Banking regulators will face tough questions from Congress today while th𒈔e U.S. brings a case against the world’s largest cryptocurrency exchange. Here’s what investors need to know today.

1. Cong🧸ress to Grill R🃏egulators Over Banking Collapse

Top U.S. banking regulators are scheduled to appear this morning before the Senate Banking
Committee to discuss the collapse of Silicon Valley Bank and Signature Bank. Witnesses will include FDIC Chair Martin Gruenberg, Fed Vice Chair Michael Barr, and U.S. Under Secretary of Treasury Nellie Liang.

2. Regulators Bring Case Against Cryptocurreꦕncy Exchange Binance

U.S. regulators 澳洲幸运5官方开奖结果体彩网:sued Binance alleging the operator of the world’s largest cryptocurrency exchange and its founder Zhao Changpeng kept an illegal foothold in the American market and violated rules designed to prevent illicit financial activity. A Binance spokesperson called the CFTC’s actions “unexpected and disappointing,” saying the company had made “significant investments over the past two years to ensure we do not have U.S. users active on our platform.”

3. Alibaba Shares Jump Af🐟ter 🦹Announcing Plans to Split Up Divisions

Alibaba (BABA) shares are rising more than 6% in pre-market trading on a report the company plans to split its $220 billion empire into six main units that will individually raise funds and explore IPOs. The plan to split into units covering 澳洲幸运5官方开奖结果体彩网:ecommerce, media, and the cloud would mark the biggest overhaul of China’s ecommerce leader since its inception more than two decades ago.

4. Lyft Shares Rise After Introducing New CEO

Shares of ride hailing company Lyft (LYFT) are up more than 5% in pre-market trading after the company announced it has hired board member David Risher as its new CEO. The founders of the company, Logan Green and John Zimmer, will step back from day-to-day management of the company.

5. Facebook to Lower Bonuses for Some Staff

Facebook reportedly plans to lower bonus payouts for some staff. Parent Meta Platforms says it will more frequently assess employee performance as part of a sweeping revamp that includes large job cuts.