“If you were to save $5 a week, and you earn maybe 8%. Starting off while you’re at college, you may have $130,000 plus saved by the time of retirement at 65,” SEC Chairman Gary Gensler said.
Gary Gensler, chairman of the U.S. Securities and Exchange Commission, suggested college students “start saving early, save often” in a Wednesday video on Twitter.
iframe.twitter-tweet { width: 100% !important; } Though the video’s main point was to encourage savings, the example provided by Gensler drew some backlash on Twitter, notably from the crypto community, as most “high yield” savings accounts in U.S. dollars offer annual percentage yields closer to 0.6% or less, according to Bankrate.
Nasdaq-listed crypto exchange Coinbase COIN, -2.39% recently dropped its plan to launch a crypto lending program, after the company said it received a lawsuit threat from the SEC. The program intended to allow customers a way to earn interest of around 4% APY by lending their holdings of Circle’s stablecoin USDC, a cryptocurrency pegged 1:1 to U.S. dollars, to Coinbase.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Crypto Funds Trade in Coins That Are Under SEC ScrutinyFinancial regulators have trumpeted a tougher line on cryptocurrencies. That hasn’t stopped a number of DeFi funds from investing in them with gusto—and at considerable risk.
Read more »
U.S. SEC delays certain assets from enforcement actions under new disclosure ruleThe U.S. Securities and Exchange Commission (SEC) said on Friday that it would delay enforcement of certain assets from a new disclosure rule for off-exchange securities until Jan. 3, 2022.
Read more »
Subprime auto lender Honor Finance set up ‘house of cards’ debt deal that was ‘doomed to fail,’ SEC claimsFive years ago, Honor Finance sold a $100 million subprime auto bond deal to investors the SEC claims was 'secretly stuffed' with 'bad loans' that executives...
Read more »
Schools With Face-Mask Requirements Had Fewer Covid-19 Outbreaks, CDC Study FindsFace-mask requirements in schools drastically reduce the spread of Covid-19 among children, two studies published by the Centers for Disease Control and Prevention suggest
Read more »
Hip-hop artist helps bring free grocery store to his former middle school'It’s everything I wanted,' Grammy-nominated hip-hop artist Gunna said as he surprised students and attended the store's grand opening. 'I’m going to continue to keep giving back.'
Read more »
Crypto Funds Trade in Coins That Are Under SEC ScrutinyFinancial regulators have trumpeted a tougher line on cryptocurrencies. That hasn’t stopped a number of DeFi funds from investing in them with gusto—and at considerable risk.
Read more »