominations for Insider's Wall Street rising stars are open. Here's how to submit a rockstar trader, investor, or dealmaker.
▼ + stars: | 2023-06-21 | by ( Michelle Abrego | ) www.businessinsider.com time to read: +1 min

Insider is putting together a power list of the young talent on Wall Street. We want to spotlight the standouts in investment banking, investing as well as sales and trading. Morning Brew Insider recommends waking up with, a daily newsletter. We're seeking nominations for Insider's list of rising stars on Wall Street, and we want to hear from you. Please make your submission below or through this form by August 4th to have your selection considered for the list.

Persons: we've, Goldman Sachs, Michelle Abrego Organizations: Morning, Blackstone, BlackRock, Citadel Securities, mabrego

☆ BlackRock applied to launch a bitcoin fund. Then came the conspiracy theories.
▼ + stars: | 2023-06-21 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +5 min

Crypto influencers seized on BlackRock's application to launch a bitcoin exchange-traded fund. Some said it sends a bullish sign to the wider crypto market; others spread conspiracy theories. The attention underscores the relatively new scrutiny BlackRock faces in the mainstream. "So BlackRock, Citadel, Deutsche Bank and NASDAQ have all started to enter the crypto space in the last week. Citadel, BlackRock, Schwab JPMorgan…" (These tweets refer to Citadel, the hedge fund founded and led by billionaire Ken Griffin.

Persons: Crypto influencers, BlackRock, Matt Hougan, Michael Novogratz, Brian Armstrong, Morgan Chittum, permissioned blockchains, Fink, bitcoin, Crypto, They've, Schwab JPMorgan …, Ken Griffin, Griffin, That's, Rich Latour, Latour Organizations: BlackRock, Morning, US Securities and Exchange Commission, Coinbase, Bitwise Asset Management, Galaxy Digital, SEC, Citadel, Deutsche Bank, NASDAQ, Citadel Securities Locations: bitcoin, BlackRock, cryptoland

☆ Crypto Exchange Backed by Citadel Securities, Fidelity, Schwab Starts Operations
▼ + stars: | 2023-06-20 | by ( Alexander Osipovich | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones, schwab

☆ Bitcoin hits new high for June as more financial incumbents signal commitment to crypto
▼ + stars: | 2023-06-20 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

The application came a week after the Securities and Exchange Commission sued two of the biggest crypto exchanges, Binance and Coinbase. The price of bitcoin climbed on Monday as financial institutions continued to give their bitcoin blessing. Then Tuesday morning, a new crypto exchange backed by financial giants Charles Schwab, Fidelity Digital Assets and Citadel Securities announced that it has been live for several weeks trading bitcoin and ether. Many financial incumbents are keen to show enthusiasm for blockchain technology and the ways it can advance old financial infrastructure. Bitcoin has struggled to break out of a narrow trading range this quarter but has yet to fall meaningfully under $25,000.

Persons: Bitcoin, bitcoin, Charles Schwab Organizations: Mobile, BlackRock, U.S, Securities and Exchange Commission, Metrics, Fidelity Digital Assets, Citadel Securities, Fidelity Locations: Barcelona, Spain

☆ EDX crypto exchange goes live offering bitcoin and ether trading, backed by Schwab and Fidelity
▼ + stars: | 2023-06-20 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

A crypto exchange backed by financial giants Charles Schwab , Fidelity Digital Assets and Citadel Securities has officially launched trading in four crypto assets, the company said Tuesday. EDX Markets first announced its launch plans for a "non-custodial" exchange in September, about two months before the collapse of FTX. The EDX exchange allows trading of bitcoin , ether , litecoin and bitcoin cash – none of which were named "crypto asset securities" in the lawsuits the Securities and Exchange Commission brought against Binance and Coinbase two weeks ago. EDX also has plans to launch a clearinghouse business this year to facilitate the settlement process but will still keep customer assets held at third-party banks and a crypto custodian. The company is set to announce Tuesday that it has closed a second funding round with new investors, including the options-exchange operator Miami International Holdings and affiliates of proprietary trading firms DV Trading, GTS, GSR and Hudson River Trading.

