CRYPTO
CEO of Binance Steps Down and Pleads Guilty
Another blow for the Crypto-bro’s, CEO of Binance, Changpeng Zhao (aka CZ) was forced to resign and plead guilty to charges in the US for breaking anti-money laundering laws.
The lesson from SBF and CZ? Don’t be known by just your initials…oh, and I guess don’t break laws.
BANKING
Barclays Plans Job Cuts to Cut Costs
In a plan to improve profitability, Barclays plans to cut a reported 2,000 jobs. Saving as much as $1.25 billion. Barclays has not commented on this report.
BANKING
Citigroup Preps for Huge Layoffs
In more job cuts news (if you work in banking you should know this is part of the job description…just saying): Citigroup’s planned restructuring which includes massive layoffs even has a codename: Project Bora Bora (who comes up with this stuff???), which will lead to thousands of job cuts. The restructuring is a result of the banking giant being one of the poor performers in the banking industry.
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