FINANCE

THE TRADE DESK SUFFERS RECORD 40% STOCK PLUNGE AMID CFO EXIT AND AMAZON COMPETITION

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The Trade Desk endured its worst trading day on record Friday, with shares collapsing almost 40% after the ad-tech firm announced a leadership shake-up, issued cautious guidance, and faced renewed scrutiny over competition from Amazon.

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STANDARD CHARTERED SUED FOR $2.7 BILLION OVER ALLEGED ROLE IN 1MDB FRAUD

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Standard Chartered PLC is facing a $2.7 billion lawsuit in Singapore, filed by liquidators of Malaysia's 1MDB fund. The plaintiffs, linked to three companies in liquidation, claim the UK-based bank facilitated over 100 intrabank transfers between 2009 and 2013 that enabled the concealment of stolen public funds. According to Bloomberg and Reuters, the transactions reportedly resulted in financial losses exceeding $2.7 billion, including S$20 million ($15.7 million) in public funds.

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TESLA STOCK SLIDES AFTER PROFIT MISS AND EV COMPETITION MOUNT

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Tesla's second-quarter performance has rattled investor confidence, as the electric carmaker posted another sharp drop in revenue and profits, underscoring growing operational and political pressures. Shares fell 6% in premarket trading Thursday, compounding a year-to-date slide of nearly 18%.

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JPMORGAN MAKES BITCOIN CHANGE, JAMIE DIMON GREENLIGHTS CLIENT ACCESS DESPITE LONGSTANDING CRITICISM

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JPMorgan Chase has reversed course on Bitcoin. The nation's largest bank will now let clients buy the cryptocurrency, marking a significant turn for CEO Jamie Dimon, once its most vocal critic. Dimon made the announcement on May 19, during the bank's annual investor day, saying, "We are going to allow you to buy it. We're not going to custody it. We're going to put it in statements for clients."

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BARCLAY'S FINED £42M BY UK'S FINANCIAL WATCHDOG

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The UK's Financial Conduct Authority (FCA) has fined Barclays Bank £42 million, citing failures in its money laundering risk management processes. The FCA found that Barclays had not adequately vetted two clients, Stunt & Co and WealthTek, leading to the facilitation of "the movement of funds linked to financial crime" and "an increased risk" of money laundering.

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COINBASE MAKES A $2.9 BILLION ACQUISITION OF DERIBIT

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In a landmark move that signals consolidation in the cryptocurrency industry, Coinbase announced Thursday its acquisition of derivatives exchange Deribit for $2.9 billion. The deal represents one of the largest transactions in crypto history and strategically positions Coinbase to expand its footprint in the lucrative options trading market.

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MARKETS SLIDE AFTER TRUMP TARGETS JAPAN WITH 25% TARRIFS

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Financial markets plunged into chaos Monday as President Donald Trump announced sweeping 25% tariffs targeting Japan and South Korea, marking a dramatic escalation in his trade war strategy. The announcement sent shockwaves through Wall Street, with major indices experiencing their steepest declines in months. The Dow Jones Industrial Average slipped 447 points, or 1%. The S&P 500 fell 0.8%, and the Nasdaq Composite lost 0.9%. Trading floors witnessed panic selling as investors processed the implications of Trump's latest trade offensive.

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TRUMP CRYTO RESERVE ANNOUNCEMENT SPURS A LARGE MARKET SURGE

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U.S. President Donald Trump announced the inclusion of five digital assets in a proposed strategic reserve. The selected cryptocurrencies—Bitcoin, Ethereum, XRP, Solana, and Cardano—saw their market values soar within hours of the revelation. Bitcoin alone surged over 11% to $94,164, while Ethereum jumped 13% to $2,516, according to data from CoinGecko. The overall crypto market cap spiked by over $300 billion in response.

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