Celsius Owes Users More Than $4.7 Billion

Celsius Network LLC has a roughly $1.2 billion hole in its balance sheet, with the majority of its liabilities owed to the cryptocurrency lender's users, according to a Thursday filing by Chief Executive Alex Mashinsky. 


 
JPMorgan Chase Sees Economic Turmoil Brewing, but Few Signs of Recession So Far

Second-quarter profit at JPMorgan fell 28% even as the nation's largest bank said it is seeing few signs a recession is imminent, underscoring the uncertainty looming over markets and the economy. 


 
Morgan Stanley Profit Falls 29%

The investment bank's second-quarter profit fell short of expectations, reflecting a drop in corporate deal making. 


 
Fed Official Says 0.75-Point Rate Rise Seems Most Likely in July

Fed governor Christopher Waller says the central bank needs to raise rates high enough to slow the economy. 


 
Bank of America Fined $225 Million for Mishandling Unemployment Benefits

Federal regulators said the bank also must compensate people whose access to funds during the pandemic was denied or delayed. 


 
NFT Marketplace OpenSea to Lay Off 20% of Employees

The crash in cryptocurrency prices continues to wreak havoc on digital-asset firms. 


 
Euro Slips Below Dollar as Europe's Economic Fortunes Slump

The euro selloff has intensified as investors gird for a Russian gas cutoff that many fear will drive the region into a recession. But unlike the last time the common currency was this weak 20 years ago, nobody is coming to its rescue. 


 
Stripe Cuts Its Valuation by 28%

The payments giant was last valued by private investors at $95 billion, making it one of the most valuable U.S. startups. 


 
Single-Stock ETFs to Allow U.S. Investors to Make Big Bets on Popular Stocks

AXS Investments plans to launch a set of exchange-traded funds tied to shares of specific companies, such as Nike or Pfizer, that are designed to amplify their daily performance or the inverse of that performance. 


 
As Volatility Roils Bonds and Currencies, Stocks Appear Stable

The bond and foreign-exchange markets are undergoing their sharpest bouts of volatility since the onset of the Covid-19 pandemic. The stock market might have some catching up to do.


(END) Dow Jones Newswires

07-15-22 0015ET