News Highlights: Top Financial Services News of the Day

12/19/17 07:15 AM EST
Which Digital Currency Will be the Next Bitcoin? 

Investors in cryptocurrencies are hoping lightning strikes twice, as the outsize recent gains in bitcoin are encouraging migration to several digital relatives. Litecoin is especially benefiting from bitcoin's surging popularity.

The Flawed Bull Case for Bitcoin 

Even after taking full account of its technological advantages, the argument for bitcoin to keep rallying still falls apart.

Cryptocurrency Exchange Collapses, Files for Bankruptcy After Second Hack 

A cryptocurrency exchange in South Korea collapsed after it suffered a second cyberattack in eight months and lost a large amount of its digital-currency reserves.

Fintech Startups Seek to Shake Up Money Transfer Industry 

Fintech startups including WorldRemit, TransferWise and Remitly are pulling ahead of the pack of dozens of companies trying to disrupt the remittance industry, using the latest technology to send money internationally.

Bitcoin Futures Prices Fall in CME Debut 

CME Group's new bitcoin futures fell on their first day of trading, as the Chicago-based exchange giant pushed forward into the rapidly expanding market for cryptocurrency derivatives.

Wells Fargo Names Mack Consumer Lending Head 

Wells Fargo & Co. said Monday that Mary Mack will lead its consumer lending unit in addition to her current role overseeing the retail bank.

Activist Investors' Role Needs More Transparency, SEC Nominee Says 

Robert Jackson, a Democratic nominee to join the Securities and Exchange Commission, called for the Wall Street regulator to wade more aggressively into the fights between activist shareholders and the companies they target.

Activist Starboard Value Buys 9.9% Stake in 

Activist investor Starboard Value LP bought a 9.9% stake in Inc. on the belief the stock is undervalued by a market that is betting heavily against it and ignoring the potential for a sale.

Investors Shell Out $700 Million for Coins With 'No Purpose' 

One of the hottest cryptocurrency investments of 2017 comes from a software startup that doesn't plan to sell any software and describes what it is selling-something called a digital token-as having "no purpose."

Tax Bill Jolts Municipal-Bond Market 

December is typically the sleepiest month in an already sedate municipal-bond world. But this year the prospect of a new tax bill roused the market to records.


(END) Dow Jones Newswires

December 19, 2017 07:15 ET (12:15 GMT)

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