Perella Weinberg Hires Veteran Greenhill Dealmaker David Wyles
Wyles is set to join Perella as a London-based partner after a period of gardening leave, a spokesperson for the bank confirmed in response to Bloomberg News queries. He previously helped run Greenhill's business in Europe, the Middle East and Africa.
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Entrepreneur
4 minutes ago
- Entrepreneur
The Hidden Problems That Could Threaten Crypto's Future
Opinions expressed by Entrepreneur contributors are their own. With an estimated 5% of the global population owning some form of crypto, there have been great strides in educating the wider market. Indeed, seeing the growth in institutional investment around crypto is a positive sign. With 86% of institutional investors either planning or already having exposure to digital assets this year, it's easy to think it's all plain sailing from here. But beneath the surface, problems still persist. For institutional investors, clearing and settlement remains a fragmented, risky, opaque process. If left unaddressed, the market could expose itself to significant risk in the future. While it's easy to focus on increased trading, we need to ensure the back-end of the investment is robust enough to address this demand. Related: 5 Things to Know Before You Invest in Cryptocurrency Easiest is not always the best For traditional investors looking to get involved in crypto, an ETP will likely be a popular choice. It's familiar, understandable, and — on the surface — seems safe. Indeed, with institutional adoption rates reaching up to 57%, many investors will likely be using an ETP in their trades. However, just because this product is familiar does not mean it is without fault. Due to its conventional infrastructure, an ETP introduces an additional layer to the trade that requires attention. Regardless of how the issuer operates, the net results of their trades still need to be logged on the blockchain. At the very least, this creates added friction in the trade. At most, it risks making investments lack the transparency that underpins blockchain. The risks of fragmentation When investors trade crypto with an ETP, they trade in the shadows. The transaction is logged on a private ledger, not the public blockchain. The issuer's actual bitcoin holdings may be transparent on the blockchain at the fund level, but individual trades won't be. Creating this layer of uncertainty puts ETPs at odds with the transparency of the blockchain. In doing so, it starts fragmenting the system — simply because the clearing process has become vague. While crypto ETPs may try to reassure investors, they can increase risk. As crypto enters into more traditional markets, we will likely see more of these issues arise. While the blockchain may be transparent and immutable, the institutions it is integrating with may not be. But it's more than trust that's at stake. A lack of robust clearing and settlement processes slows down trades and ultimately makes them more expensive. Related: Building Trust In the Cryptocurrency Market: Solution To the High-Risk Problem For Newcomers Meeting in the middle Despite the challenges it presents, it does not mean we need to move away from crypto ETPs. Instead, it's about reconciling these issues or preventing them altogether. To enable this, we need to establish a decentralized clearing layer for institutional investors. Achieving this requires utilizing two key components: state channels and decentralized protocols. A state channel would act as a private tab to an existing blockchain. This would allow ETPs to be traded back and forth with transparency. However, unlike logging each trade on the blockchain itself, a state channel would be faster and cheaper for those involved. Using state channels, ETP issuers could have increased trust in the underlying infrastructure of their trade. Issuers can negotiate trades quickly while still providing the transparency of a publicly traded trade. As a result, operational costs can be reduced, and trust increases. However, establishing state channels in institutional trades is not enough. There also needs to be an objective, robust and fair process to ensure these trades are accurate. Decentralized protocols would remove any single ownership of these trades, creating guidelines and rules that are monitored objectively. In doing so, the clearing process would not be subject to manipulation or error while also being equitable to all users. By creating these decentralized clearing networks, we create a better environment for institutional investing in crypto. Liquidity can be better linked, frictions can be reduced, and investors can feel safe in their deals. Related: Understanding the Investment Landscape in the Crypto Market Looking under the hood Maturity in any market requires several components to come together. One of those is naturally increased investment and interest from existing institutions. However, when it comes to crypto, that uptick in institutional capital comes with an integration problem. To establish long-term maturity in the crypto market, we need to establish the right underlying processes. Clearing and settlement is a core part of that, and currently, it is a flawed and expensive element of the trade. Fortunately, we are still in the early stages of institutional engagement. There is still time to establish the best practices that would create a robust foundation for crypto's relationship with institutional investment. At this point, the traditional finance world and the crypto market must align on this issue. In doing so, they not only build a safer market but also allow crypto to become a more valued sector within the wider financial market.
