Morgan Stanley is definitively opening up to the cryptocurrency sector, encouraging its clients to consider them as a broader investment option.

“In a new report from its Global Investment Committee, the banknotes that cryptocurrencies can have a place in modern portfolios, provided this is done in a controlled and limited manner. Advisors can guide clients on opportunities, but also on market volatility.”

Depending on each investor’s risk profile, the firm “recommends holding between 2 and 4 percent in digital assets. For conservative investors, the recommendation remains at zero.”

The principle applies to more than 16,000 financial advisors, who collectively manage more than $2 trillion in client wealth. In this regard, the report notes that “digital assets like Bitcoin can provide long-term value, but only within a balanced portfolio with periodic rebalancing.”

Morgan Stanley compares Bitcoin, the market’s leading cryptocurrency, to digital gold; it considers it a scarce digital asset that cannot be simply printed, used by investors as a hedge against inflation and currency risks.

The bank is likely to announce the launch of cryptocurrency trading through E*Trade in 2026, in collaboration with the infrastructure company Zerohash. “Clients will be able to buy and sell Bitcoin, Ether, and Solana. The plan is part of a broader trend in which large banks offer crypto products through trusted platforms.”

M.Pino

Source: 99bitcoins.com

(Reference image source: Sven Piper on Unsplash)

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La entrada Morgan Stanley includes cryptocurrencies in investment portfolios apareció primero en Bitfinance.

WhatsApp replicated the improved multi-device mode in its version for companies, WhatsApp Business, in such a way that firms can enable up to four employees to connect to the same account in the messaging application.

Meta announced last week that it was already possible to link a WhatsApp account on up to four different smartphones (one main and three additional), which will make it easier for the user to switch devices without having to close the main session, and resume chat messages from where they were saved on the previous device used.

This novelty for Meta’s general messaging service is also replicated in the WhatsApp Business application, as the company itself has confirmed on Twitter. In this case, companies can allow up to four employees to connect to the same account, directly from their smartphones, thus being able to “better serve their customers.”

This novelty expands the options of the multi-device mode that the company launched with early access in July of last year to use the same account on up to four different computers, of which only one could be a mobile device, and without the need to have a smartphone connected to the Internet when using it.

Source: dpa

(Reference image source: Dima Solomin, Unsplash)

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La entrada WhatsApp Business can also be linked on 4 devices apareció primero en Bitfinance.

The US investment bank Morgan Stanley plans to eliminate approximately 3,000 jobs by the end of June, according to the US network CNBC, citing a source with knowledge of the entity’s plans.

The adjustment would equate to about 5 % of the bank’s workforce excluding financial advisors and support staff, who will be spared the cuts, and would come on top of the 2 % headcount reduction announced last month. December by the entity.

In this sense, according to Bloomberg, the layoffs are expected to affect the banking and commercial staff of Morgan Stanley to a greater extent.

After the historic boom in the markets during the pandemic, the rate hikes undertaken by the Federal Reserve to stop the overheating of the economy have caused an abrupt collapse in the activity of mergers and acquisitions and in IPOs.

In this way, numerous firms on Wall Street, including banks such as Goldman Sachs, Bank of America, Citigroup or Lazard, have been pushed to reduce costs through workforce adjustments with a view to positioning themselves for a future upturn in activity.

Morgan Stanley closed the first quarter of 2023 with a net attributable profit of $2.98 billion, which is equivalent to a decrease of 18.7 % compared to the earnings of the same period last year, while quarterly revenue suffered a drop of 1.9 %, up to 14,517 million dollars.

K. Tovar

Source: CNN

(Reference image source: Sven Piper, Unsplash)

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La entrada Morgan Stanley plans to cut 3,000 jobs apareció primero en Bitfinance.

The CEO of Tesla and SpaceX, Elon Musk, is willing to request financing to raise millions of dollars with the aim of totally taking over the social network Twitter, according to the New York Post.

In addition, the businessman and billionaire does not rule out investing between 10,000 and 15,000 million dollars in cash to buy the aforementioned social platform. The amount is well above the recent 9.1 % stake in the company he bought this month for about $3.4 billion.

Presumably, the tycoon will seek to formalize the offer in 10 days, that is, possibly before the end of next week.

Multinationals offer financing

The most important external financing would be through the multinational Morgan Stanley, to raise another 10,000 million dollars in debt against Twitter in the manner of a traditional leveraged buyout, the sources cited in this report assured.

However, the company’s board of directors applied the so-called “poison pill” to prevent the acquisition. Therefore, the businessman commented that he has other alternatives to carry out the operation.

The co-investors would collectively hold more capital than Musk, but he would be the largest individual holder.

Twitter baja en bolsa de Wall Street a pesar del interés de Elon Musk por comprarlohttps://t.co/fdZ9hJqiF2 pic.twitter.com/DXtL34KLV9

— SinEmbargo (@SinEmbargoMX) April 20, 2022

Source: doblellave.com

La entrada Elon Musk will seek funding to take over Twitter apareció primero en Bitfinance.

