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Goldman Sachs has made asset and wealth management a priority since pivoting away from a consumer banking push.
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What we learned in NFL Week 13: Panthers stun, Steelers look out of answers The New York TimesNFL Week 13 winners and losers: Colts losing contender status as crisis hits USA TodayCan the Panthers catch the Bucs? Should the Ravens pay Lamar? We're overreacting to Week 13 ESPNNFL Week 13 news, scores: Aaron Rodgers banged up as Steelers fall to 6-6, once again out of AFC playoff picture Yahoo Sports
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Disruption. It's coming for the U.S. dollar in the form of digital currency. Last week the Biden administration detailed a broad plan for adopting a central bank digital currency (CBDC) in the coming years. The Departments of Energy, Commerce, the Treasury, and other agencies weighed in on how to manage and regulate a CBDC.
The government is reacting in part to the explosive growth of digital currencies. About three out of ten U.S. adults currently invest in some form of cryptocurrency, or "crypto," like Bitcoin or Ethereum. These digital "coins" rely on a decentralized network of computers to verify financial transactions, cutting out third parties like banks or credit cards.
The good, the bad, and the ugly of crypto
Advocates of crypto point to its affordability, efficiency, and its ability to reach consumers with little or no access to traditional banking services. With just a mobile phone or a crypto ATM, consumers can easily send and receive digital currency, even across international borders.
On the other hand, crypto is still largely unregulated and volatile. Investors in Bitcoin, for example, saw returns of over 70% in 2021, but the currency is down almost 60% year to date. And if you send your payment to the wrong account (called a "digital wallet") there may be no way to retrieve it. Crypto has also been used for money laundering, fraud, and to fund terrorism. Several
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