February 13, 2017 / 3:56 PM / 10 months ago

Business Watch: Gigabyte war

Bitcoin, a software engineer and a pastor

Pedestrians stand on the sidewalk as they try to view U.S. Democratic presidential nominee Hillary Clinton as she leaves a field office for U.S. Representative Debbie Wasserman Schultz in Davie, Florida, U.S., August 9, 2016. REUTERS/Chris Keane

Yuri Lebedev is a software engineer accused of deceiving financial institutions into processing transactions for the unlicensed bitcoin exchange Coin.mx. Trevon Gross is a New Jersey pastor and former head of a credit union involved in the scheme. Their trial is set to begin today in a Manhattan federal court and it stems from an investigation connected to a breach JPMorgan disclosed in 2014 that exposed more than 83 million accounts.

Bad memories

Some global banks briefly froze credit lines for Singapore metal traders last month after a unit of Glencore uncovered fake warehousing receipts, reviving the specter of a $3 billion scandal that rocked the trading world three years ago.

Gigabyte war

Competition between network carriers is cutthroat and Verizon is reintroducing an unlimited data plan to stay in the game, five years after a first roll out.

Breakingviews: Fed’s Tarullo departure a gift for banks

A regulatory force and bank watchdog since 2009, Daniel Tarullo’s resignation leaves another big opening for President Trump to fill. Whoever succeeds him will be in a better position to roll back regulation than any attempt to reform Dodd-Frank.

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