Financial Chronicle - News week 12

Welcome back to another edition of our financial rollercoaster ride, where numbers dance, and stories unfold! Today, we've got the scoop on gold's meteoric rise and JP Morgan's latest legal tango. Buckle up, it's going to be a wild ride! 🎢

The Financial Times Left in the Dust by Gold's Rally

Ever wonder about the economics IQ at FT? Gold soaring past $2200 has them scratching their heads! But hey, we get it – they've always been anti-gold. Now, they're struggling to save face as gold hits historic highs. Cue the baffled analysts and the silent, confusing surge. Oh, FT, you've done it again!

Link: Read the full article on FT

Personally, I'm scratching my head too. FT conveniently ignoring the hundreds of tons of gold bought up by Central Banks worldwide for the past five years – talk about selective reporting!

JP Morgan: A Tale of Legal Woes (Again!)

Rudy Havenstein, Senior Markets Commentator, drops a bombshell: JP Morgan Chase shelled out a whopping $1.4 billion in legal fees in 2023 – a staggering 426% increase from the previous year! If banking were the food industry, we'd all be six feet under!

This time, Jamie Dimon's bank coughed up $348 million to Wall Street's watchdog for slacking on trader surveillance. But hey, when your traders rake in billions, who's counting, right Jamie?

Link: Read more on Bloomberg for a dose of amusement.

BLACKROCK'S BLOCKCHAIN ADVENTURE: Tokenization on the Rise!

BlackRock, the titan of investment management, is taking a leap into the world of blockchain with the launch of the BlackRock USD Institutional Digital Liquidity Fund! Initialized with a cool $100 million in USDC stablecoin on the Ethereum network, this move marks BlackRock's official foray into tokenization!

Larry Fink's visionary words echo through the halls of finance, predicting a future where tokenized assets revolutionize traditional finance with lightning-fast settlements and enhanced efficiency.

The market's response? Immediate and electrifying, with a notable surge in the native token of the tokenization platform RWA Ondo Finance, ONDO, soaring by 20% post-announcement!

Before I let you go back to conquering your financial empire, tell me: What's on your mind for the next newsletter? Your topic wish is my command! ✨

Stay financially savvy and fabulously adventurous!

Cheers,