Core Insights - Citi plans to offer crypto custody services in 2026, allowing the bank to hold digital assets like bitcoin and ether for clients, marking a significant move into the digital asset space [1] - The custody solution has been in development for two to three years, with hopes to launch a credible offering for asset managers and other clients in the coming quarters [2] - Citi is pursuing a hybrid approach for custody tools, developing some in-house while exploring partnerships for other solutions, indicating flexibility in their strategy [3] Industry Context - The custody plan aims to provide institutional clients with a regulated method to store crypto, which is seen as essential for traditional investors looking to enter the sector [2] - Citi's custody service would join a growing portfolio of digital asset initiatives, including potential stablecoin issuance and tokenized deposits, reflecting the bank's commitment to innovation in the financial sector [3] - Recent investments, such as Citi Ventures' investment in BVNK, a stablecoin payments startup, highlight the bank's active role in the evolving landscape of digital finance [4]

JUST IN: Wall Street giant Citi bank to launch #Bitcoin and crypto custody services in 2026 — CNBC 🙌 https://t.co/awPWDITXkx ...

Core Insights - Citi is planning to launch a cryptocurrency custody service next year, marking significant progress on a project initiated three years ago [2][3] - The custody service will involve Citi holding native cryptocurrencies and aims to provide a credible solution for asset managers and other clients [2][3] - The service will utilize both in-house developed technology and third-party partnerships, indicating a flexible approach to asset custody [3][4] Industry Context - The custody of crypto assets is becoming a critical area in the institutionalization of digital finance, as highlighted by recent regulatory developments [5] - The SEC has indicated that registered investment advisers and regulated funds can maintain crypto assets with certain state-chartered financial institutions without facing enforcement actions [5][6] - Regulatory clarity is essential for financial institutions, as uncertainty can negatively impact investors and hinder the adoption of crypto custody solutions [6]

Crypto is here to stay—and you can take that to the bank. Citibank, perhaps. Most Read from Fast Company On Monday morning, CNBC reported that Citi is looking to launch crypto custody services next year. Biswarup Chatterjee, the global head of partnerships and innovation in the services business at Citi, told CNBC that the company is “hoping that in the next few quarters, we can come to market with a credible custody solution that we can offer to our asset managers and other clients.” While banks have, ...

Market Overview - The upcoming Q3 earnings season is anticipated to begin with major banks such as JPMorgan, Citigroup, and Wells Fargo reporting results [1] - The market is expected to become increasingly earnings-focused, with Q3 earnings serving as a key indicator of the domestic economy amid the government shutdown [2] Market Reactions - Pre-market futures showed a rebound after a significant sell-off on Friday, with the Dow up +356 points, S&P 500 up +77 points, and Nasdaq up +429 points [4] - The previous Friday saw major indexes decline sharply, with the Dow down -1.9%, S&P 500 down -2.7%, and Nasdaq down -3.5% due to trade war escalations [3] Trade Relations - President Trump's announcement of a potential +100% tariff increase on Chinese imports has raised concerns about the trade relationship between the U.S. and China, particularly regarding rare earth exports [5] - The market reacted negatively to Trump's emotional governing style, indicating potential instability in trade relations and increased costs for American consumers [6] Economic Outlook - The National Association of Business Economics (NABE) has improved its GDP forecast for the U.S., projecting +1.8% growth for 2025, up from +1.3% in the previous report [7] - Tariffs are still viewed as a significant hindrance to economic growth, with a noted decline in job additions aligning with recent employment data [8] Company Performance - Fastenal reported Q3 earnings of 29 cents per share, slightly missing estimates, with revenues of $2.17 billion also falling short of expectations by -0.11% [10] - Following the earnings report, Fastenal's shares declined by -4%, although they have increased by +27% year to date [10]

Citigroup has hired two investment bankers in London to build out its team advising private equity firms and other companies selling assets https://t.co/4SPa2oy28a ...