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Travel + Leisure
4 minutes ago
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This Airline for Dogs (and Their Humans) Is Expanding Flights Across the U.S. and Europe
A "dog-first" airline is soaring to new heights, expanding its routes as it celebrates carrying over 1,000 dogs (and their owners) more than a year after it launched. Bark Air first got its start in May 2024 with service from the New York area to Los Angeles and London. Since then, the carrier has expanded to Paris, Lisbon, Madrid, Seattle, Florida, and San Francisco as well as started offering the ability to book private or shared charters with other dog owners looking to travel to a new destination in style. 'When we launched Bark Air last year, our goal was to challenge the norms of dog travel by creating an experience that treats dogs not as cargo, but as VIP guests,' Matt Meeker, the co-founder and chief executive officer at Bark, said in a statement. 'One year later, we're proud to have delivered on that promise, offering thousands of dogs and their humans a stress-free, joy-filled way to explore the world together. This milestone is a testament to our unwavering belief that dogs deserve better—and our commitment to building a dog-first future doesn't stop here. We're just getting started.' Bark Air operates a fleet of primarily Gulfstream G4 and G5 aircraft complete with comfortable seating, amenities like calming aids and treats, and plenty of space for dogs to roam. Dogs are served "their beverage of choice" during ascent and descent "to prevent ear discomfort commonly caused by change in cabin pressure," according to the company. And as a bonus, there may be a few "special surprises" along the way. While the carrier provides perks and convenience, it can be pricey. One-way tickets for one dog and one human average $8,900 on routes from New York to London, for example. Flights also operate at staggered schedules, generally flying every two weeks. The airline is dedicated to dogs, but said other beloved pets like cats or birds may be welcome to board. However, non-dog companions must remain in a carrier at all times for their safety. The airline also requires dogs to be leashed during the walk from the terminal to the aircraft, and during taxi, takeoff, landing, or if turbulence is expected—similar to humans wearing seat belts. But once the aircraft is at a cruising altitude, owners have the option of removing the leash. The airline is owned by the company Bark, which also sells BarkBox toy and treat subscription packages for dogs.
CNET
4 minutes ago
- CNET
Tired of Price Hikes? Here's How to Cancel Your Spotify Subscription
Spotify is raising its prices again. For now the price hikes are only affecting South Asia, the Middle East, Africa, Europe, Latin America and the Asia-Pacific region, but the $1 increase may eventually come to the US. At this point, Spotify is more expensive than Apple Music, and users are eyeing the exit. Thankfully, canceling your Spotify Premium account isn't difficult. At the current rate, an individual plan is $12, a 2-person plan will run you $17 and a family plan is $20. Students can snag a great deal at just $6 each month. However, those prices are likely to change, and in 2024 US listeners saw the last price hike. If you're feeling frustrated with the premium price increase and are looking to move on from Spotify, here's how you can cancel your subscription. How to cancel your paid Spotify subscription First, you can't cancel your Spotify subscription through any of the service's applications on iOS, Android, MacOS or Windows. Instead, you'll need to access your Spotify account through a web browser on your smartphone, tablet or computer. Here's how: 1. Go to and log in to your account. 2. In Account Overview, scroll down to Your plan and hit Change plan. 3. Next, scroll down to Available plans and hit Cancel Premium. 4. Finally, hit Yes, cancel to finish the cancellation process. This won't delete your Spotify account but will cancel your paid subscription and knock you down to the free tier, which still allows music streaming with advertisements. You'll also keep all of your playlists and saved music. If your next billing date is still a few days or weeks away, you'll continue to have access to your premium account until that time. Nelson Aguilar/CNET If for some reason you don't see an option to change your plan, that could mean you're getting your subscription as part of a package from another company, like a mobile or internet provider or Apple. If this is your situation, you'll want to reach out to a third party to cancel your paid subscription. If you have an iPhone, for example, go to Settings, then tap your name at the top, then Subscriptions to see which services you pay for via Apple. Alternatively, you can fill out this form and either send it via email or physical mail to cancel your Spotify subscription. If you're part of a family plan but not the manager of the plan, you can leave the plan but not cancel the subscription. Only the owner of the plan can do that. Now that you've canceled your Spotify subscription, where should you go? Check out the best music streaming services of 2025, according to CNET.
