Good morning and welcome to Insider Finance. I'm Dan DeFrancesco, and here's what's on the agenda today:
- Venmo just launched crypto-trading features on its app.
- Private-equity firms are getting more aggressive outbidding average Americans for single-family homes.
- Find out how much influencers get paid to drive sign-ups to fintechs like Robinhood.
Like the newsletter? Hate the newsletter? Feel free to drop me a line at [email protected] or on Twitter @DanDeFrancesco.
Venmo just added crypto trading as personal finance apps look to cash in on the latest surge into digital currency
Venmo follows in its parent company PayPal's footsteps by rolling out crypto-trading features for Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. See more here.
Tudor Investment CTO Miriam Roiter is retiring after 25 years building technology at the $9 billion hedge fund
Roiter, an alum of NASA, spent more than two decades at the hedge fund and was the first woman to serve as its chief technology office. Learn more about Roiter's retirement here.
Want to buy a home right now? You might have to outbid a $50 billion private equity firm first.
Big companies are outbidding average Americans by offering cash and skipping due diligence. Read more here.
The leader of Citi's new tech and comms investment-banking team explains the strategy of the 'supergroup' aimed at helping clients facing digital disruption
Philip Drury, the new group's head, explains why now is the right time to combine Citi's technology and communications investment-banking teams. Get the full rundown on his plans here.
AQR has lost more than a third of its assets since the end of 2017, but Cliff Asness' firm had a big first quarter
AQR has had a tough go of it since the end 2017, but things are starting to turn around. Get the full rundown on its first quarter.
Fintech The Tifin Group just nabbed $22 million in funding from JPMorgan, Morningstar, and Broadridge as its CEO looks to build a one-stop wealth and asset management tech shop
Tifin wants to be a one-stop shop for advisors in the wealth and asset management space. Vinay Nair, its founder, explains the startup's ambitions.
How much money influencers make driving sign-ups for trading apps like Robinhood and Acorns
Find out what an influencer can expect to get paid for getting their followers to sign up for these trading apps. Read more here.
Odd lots:
Credit Suisse Halts Star Trader's Fund on Risk Concerns (Bloomberg)
Behind the Mysterious Demise of a $1.7 Billion Mutual Fund (WSJ)
Cryptocurrency Giant Binance.US Hires Former Top Bank Regulator (WSJ)
Ex-CFTC Chair Chris Giancarlo Joins BlockFi Board of Directors (Yahoo Finance)
Hedge Fund Giant Warns of SPAC Blowup After Betting $1 Billion (Bloomberg)
Goldman Reveals Black Workforce Numbers for the First Time (Bloomberg)