Latest news with #Financial
Axios
5 hours ago
- Business
- Axios
SEC chair preparing a new ICOs and airdrops era
Initial coin offerings are poised to make a big return, as new SEC chair Paul Atkins declared Thursday that the agency is all in on President Trump's push to make America the "crypto capital of the world." Why it matters: The country's top financial markets regulator is moving fast to enact the policy recommendations made Wednesday by the White House's working group on crypto assets. Driving the news: "Capital formation is at the heart of the SEC's mission, yet for too long the SEC ignored market demands for choice and disincentivized crypto-based capital raising," Atkins said in a speech Thursday before the America First Policy Institute. "I have asked staff to propose purpose-fit disclosures, exemptions, and safe harbors, including for so-called 'initial coin offerings,' 'airdrops,' and network rewards." The phrase "initial coin offerings," also known as ICOs, is likely to set off alarms for some longtime market watchers. Flashback: The ICO era of 2017 was a somewhat out-of-control time when many, many fly-by-night projects raised money off anyone and everyone with very little plan to get them done, or the know-how to do it. A few projects came out of that era that remain, such as the decentralized storage platform Filecoin; the blockchain Tezos, and the popular browser Brave. But there were hundreds of projects that went nowhere, leaving too-eager investors coming up short. It's still a controversial period in crypto history, one many blockchain leaders look back on with regret. Between the lines: Atkins makes it clear in his speech that, while the SEC's an independent regulator, he stands firmly behind Wednesday's White House report, "Strengthening America's Leadership in Digital Financial Technology." His direction to agency staff on rules to guide ICOs are one small part of what he called "Project Crypto," which he described as the agency's "north star" in aiding Trump's crypto push. Reality check: ICOs never really disappeared though. Some companies, like the project now known as Hiro Systems, went through an arduous and expensive legal process to fully register their raise. And, just recently, meme coin juggernaut raised $600 million for its PUMP token via a multi-platform ICO that sold out in minutes. The crypto industry has also been reading the shifting signals on policy. Coinbase, for instance, recently acquired Liquifi, which looked like a move that anticipated more openness to this sort of fundraising. What they're saying: "Most of the resistance to ICOs has been more the psychological stigma associated with it," Mason Borda, CEO of Tokensoft, which helps crypto projects raise money prudently, tells Axios. "It will certainly open up these offerings to a broader entrepreneurial base." "A blockchain system has every aspect of its economic flows available for inspection in real time on chain, making them potentially more efficient than public markets are today," Tom Howard, head of financial products at CoinList, which also facilitates blockchain-based fundraising, tells Axios. "We expect that updating securities rules to reflect the technology available today will greatly improve capital formation and productivity within the U.S." What we're watching: What kind of rules and limitations SEC staff might propose. We could imagine seeing, for example, a lighter registration process for fundraising for digital assets that will not ultimately be securities (no profit-sharing and no governance rights, for example). We could also imagine a different tier of accredited investor, specifically to certain kinds of digital asset markets.
Web Release
4 days ago
- Business
- Web Release
Arthur D. Little Appoints Goetz Kuras as Partner in Financial Services Practice
Arthur D. Little (ADL) announces the appointment of Dr. Goetz Kuras as a Partner in its Financial Services (FS) practice. Focused on the insurance , pensions, and social security sectors, Goetz brings over twenty years of, senior executive, regulatory, and consultancy experience to the firm. He will be based in ADL's Riyadh office, and will support clients in the Middle East and at a global level. Goetz joins from being a senior advisor to HE the Governor of the General Organization of Social Insurance (GOSI) in KSA, focussing on GOSI's ongoing strategic and operational transformation and supporting the Board and CEO of the newly established Insurance Authority in defining the new National Insurance Strategy. Previous roles include executive experience as CEO of insurer Medgulf and a director role on the Board of an InsurTech company. On the consultancy side, he has worked at McKinsey and at Oliver Wyman, where he was Head of Insurance CEE and later MENA. He is focused on delivering transformation, strategy and innovation for industry and government clients across the insurance, pensions and social ecosystem. Martin Rauchenwald, Managing Partner at ADL, comments, 'Driven by digitalization, AI and innovation, the Middle Eastern insurance sector is evolving rapidly to become a more fluid, open ecosystem. In parallel, institutional reforms of the pensions and social secuity system are actively discussed amongs policy makers. Through his deep experience and understanding, Goetz is perfectly positioned to help clients harness transformation and seize opportunities in this changing environment.' Goetz Kuras, Partner at ADL, adds, 'The boundaries between insurance and other sectors are disolving. What has been a value chain is becoming a value stack with new business models emerging that combine value chain components across industries, requiring new approaches from market players, new entrants and regulators alike. Working with ADL's expanding financial services practice and my colleagues in other industries, where insurance is complementary and enhancing existing value propositions, I look forward to helping grow our client base and impact in these crucial sectors that are vital for prospering societies and economies.' Goetz holds a PhD in theoretical physics from the University of Cambridge (UK) , and Master's degrees from Florida State University (US) and the University of Graz (Austria).
