CNBC Fed Survey: Respondents see a three-way tie in race to replace Fed Chair Powell
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Business Insider
2 hours ago
- Business Insider
Investing Legend Ray Dalio Sells Remaining Stake in His Hedge Fund
Ray Dalio, the billionaire founder of Bridgewater Associates, has officially sold his remaining shares in the hedge fund and stepped down from its board, thereby completing a management transition that began in 2022. According to CNBC, which cited a person familiar with the matter, Bridgewater raised capital from existing investors and employees to facilitate Dalio's final stake sale. While Dalio no longer holds equity, he will remain a significant investor in the firm's strategies and continue serving as a mentor. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Unsurprisingly, Bridgewater's management team praised Dalio's contributions in a July 21 letter to clients by calling him a 'cherished founder' and highlighting his continued role as a longstanding client. Dalio also confirmed the transition in a LinkedIn post, where he wrote that he is 'thrilled' to see Bridgewater thriving without him. Interestingly, Co-CIOs Bob Prince and Greg Jensen now hold significant equity stakes in the company. The move comes after Dalio gradually stepped back from his leadership roles over the course of several years, which began with him relinquishing his CEO title in 2017, followed by his chairmanship in 2021. It is worth noting that Bridgewater was founded in 1975 and is known for its macro trading strategies that are focused on currencies and fixed income that are tied to global economic trends. In addition, the firm has performed strongly in 2025, with its Pure Alpha fund up by 17% and its All Weather fund rising by 8% in the first half of the year.
Yahoo
9 hours ago
- Yahoo
Jamie Dimon just gave a thumbs up to stablecoins—but still won't say anything nice about Bitcoin
The CEO of JPMorgan Chase gave a shout out on Wednesday to stablecoins, one of the buzziest sectors in the crypto. 'I'm a believer in stablecoins, believer in blockchain, not personally, a believer in Bitcoin itself,' Jamie Dimon said in an interview with CNBC. He added that his bank 'will have' a stablecoin, or cryptocurrency pegged to underlying assets like the U.S. dollar. 'There are things that stablecoins maybe can do that your traditional cash can't,' Dimon said, adding later: 'It's what the customer wants. It's not what JPMorgan personally wants.' Dimon has long drawn a distinction between the technology of blockchain, or decentralized ledgers, and Bitcoin, the world's largest cryptocurrency. His Wednesday comments with CNBC are in line with his prior thinking, but his disavowal of Bitcoin was softer than his previous takedowns. In 2017, he said that he would fire JPMorgan Chase employees who were trading Bitcoin because it was evidence that they were 'stupid.' In 2023, he said Bitcoin was 'hyped-up fraud,' compared the token to a 'pet rock,' and said that cryptocurrencies are a 'waste of time.' Still, he conceded that blockchains were useful. 'Blockchain is a technology ledger system that we use to move information. We've used it to do overnight repo, intraday repo, we've used it to move money, right? So that's a technology ledger that we think will be deployable,' he said. Dimon heads the largest bank in the U.S and his comments on stablecoins add further legitimacy to the fast-growing crypto industry, especially after the landmark passage of GENIUS Act in Congress, a bill that regulates stablecoins. JPMorgan Chase has long had its own blockchain division. The team, originally called Onyx, has rebranded to Kinexys and has started to expand beyond the bank's 'walled garden,' an industry term for blockchains that are private. In May, the bank settled its first transaction on a public blockchain. And, in June, Kinexys announced that it was piloting what it called JPMD, a stablecoin-like asset known as a tokenized deposit. The token will represent a dollar of deposits into JPMorgan Chase. This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNBC
11 hours ago
- CNBC
Frothy financing threatens retail investors in crypto treasuries, warns Sol Strategies CEO Leah Wald
CNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry.