Persons: Charles Schwab, Binance, EDX Organizations: Fidelity Digital Assets, Citadel Securities, EDX, Sequoia Capital, Virtu, BlackRock, Securities and Exchange Commission, Miami International Holdings Locations: U.S, Hudson

☆ Inside the rise of a Wall Street wunderkind
▼ + stars: | 2023-06-16 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Achieving success at an early age is impressive in any industry, but it's particularly awe-inspiring on Wall Street. Kuenzel, who started as an intern at hedge fund Citadel in 2018 and focused on quantitative research, spoke about his rise within Griffin's financial empire. It's a good lesson for how fixing issues at work is a surefire way to supercharge your career. The Fed and the SEC are investigating the work Goldman did with SVB in the lead-up to its failure, The Wall Street Journal reports. If you're suffering from pre-diabetes or obesity, intermittent fasting could be a good way to control your blood sugar.

Persons: Dan DeFrancesco, Wilhelm, we've, Peter Cade, Emmalyse Brownstein, Soeren Kuenzel, Ken Griffin's, Kuenzel, Griffin, Nancy Luna, Goldman Sachs, Adam Dell, Morgan Stanley, Crispin Odey, Goldman, Qi Tom Chen, Horace Mann School, Jeffrey Cane, Nathan Rennolds Organizations: Getty, Citadel Securities, Citadel, Bloomberg, Odey, Management, JPMorgan, SEC, Street, CNBC, Horace Mann, LinkedIn Locations: London, New York

☆ Rising the ranks at Citadel Securities: How this 31-year-old rose from intern to head of foreign exchange in 5 years
▼ + stars: | 2023-06-16 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +9 min

At 31, Soeren Kuenzel runs Citadel Securities' FX team, overseeing hundreds of billions in trades. Just ask Soeren Kuenzel, the head of foreign-exchange trading at Citadel Securities who's now responsible for billions in complicated currency trades at just 31 years old. It was sponsored by Citadel, the hedge-fund firm led by the billionaire Ken Griffin, alongside the market maker Citadel Securities. Citadel Securities, launched by Griffin in 2002, is one of the biggest trading houses matching sellers and buyers of stocks, bonds, and currencies across the globe. He finished his doctorate at Berkeley in 2019 and began working that fall as a quant researcher at Citadel Securities full time in Chicago.

Persons: Soeren, Soeren Kuenzel, Kuenzel, Ken Griffin, Griffin, Fang Wu, Wu, It's, Yale's, I've, he's, that's, Alex Morell Organizations: Citadel Securities, FX, University of California, Facebook, Apple, Citadel, New York Stock Exchange, Chicago, Berkeley, Yale's men's, Cape, Cape Florida Lighthouse Locations: Berkeley, Miami, Europe, Chicago, Germany, Cape Florida

☆ Billionaire Ken Griffin says good programmers' days are numbered. Here's what will make a coder stand out.
▼ + stars: | 2023-06-08 | by ( Paige Hagy | ) www.businessinsider.com time to read: +4 min

Ken Griffin spoke to the newest class of Citadel interns at the Four Seasons on Tuesday. The CEO said generative AI is changing the game and it's harder than ever to stand out as a programmer. Billionaire Citadel founder Ken Griffin says the days of the good programmer are numbered, and generative AI is the reason why. "Programming is going to be a big target for generative AI," Griffin said, according to people who heard him speak. The days of 'I'm a good programmer' are becoming numbered."

Persons: Ken Griffin, Griffin Organizations: Citadel, Citadel . Billionaire Citadel, CNBC, Citadel Securities, NASA, US Army Locations: Fort Lauderdale, Wall

NEW YORK, June 8 (Reuters) - Cryptocurrency operator Circle Internet Financial said on Thursday it has hired Heath Tarbert, former chair of the Commodity Futures Trading Commission, as the its chief legal officer and head of corporate affairs, effective July 1. Tarbert, a former corporate attorney and senior Treasury Department official, more recently worked for electronic trading firm Citadel Securities. Boston-based Circle, the issuer of stablecoin USDC, in December decided to end a $9 billion deal to merge with blank-check firm Concord Acquisition Corp . "As we continue building a bridge between traditional finance and Web3, Heath's perspective, legal acumen and global regulatory experience will help us advance the utility value of USDC worldwide," Jeremy Allaire, chief executive officer of Circle, said in a statement. Reporting by John McCrank; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Heath Tarbert, Tarbert, Jeremy Allaire, John McCrank, Chizu Organizations: YORK, Futures Trading Commission, CFTC, Securities and Exchange Commission, Treasury Department, Citadel Securities ., Concord, Corp, Thomson Locations: U.S, Citadel Securities . Boston

☆ Citadel's Ken Griffin says the A.I. community is making a mistake by creating so much hype
▼ + stars: | 2023-06-07 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Ken Griffin, founder and CEO of Citadel, believes the hype around artificial intelligence could be overblown at this early stage. "I do think the AI community is making a terrible mistake by being full of hype on the near-term implications of generative AI," Griffin said Tuesday during an event for Citadel's new class of interns in Fort Lauderdale, FL. "I think they're actually doing everybody a huge disservice with the level of hype they are creating." One industry that could see a material impact from AI is programming and software engineering, Griffin said. "Programing is going be a big target for generative AI," Griffin said, asked by an intern about AI's impact on his business.