Core Insights - The earnings season is commencing with major banks reporting, amidst a backdrop of record U.S. indices and a government shutdown [1] - Wall Street analysts have raised earnings estimates for the first time since late 2021, projecting an 8% year-over-year earnings growth for the S&P 500, marking the ninth consecutive quarter of expansion [2] Financial Sector Outlook - Financials are expected to lead this earnings season, with major banks like JPMorgan Chase, Citigroup, and Wells Fargo reporting [3] - M&A activity is showing signs of recovery, with Q3 seeing 111 M&A announcements and global M&A volumes reaching $1.26 trillion, a 40% year-over-year increase [3][4] - The IPO market is also reviving, with 150 IPO announcements in Q3, the best quarter since Q4 2021, indicating a healthier outlook for capital markets [3] Interest Income and Lending - Net Interest Income (NII) is under pressure, with modest growth expected as banks face competition for deposits [4] - Loan growth has been sluggish due to high borrowing costs, but banks are signaling optimism following better-than-expected loan growth in Q2 [5] Credit Quality and Trading - Credit quality remains stable, but any increase in delinquencies will be closely monitored, particularly in commercial real estate and among lower-to-middle income borrowers [6] - Trading is expected to be a strong performer due to market volatility driven by Fed policy changes and geopolitical uncertainty [6] Sector Performance Expectations - The technology sector is projected to outperform, with over 20% earnings growth driven by the AI sector, while consumer staples and discretionary sectors are expected to see declines in earnings [7][11] - AI corporate spending is contributing significantly to U.S. GDP growth, accounting for approximately 40% this year [10] Earnings Season Timeline - The peak of the Q3 earnings season is anticipated between October 27 and November 14, with November 7 expected to be the most active day [12] Market Sentiment - The current earnings season is characterized by a bifurcated market, with optimism in the tech sector contrasted by challenges in other sectors, setting a high bar for companies to meet [13]

Investors with a lot of money to spend have taken a bullish stance on Citigroup (NYSE:C).And retail traders should know.We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with C, it often means somebody knows something is about to happen.So how do we know what these investors just did? Today, Benzinga's options scanner spotted 16 unc ...

Key Takeaways - Volatility is back, but optimism remains- Metals are hot- Earnings Season kicks off TOPSHOT - Traders are concerned as market volatility is on a whipsaw. (Photo by CHARLY TRIBALLEAU / AFP) (Photo by CHARLY TRIBALLEAU/AFP via Getty Images)AFP via Getty ImagesWhat an absolutely wild few days in the markets. On Friday, President Trump triggered a “panic” sell-off when he escalated the ongoing trade discussions with China into talk of a massive increase in tariffs. His mid-morning statement spar ...

1. 10月13日(周一)美股盘前，美股三大股指期货齐涨。截至发稿，道指期货涨0.77%，标普500指数期货涨1.14%，纳指期货涨1.69%。 市场消息 美股迎关键财报周!六大行业绩成市场"试金石"，能否对冲政治僵局阴霾?受贸易战风险加剧、美国联邦政府停摆持续等因素影响，市场情 绪迅速恶化导致美股上周遭遇"黑色星期五"。在即将到来的一周里，由于华盛顿的政治僵局仍在持续，市场将无法获得若干关键经济数据 的更新，包括进口价格、零售销售和初请失业金等数据。美股新一轮财报季将于本周拉开帷幕，打头阵的美国六大银行——摩根大通、高 盛、摩根士丹利、美国银行、花旗以及富国银行——的业绩将成为焦点。市场预计得益于投行业务的强势复苏，加上美国经济的韧性令借 款人保持良好状态并支撑消费者和商业贷款部门，这六大银行的第三季度业绩将表现强劲。 牛市面临考验!期权市场预示美股将迎2022年以来最动荡财报季。美股投资者们再次为即将到来的财报季的股市波动做好了准备。数据显 示，对标普500 指数成分股公司的股票期权走势显示，公司业绩公布后，股价平均预计将波动 4.7%。这一波动幅度与 7 月份的情况较为接 近。当时，预计的股价变动幅度是 ...