State Street Corp. has spent more than a year preparing its technology for faster settlement times, joining a slew of financial institutions making adjustments to avoid failed trades that could occur as a result of new regulations that come into effect late May.
Bitcoin sank to a two-week low before paring losses as demand for dedicated US exchange-traded funds dries up and investors question the Federal Reserve’s scope to lower interest rates quickly.
Coinbase Global Inc. Chief Executive Officer Brian Armstrong said the company will need to pump more money into improving its trading infrastructure after users experienced problems buying and selling as the price of Bitcoin began surging at the end of February.
Bitcoin extended a retreat as investors digested a record daily outflow from the world’s biggest exchange-traded fund for the token as well as scaled-back expectations for Federal Reserve interest-rate cuts.
Wall Street is so divided on whether the US stock market’s meteoric rise has gone too far, too fast that even Bank of America Corp.’s own strategists disagree.
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