Former Citigroup Executives to Offer Bitcoin Depositary Receipts
According to a Bloomberg report released on January 4, former Citigroup executives would sell Bitcoin-backed securities. They claim that these securities do not require permission from US regulators. The issuer will launch a “Receipts Depositary Corporation, or RDC,” due to the blatant action. Bitcoin Depositary Receipts, which work similarly to American Depositary Receipts representing international […]
Citigroup Employees Brace for Layoffs Amid Restructuring
Citigroup is undergoing a major restructuring plan led by CEO Jane Fraser, who aims to simplify the bank’s structure and cut down management layers. Employees are expecting announcements regarding potential layoffs and management changes next week. Citigroup, the third-largest U.S. lender, is undergoing a major restructuring plan led by CEO Jane Fraser, who aims to […]