Latest news with #custodians
CBS News
a day ago
- Politics
- CBS News
SEIU Local 1, hundreds of custodians to rally against CPS cuts outside South Loop school
Hundreds of custodians will be rallying against Chicago public schools' recent cuts in the South Loop on Monday morning. SEIU Local 1, the union representing custodians, will be outside Jones Commercial College Prep in the Printers Row neighborhood. The rally comes as thousands of CPS students head back to the classrooms. The union said the recent layoffs have left schools understaffed, which is jeopardizing the cleanliness, health, and safety of the students and staff. Earlier this month, CPS announced that it had cut ties with private custodial contractors to help with its budget gap—leaving 1,200 custodians without work. However, they said they are planning to rehire 750 of those custodians directly as district staffers. The district also laid off about 250 lunchroom workers and 100 crossing guards during the summer.
Crypto Insight
2 days ago
- Business
- Crypto Insight
S&P Dow Jones in talks to bring tokenized indexes to exchanges, DeFi: Exec
S&P Dow Jones Indices (S&P DJI) is in discussions with major exchanges, custodians and DeFi protocols to license and list tokenized versions of its benchmarks, according to Stephanie Rowton, the firm's director of US equities. Rowton told Cointelegraph that the index provider is taking a 'strategic approach' to ensure tokenized S&P products are launched only on platforms that meet high standards for transparency, security and regulatory compliance. 'By establishing these types of relationships, we hope we can work together to participate in a robust infrastructure that supports the trading and accessibility of tokenized versions of our indexes, ultimately enhancing the investor experience,' she said. The push into blockchain comes as institutional interest in tokenized financial products accelerates. S&P DJI entered the space earlier this year by licensing the S&P 500 for a tokenization initiative with Centrifuge, which uses official data to offer programmable index-tracking funds via smart contracts. Rowton said the move has already generated 'an uptick in curiosity and engagement' from both traditional finance (TradFi) and decentralized finance (DeFi) market participants. 'This interest reflects a broader market trend as investors increasingly seek innovative and efficient ways to interact with established financial products,' she added. Bridging TradFi and DeFi Rowton said the blockchain technology has a 'transformative potential' in the financial markets. 'As demand for digital assets grows, tokenization could play a crucial role in bridging the gap between traditional finance and decentralized finance,' Rowton noted. She added that the S&P DJI's tokenization strategy aligns with the firm's mission to meet the needs of 'a new generation of investors who are looking for innovative ways to engage with established benchmarks.' Interest in tokenized index products is strongest among digitally native investors, including crypto and blockchain participants, as well as institutions seeking to diversify portfolios. Regionally, Europe, Asia and LatAm lead the charge. Rowton also revealed that the company is evaluating opportunities to tokenize other flagship benchmarks such as the Dow Jones Industrial Average and thematic indexes. 'We recognize that different investor segments may have varying interests in specific indexes, and we will aim to respond to market demand accordingly,' she said. 2030 vision for tokenized indexes Rowton said tokenized indexes would be 'pivotal' in global markets by 2030, enhancing cross-border market access and liquidity. The technology could lower traditional investment barriers, while enabling new strategies that leverage DeFi features like fractional ownership and automated trading. However, she pushed back on the notion that tokenization threatens S&P DJI's traditional licensing business. Instead, she described it as 'a complementary innovation' that expands commercial opportunities and opens index investing to new audiences without compromising the integrity of the benchmarks. Rowton's comments come as tokenized stocks continue to gain momentum, with market capitalization for blockchain-based financial products hitting $370 million by the end of July. Last week, OpenEden partnered with BNY Mellon to manage and custody the assets behind its tokenized US Treasury product, TBILL, the first Moody's 'A'-rated tokenized Treasury fund to use a global custodian. Source:
Yahoo
08-08-2025
- Business
- Yahoo
Binance teams up with BBVA to let customers keep assets off exchange, FT reports
(Reuters) -Binance is working with Spanish bank BBVA to allow customers to hold their assets off the crypto exchange, Financial Times reported on Friday. The Spanish bank is working as one of only a small number of independent custodians for the world's biggest crypto exchange, the report added, citing two people familiar with the matter. Reuters could not immediately verify the report. BBVA did not immediately respond to a Reuters' request for comment while Binance could not immediately be reached. The move comes as Binance faces heightened regulatory scrutiny worldwide and as crypto exchanges seek to reassure investors about fund safety in the wake of FTX's 2022 collapse. Last February, U.S. authorities fined Binance more than $4.3 billion penalty for violating federal anti-money laundering and sanctions laws through lapses in internal controls at the company, while its founder and chief executive Changpeng Zhao was sentenced to four months in prison.
CBS News
06-08-2025
- Business
- CBS News
Chicago Public Schools cut private custodial contractors amid budget shortfall
The Chicago Public Schools are eliminating more jobs to deal with a massive budget gap. The district said it is cutting ties with private custodial contractors. More than 1,200 custodians got layoff notices on Friday. CPS said it now plans to rehire 750 of those custodians directly as district staffers. CPS said the move could save the district $40 million a year, as the district faces a $734 million budget deficit headed into Fiscal Year 2026. The district laid off about 250 lunchroom workers and 100 crossing guards earlier this summer. The district also laid off 400 teachers this summer. In announcing those layoffs in July, CPS said they were due to "delays in the budgeting process."
CNA
11-07-2025
- Entertainment
- CNA
Singapore Hour
47:00 Min Visit a neighbourhood full of green, black and white surprises. Meet a butcher who's redefining what it means to be a meatsmith, and custodians of Singapore's oldest trees. Finally, hang out at the coolest new spot in town. Singapore Hour About the show: Welcome to Singapore Hour: your all-access pass to the city that never stops surprising. From iconic eats to cutting-edge tech, vibrant culture to hidden local gems – we bring you the best of Singapore through the eyes of those who know it best. Whether you're here to travel, work, or just soak up the vibe, Singapore Hour is your definitive guide to what's hot, what's next and what you absolutely can't miss.