Persons: Ken Griffin, Griffin, chatbot, Warren Buffett Organizations: Citadel, Nvidia, AI Safety, Harvard, MIT, Citadel Securities Locations: Fort Lauderdale , FL, Fort Lauderdale, Palm Beach

☆ Citadel's red-hot run has led to a new problem: It's harder than ever to nab an internship there
▼ + stars: | 2023-06-05 | by ( Paige Hagy | ) www.businessinsider.com time to read: +6 min

Billionaire Ken Griffin's Citadel internship program is attracting more students than ever before. Citadel, the $57 billion hedge fund, and market maker Citadel Securities recruit hundreds of undergraduate and graduate students every year for an 11-week summer internship program. The internship starts Monday, with a kickoff week at the Four Seasons in Fort Lauderdale and Palm Beach. "We think of campus recruiting very much the same way that other firms think of executive recruiting," Mitro said. "All of it is geared towards simulating what life would be like for them if they were to join the firm," Mitro said.

Persons: Ken, Matt Mitro, Griffin, Mitro, It's, it's, commerciality, UT Austin — Organizations: Citadel, Citadel Securities, New, Wayback, NASA, US Army, MIT, UC Berkeley, Harvard, Stanford, Princeton, UT Austin, Mathematical Association of America, Intercollegiate, Discover Citadel Locations: Fort Lauderdale, Palm, Citadel, Miami, New York City, Singapore, Paris, Palm Beach, New York, Chicago, London, Hong Kong

☆ Submit your nominations for Insider's 2023 class of Wall Street rising stars here
▼ + stars: | 2023-06-05 | by ( Michelle Abrego | ) www.businessinsider.com time to read: +1 min

Insider is putting together a power list of the young talent on Wall Street. We want to spotlight the standouts in investment banking, investing as well as sales and trading. Morning Brew Insider recommends waking up with, a daily newsletter. We're seeking nominations for Insider's list of rising stars on Wall Street, and we want to hear from you. Please make your submission below or through this form by August 5th to have your selection considered for the list.

Persons: we've, Goldman Sachs, Michelle Abrego Organizations: Morning, Blackstone, BlackRock, Citadel Securities, mabrego

☆ High-stakes game of keeping secrets on Wall Street
▼ + stars: | 2023-05-18 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

Citadel Securities' trading strategies? Look no further than a recently filed lawsuit by Citadel Securities against two former employees, per Bloomberg. The suit, which you can read here, alleges the former employees were building a competing high-frequency trading firm while still employed and used trade secrets gained while at Citadel Securities. Portofino told Bloomberg that the Citadel Securities lawsuit was "corporate bullying" and that it would defend itself. On the one hand, trading firms invest a lot of money — check out some salary ranges here — in developing these strategies.

☆ Thanks for the memories (and money) index-rebalance strategies
▼ + stars: | 2023-05-12 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +4 min

A man pauses outside of the New York Stock Exchange (NYSE) on January 15, 2016 in New York City. Index-rebalance strategies, the talk of the town just a few short years ago, are seemingly on their last legs these days. What doomed the index-rebalance strategy is a tale as old as time on Wall Street. Times are tough now, but as Alex notes in his story, not everyone is completely giving up on the strategy. And while we're talking Man Group, here's a rundown on a program meant to help non-tech workers learn data-science skills to help streamline their jobs.

[1/2] Florida Governor Ron DeSantis speaks at the 2023 NHGOP Amos Tuck Dinner in Manchester, New Hampshire, U.S., April 14, 2023. REUTERS/Brian SnyderApril 26 (Reuters) - In his face-off with Walt Disney Co (DIS.N), Florida Governor Ron DeSantis has frequently adopted the pose of a swaggering gunfighter out of the Wild West. “There’s a new sheriff in town,” DeSantis boasts to conservative audiences nationwide as he prepares to launch his 2024 presidential bid. But as his clash with Disney escalates, so does the political risk for DeSantis and his nascent campaign. Billionaire Ken Griffin of Citadel Securities last year remarked that DeSantis’ actions amounted to “retaliation against corporate America.”“The war with Disney made some sense for a time in the context of Governor DeSantis’ presidential aspirations.

