Finance

What to know about the NFT craze — and all the regulatory risks of the red-hot new market

Good morning and welcome to Insider Finance. I’m Dan DeFrancesco, and here’s what’s on the agenda today:

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Speculation and cabin fever are driving the NFT craze. It’s already attracting scammers and grifters who want instant wealth.

rise in interest for NFTs 4x3

Handout via REUTERS; Drew Angerer/Getty Images; Robyn Beck AFP via Getty Images; Lucy Nicholson/Reuters/File Photo; Samantha Lee/Insider

The craze over non-fungible tokens is hotter than ever. But the rise of NFTs has also come with claims of copyright theft and hacking. And most sales don’t come with legal rights.

As a result, lawyers and fund managers say regulatory scrutiny is coming.

Click here to read the entire story.


9 ways Stripe is looking to grow in 2021 as the $95 billion fintech hopes to expand beyond its payments roots

stripe app company

Rafael Henrique/SOPA Images/LightRocket via Getty Images

Stripe is known for its payments business, but the $95 billion startup is rolling out plenty of other offerings. Find out what else they are doing.


What beavers, cow embryos, whiskey, and orange groves have to do with regulating crypto assets—even NFTs

A cow resting on hay. Cattle embryos have been found to be securities in the past.

Even cattle embryos have been found to be securities.
Getty Images

Are NFTs and other crypto assets considered securities?

The answer comes down to a 1946 case about citrus groves, dubbed the “Howey test.” The test has been applied to a wide, weird range of investment schemes from alcohol to animal husbandry. More from our exclusive report.


Wall Street people moves: Promotions, exits, and hires at firms like Credit Suisse, Goldman Sachs, and HSBC

credit suisse

The logo of Swiss banking giant Credit Suisse is seen on October 17, 2017 in Zurich.
FABRICE COFFRINI/AFP/Getty Images)

Eric Varvel is out as head of Credit Suisse’s asset management business. Goldman Sachs poached top equities trader Mitchell Story from Bank of America. Check out all the people moves across Wall Street here.


Inside Greensill’s attempt to avoid collapse through an alleged bait-and-switch and a $850 million loan

AP17216059594924

Jim Justice and Donald Trump.
AP Photo/Susan Walsh

We’ve got all the details behind SoftBank-backed supply chain finance startup Greensill’s collapse after a massive credit squeeze. Get the full rundown here.


Odd lots:

At Long Last, Wall Street Sees Path to Return to the Office (Bloomberg)

Michael Corbat’s Proudest Moment at Citigroup? Passing the Torch to Wall Street’s First Female CEO. (WSJ)

For Wealthy New York Buyers, Small Apartments Aren’t Cutting It Anymore (WSJ)

The Justice Department is reportedly investigating whether Visa’s debit-card business is anticompetitive (Insider)

How the 4 companies behind every single credit card swipe prevent outages and thwart hackers from getting your data (Insider)

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