Morgan Stanley created a new research division that aims to investigate the development of crypto assets and for this it appointed Sheena Shah as the main cryptocurrency analyst.  Shah comes from playing a crucial role as Morgan Stanley’s “chief currency strategist covering G10 currencies for over eight years and contributed to the bank’s cryptocurrency-related research efforts.”

As part of her new responsibilities, Sheena Shah will focus on studying “the impact of cryptocurrencies on stocks and fixed-income investments, such as treasury and corporate bonds.”

The decision was disseminated through an internal statement to the staff of the financial institution, in which the bank’s board of directors stressed that the formation and launch of a group of people dedicated to cryptocurrency research is due to the increase and importance that has been obtaining this type of digital assets in the world market.

Morgan Stanley, for about a year, has been breaking into the digital asset market, increasing its direct manifestation to Bitcoin through different “Grayscale Investments investment funds”. According to unofficial information, the financial institution “allegedly introduced an investment tool in Bitcoin for millionaire clients.”

The information on the formation of this research group is provided at a time when the traditional financial system is creating and applying strategies that allow it to adapt to the new cryptocurrency market, which is growing surprisingly, “going from about 350,000 million from dollars a year ago to 2.1 trillion today.”

The largest banks in the US are creating a unit within their organizational structure for digital assets. In July the Bank of America instituted a cryptocurrency research division. Previously, State Street had announced its division on digital finance and the big Wall Street banks, JPMorgan and Goldman Sachs Group, also implemented cryptocurrency trading services in 2021.

M. Rodríguez

Source: cointelegraph

La entrada Morgan Stanley launches cryptocurrency research team apareció primero en Bitfinance.

In the midst of a growing institutional demand, cryptocurrencies have been the boom in the financial market on a global scale, where until now their value has doubled to exceed 2 trillion dollars.

Among the 6,600 coins tracked by CoinGecko, the popular bitcoin coin is the one that has generated the greatest impact, in addition to others that cover the market such as ethereum, binance coin, polkadot, tether and cardano, which present a combined value around the 422,000 million.

In a world where interests manage a value close to zero, institutional investors take cryptocurrencies as an alternative to increase cash yields. For this reason digital currencies have become the most valued sector.

Indeed, large North American companies have opted for crypto as a stable financial market for the future.

Tesla (NASDAQ: TSLA) recently invested $ 1 billion of its reserves in bitcoin and began accepting it as payment for cars. Morgan Stanley (NYSE: MS) is allowing some of its wealthiest clients to add the token to their portfolios, while companies from Mastercard (NYSE: MA) to PayPal (NASDAQ: PYPL) have taken steps to adopt bitcoin.

K. Villarroel

Source: investing

La entrada The crypto market already exceeds $ 2 trillion apareció primero en Bitfinance.

The US financial multinational, Morgan Stanley, becomes the first US lender to offer its client portfolio the option of accessing bitcoin funds, as the CNBC announced on Wednesday.

The decision was made after clients asked the bank for exposure to cryptocurrencies, and although Morgan Stanley did not react immediately to the demand, according to what was discussed with financial investors, access to three funds will be launched that will allow accessibility to the ownership of bitcoin.

So far it is known that the only clients who will have access to the property will be those with $ 2 million in assets under the bank’s custody, as well as investment companies in the entity with at least $ 5 million. In both cases, the minimum seniority of six years will be mandatory.

The funds to be offered are from Galaxy Digital, a crypto firm founded by Michael Novogratz, a joint effort of asset manager FS Investments and bitcoin company Nydig.

According to the report released, clients could start investing in these funds the next month.

K.Villarroel

Source: larepublica

La entrada Morgan Stanley, the first bank to offer access to bitcoin apareció primero en Bitfinance.

The largest cryptocurrency in the world, bitcoin, reached a historical maximum of more than 4 %, reaching $ 54,000, a figure that places the currency over 5 % of its historical maximum marked on February 21, about $ 57,355.

Since the first of January this year, bitcoin has gained 86 % and increased institutional participation in cryptocurrencies.

On Monday, NYDIG, a bitcoin-related financial services provider, announced the raising of $ 200 million from investors, including major investment houses such as Stone Ridge Holdings Group, Morgan Stanley, New York Life, MassMutual and Soros.

For his part, Fund Management Edward Moya, senior market analyst at Oanda, says: “The optimism of bitcoin and ethereum is back as more money bets continue to flow towards cryptocurrencies. Institutional interest still seems strong.”

As well as bitcoin, ethereum assumes a similar behavior. It gained 6 % this Tuesday and stands at $ 1,830, 6.5 % from its historical maximum marked last February,  which means 147 % so far this year.

K. Villarroel

Source: eleconomista

La entrada Bitcoin is 4% higher than its all-time high apareció primero en Bitfinance.