☆ Two of Ken Griffin's biggest donations sit on opposite sides of the spectrum
▼ + stars: | 2023-04-12 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Griffin, who founded Wall Street giants Citadel and Citadel Securities, donated $300 million to Harvard's Faculty of Arts and Sciences (FAS). However, it's interesting to see how two of his biggest contributions — DeSantis and Harvard — seem to operate on opposite ends of the spectrum. Click her to read our profile on Ken Griffin's rise to the top of Wall Street. Wall Street is drying out wells to drive up returns in California. Click here for more on the water woes created by Wall Street.

☆ Is Jamie Dimon the most powerful person in finance?
▼ + stars: | 2023-03-31 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

Insider's Carter Johnson has a story on one executive whose profile continues to rise: Jamie Dimon. Carter's story got me thinking: Who's the most powerful person in finance? Warren Buffett: Before you jump down my throat, realize this is a list of the most powerful people in finance not on Wall Street. Place your vote here — or name someone else — for who you think is the most powerful person in finance. The bank was hit with a nearly $100 million fine for letting a foreign bank make prohibited transactions, The Wall Street Journal reports.

☆ Citadel boss Ken Griffin thinks SVB's rescue package shows US capitalism 'breaking down before our eyes'
▼ + stars: | 2023-03-14 | by ( Zinya Salfiti | ) www.businessinsider.com time to read: +3 min

Citadel boss Ken Griffin has said US capitalism is "breaking down before our eyes." "It would have been a great lesson in moral hazard" if US regulators didn't bail SVB clients out, according to him. "There's been a loss of financial discipline with the government bailing out depositors in full," he said. "The US is supposed to be a capitalist economy, and that's breaking down before our eyes," he told the Financial Times on Monday. "It would have been a great lesson in moral hazard" if regulators didn't decide to relieve the banks' clients, according to him.

☆ Main Street investors pressure SEC, confront Wall Street on stock plan
▼ + stars: | 2023-03-10 | by ( John Mccrank | ) www.reuters.com time to read: +4 min

NEW YORK, March 10 (Reuters) - Main Street investors are facing off against Wall Street in an attempt to sway the U.S. Securities and Exchange Commission in its proposed revamp of stock trading. The collective voice of individual investors has grown as their numbers surged, a lasting legacy from the so-called "meme stock" saga of early 2021. "A lot of folks are angry," said Dave Lauer, cofounder of We The Investors, a retail investor-focused advocacy group. Individual investors jumped into stock trading after big retail brokers eliminated commissions in late 2019. With weeks to go until the March 31 deadline for comment letters on the SEC proposals, Lauer said he was just starting his organization's comment letter campaign.

☆ Ken Griffin's Citadel is negotiating a company-wide ChatGPT license - and expects the buzzy AI tool to boost several parts of its business
▼ + stars: | 2023-03-08 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

Citadel boss Ken Griffin said his companies are in talks to secure a business-wide ChatGPT license, per Bloomberg. "This branch of technology has real impact on our business," he said, adding it would help with tasks like coding. Citadel has had success with a science-friendly approach before, reaping in huge gains after it hired a team of scientists last year. "This branch of technology has real impact on our business," Griffin said. According to Griffin, ChatGPT would undertake a huge amount of responsibility at Citadel.

☆ Ken Griffin just keeps winning
▼ + stars: | 2023-03-08 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

No, 4.1 billion represents the number of dollars Ken Griffin made from his hedge fund, Citadel, in 2022 alone. Griffin made more money in one hour than the average American makes in their lifetime! Oh, and one more thing: That's not even all the money Griffin earned in 2022! I've said before you could make the case for Griffin being the most powerful person on Wall Street. And check out this fascinating profile from Insider's Dakin Campbell on Ken Griffin.

☆ Citadel's Griffin says the Fed needs more consistency to tame inflation
▼ + stars: | 2023-03-07 | by ( Carolina Mandl | ) www.reuters.com time to read: +1 min

NEW YORK, March 7 (Reuters) - Billionaire investor Ken Griffin, the founder of Citadel and Citadel Securities, said on Tuesday the Federal Reserve needs more consistency of communication in order to tame inflation and that the setup for a recession is unfolding. "If I could tell one thing to the (Fed) chairman, I would tell him to say less. I would just write a message: we're going to put the inflation genie back in the bottle," Griffin said in a televised interview with Bloomberg. Earlier on Tuesday, Fed chair Jerome Powell said the Fed will likely need to raise interest rates more than expected to control inflation. He believes the Fed will increase interest rates to around 5.5% to tame inflation.

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