What you need to know on Wall Street right now

Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours.

Some of the biggest names in the investing world are backing a hot new hedge fund.

Philippe Laffont, the founder of Coatue Management, Louis Bacon of Moore Capital, and Dan Loeb, founder of Third Point, are planning to invest in Ben Melkman's Light Sky Macro, a New York hedge fund which is set to launch March 1.

Elsewhere in hedge fund news, Carl Icahn just jumped into a $90 billion drug maker, and people are betting it'll be a takeover target. And here's the brutal presentation that an activist investor just published about Buffalo Wild Wings.

Infinite personalization is making us dumber, according to David Siegel, cofounder of $40 billion hedge fund Two Sigma.

On Wall Street, Deutsche Bank is set to announce another shakeup in its senior ranks. Dixit Joshi, who previously led the bank's fixed-income sales force as head of the institutional client group for debt, is expected to move to the role of group treasurer, according to people familiar with the matter.

And in deal news, Snapchat executives in New York were peppered with questions on Tuesday about competition from Facebook, user growth for the disappearing-message app, and accessibility in less developed markets as they pitched prospective investors on the company's shares.

In related news, Snapchat has a problem with Android, and it's causing investors to worry.

Unilever says it's reviewing its options just days after rejecting Kraft Heinz's surprise $143 billion takeover bid. And three banks just landed key roles on what could be the biggest IPO of all time.

In markets news, here's the unstoppable 35-year "golden age" for bonds in one clear Credit Suisse chart. And one key measure shows the stock market hasn't been this expensive in 13 years.

President Donald Trump is considering adding two former employees of controversial mortgage lender OneWest to his administration, according to reports. Here's who would save the most money under Trump's proposed tax overhaul.

And here's how CEOs across America feel about Trump - and what they think he'll do to their businesses.

The Fed won't hike rates in March, but it still wants to keep Wall Street guessing, according to Business Insider's Pedro da Costa.

Lastly, here's a rare look inside the $21 million "Princess" megayacht that has five cabins and a Jacuzzi.

Here are the top Wall Street headlines from the past 24 hour:

The biggest ever corruption scandal you've never heard of - A giant corruption scandal that started with Brazilian construction giant Odebrecht has now engulfed several Latin American governments. The total tally of known bribes totals in the hundreds of millions of dollars.

Existing-home sales jump to a 10-year high - US existing-home sales in January rose more than expected to their highest level in nearly a decade, according to the National Association of Realtors.

CITI EMEA CHIEF: Germany is a 'favourite' for a post-Brexit HQ and 200 jobs could move - Citigroup is considering Frankfurt as a new European base for its markets and trading arm as part of its Brexit plan.

Oil slides on word non-OPEC members aren't cutting production as much as promised - Crude oil prices are lower on Wednesday as traders price in a projected expansion in US crude stockpiles and following comments made by Qatar's oil minister.

Bitcoin is closing in on its all-time high - Buying early on in US trade has run bitcoin up 0.7%, or $7.50, to $1,115 a coin. Wednesday's bid has the cryptocurrency higher for a ninth straight session and threatening its all-time high of about $1,140.

Switzerland's ABB says it uncovered $100 million South Korean fraud - Swiss engineering group ABB said it discovered what it called a "sophisticated criminal scheme" in its South Korean subsidiary on Wednesday, which it expects will result in a $100 million pretax charge.

A JPMorgan economist explains why small and midsized businesses are feeling optimistic - Following the recession, small and midsized businesses in America faced a slow and uncertain recovery.

Mark Cuban calls universal basic income 'one of the worst possible responses' to robot automation - Economists predict that robotic automation and advances in artificial intelligence could lead to widespread job loss in the next few decades, but billionaire investor Mark Cuban doesn't think universal basic income is the solution.

The new Range Rover Velar is gunning for Audi and Porsche - Audi and Porsche, beware - Range Rover is coming for you.