The markets have come back down to Earth after a wild Monday. Some additional details about a potential Pfizer vaccine have also come out, which illustrate how complex a process it will be to widely distribute.

If you’re not yet a subscriber, you can sign up here to get your daily dose of the stories dominating banking, business, and big deals.

We’re also launching a new newsletter — 10 things in Politics You Need to Know Today — later this month. Sign up here. 

Like the newsletter? Hate the newsletter? Feel free to drop me a line at [email protected] or on Twitter @DanDeFrancesco. 

Wall Street’s WhatsApp problem

Messenger apps like WhatsApp and WeChat have become a massive headache for Wall Street compliance departments. 

Reed Alexander has a great deep dive into why traders are so keen to use these apps in lieu of traditional, compliant forms of communications with clients. 

Click here to read the entire story.

Mortgage giant Fannie Mae just saw another round of top leader exits

Nice story from Rebecca Ungarino and Sean Czarnecki on a two more senior exits out of Fannie Mae. Read more about what it means for the US government-controlled mortgage giant. Click here for the full story.

---

$42 billion Tiger Global has hired a McKinsey recruiter to help it diversify its staff 

Nice scoop from Bradley Saacks on Tiger Global's plans to expand its recruitment of talent. The $42 billion hedge fund is looking to diversify its team beyond the usual firms it pulls talent from. Read more here.

---

After 60 people quit, Coinbase is in the midst of a hiring frenzy

Coinbase's CEO Brian Armstrong turned heads after a memo declaring the startup "apolitical." However, the $8 billion company has had no trouble recruiting talent. Read the latest from Melia Russell and me. Click here for more.

---

A $330 million short-seller alleges Fortune 500 company Avery Dennison is using 'accounting manipulating' to juice returns

Bradley Saacks with another nice piece on a new report out of $330 million short-seller Spruce Point Capital on a company it alleges is using "manipulative accounting." Read the whole story here.