Mid East Info
4 days ago
- Business
- Mid East Info
Arthur D. Little Appoints Goetz Kuras as Partner in Financial Services Practice - Middle East Business News and Information
Arthur D. Little (ADL) announces the appointment of Dr. Goetz Kuras as a Partner in its Financial Services (FS) practice. Focused on the insurance , pensions, and social security sectors, Goetz brings over twenty years of, senior executive, regulatory, and consultancy experience to the firm. He will be based in ADL's Riyadh office, and will support clients in the Middle East and at a global level. Goetz joins from being a senior advisor to HE the Governor of the General Organization of Social Insurance (GOSI) in KSA, focussing on GOSI's ongoing strategic and operational transformation and supporting the Board and CEO of the newly established Insurance Authority in defining the new National Insurance Strategy. Previous roles include executive experience as CEO of insurer Medgulf and a director role on the Board of an InsurTech company. On the consultancy side, he has worked at McKinsey and at Oliver Wyman, where he was Head of Insurance CEE and later MENA. He is focused on delivering transformation, strategy and innovation for industry and government clients across the insurance, pensions and social ecosystem. Martin Rauchenwald, Managing Partner at ADL, comments, 'Driven by digitalization, AI and innovation, the Middle Eastern insurance sector is evolving rapidly to become a more fluid, open ecosystem. In parallel, institutional reforms of the pensions and social secuity system are actively discussed amongs policy makers. Through his deep experience and understanding, Goetz is perfectly positioned to help clients harness transformation and seize opportunities in this changing environment.' Goetz Kuras, Partner at ADL, adds, 'The boundaries between insurance and other sectors are disolving. What has been a value chain is becoming a value stack with new business models emerging that combine value chain components across industries, requiring new approaches from market players, new entrants and regulators alike. Working with ADL's expanding financial services practice and my colleagues in other industries, where insurance is complementary and enhancing existing value propositions, I look forward to helping grow our client base and impact in these crucial sectors that are vital for prospering societies and economies.' Goetz holds a PhD in theoretical physics from the University of Cambridge (UK) , and Master's degrees from Florida State University (US) and the University of Graz (Austria).
Globe and Mail
5 days ago
- Business
- Globe and Mail
Analysts Offer Insights on Financial Companies: Charles Schwab (SCHW), Riot Platforms (RIOT) and US Bancorp (USB)
There's a lot to be optimistic about in the Financial sector as 3 analysts just weighed in on Charles Schwab (SCHW – Research Report), Riot Platforms (RIOT – Research Report) and US Bancorp (USB – Research Report) with bullish sentiments. 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. Charles Schwab (SCHW) In a report released today, William Katz from TD Cowen maintained a Buy rating on Charles Schwab, with a price target of $129.00. The company's shares closed last Thursday at $96.50. According to Katz is a 5-star analyst with an average return of 14.2% and a 68.4% success rate. Katz covers the Financial sector, focusing on stocks such as Apollo Global Management, Bridge Investment Group, and Raymond James Financial. ;'> Charles Schwab has an analyst consensus of Strong Buy, with a price target consensus of $103.64, representing an 8.9% upside. In a report issued on July 10, Barclays also maintained a Buy rating on the stock with a $106.00 price target. Riot Platforms (RIOT) Compass Point analyst Joe Flynn maintained a Buy rating on Riot Platforms today and set a price target of $18.00. The company's shares closed last Thursday at $14.69, close to its 52-week high of $15.87. According to Flynn is a 5-star analyst with an average return of 41.0% and a 68.5% success rate. Flynn covers the Financial sector, focusing on stocks such as Applied Digital Corporation, Marathon Digital Holdings, and Galaxy Digital. ;'> Currently, the analyst consensus on Riot Platforms is a Strong Buy with an average price target of $16.80, a 16.9% upside from current levels. In a report issued on July 21, Piper Sandler also maintained a Buy rating on the stock with a $18.00 price target. US Bancorp (USB) In a report released today, Steven Alexopoulos from TD Cowen maintained a Buy rating on US Bancorp, with a price target of $59.00. The company's shares closed last Thursday at $46.06. According to Alexopoulos is a 3-star analyst with an average return of 1.3% and a 53.9% success rate. Alexopoulos covers the Financial sector, focusing on stocks such as Pinnacle Financial Partners, First Citizens BancShares, and Texas Capital Bancshares. ;'> Currently, the analyst consensus on US Bancorp is a Moderate Buy with an average price target of $53.68, implying a 16.1% upside from current levels. In a report issued on July 13, Bank of America Securities also maintained a Buy rating on the stock with a $54.00 price target.
Globe and Mail
6 days ago
- Business
- Globe and Mail
Truist Financial Keeps Their Hold Rating on First Financial Bancorp (FFBC)
Truist Financial analyst Brian Foran maintained a Hold rating on First Financial Bancorp today. The company's shares closed yesterday at $23.84. 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. Foran covers the Financial sector, focusing on stocks such as Comerica, Huntington Bancshares, and Ally Financial. According to TipRanks, Foran has an average return of 8.6% and a 76.32% success rate on recommended stocks. Currently, the analyst consensus on First Financial Bancorp is a Hold with an average price target of $29.50, which is a 23.74% upside from current levels. In a report released today, KBW also maintained a Hold rating on the stock with a $32.00 price target. FFBC market cap is currently $2.28B and has a P/E ratio of 10.12. Based on the recent corporate insider activity of 68 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FFBC in relation to earlier this year. Most recently, in May 2025, Dawn Morris, a Director at FFBC sold 787.00 shares for a total of $19,006.05.
