Wall Street's cloud ambitions brighten

Wall Street's cloud ambitions brighten
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Good morning and welcome to Insider Finance. I'm Dan DeFrancesco, and here's what's on the agenda today:

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Nasdaq and Intel are teaming up on a new type of encryption that could prove key in speeding up adoption of AI and cloud tech on Wall Street

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The new partnership could provide a solution to concerns surrounding the safety and anonymity of customer data when used by AI. The use of homomorphic encryption, or HE, could also open up the possibility of more financial firms being comfortable using the public cloud. Here's how.

The IRS is targeting Kraken and Circle users it thinks are avoiding taxes on crypto trades

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The feds are looking for people who have traded over $20,000 per year - and they think some Kraken and Circle users have been hiding crypto assets. Here's what else you need to know.


A 20-year veteran of Goldman Sachs just joined Stripe to serve as a top risk manager for the $95 billion fintech

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Sujatha Srinivasan, a 20-year Goldman Sachs vet and managing director, is joining Stripe to serve as the $95 billion fintech's enterprise risk management lead. Read more about the hire here.


Odd lots:

These founders left the legal industry to launch their tech startups. They found Silicon Valley even more sexist than Big Law. (Insider) Goldman's Former Head of Digital Asset Markets Joins Startup (Bloomberg)
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Credit Suisse May Let Fund Clients Take Hit on Greensill Losses (Bloomberg)

BlackRock Breaks Wall Street Ranks With Planned Racial Audit (Bloomberg)

Cincinnati investment firm becomes first Ohio-based group to join Rockefeller Capital (Cincinnati Business Courier)
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Moelis Sues Ferrellgas Over $20 Million Advisory Fee Refusal (Bloomberg Law)

This Swedish fintech founder could have been a billionaire right now. Instead, he spent nearly all his equity on philanthropy and impact investing. (Insider)

Inside Tiger Global's Deal Machine (The Information)
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