Category: Personal Finance

Personal FinanceStartups

Asymmetric Capital Defies VC Odds with $137 Million Second Fund Amid Industry Shifts

New York-based Asymmetric Capital Partners has reportedly closed a $137 million second fund, surpassing its original target. The firm’s philosophy emphasizes capital efficiency and founder outcomes, contrasting with industry trends toward larger funding rounds.

Defying Industry Trends with Focused Fundraising

Asymmetric Capital Partners has successfully raised a $137 million second fund, exceeding its $125 million target according to reports from Fortune. This achievement comes during a challenging period for venture capital firms, particularly those established during the 2021 funding boom. Sources indicate that only approximately 8% of first-time VC funds from 2021 have managed to raise larger second funds, making Asymmetric’s accomplishment particularly notable.

by Darren Holt
AI AnalyticsPersonal Finance

Plaid CEO Predicts AI Will Automate Financial Lives, Sees ChatGPT as Future Advisor

The CEO of financial technology company Plaid has declared that artificial intelligence will inevitably drive our financial lives. Zach Perret expressed strong personal trust in AI systems, stating he would fully automate his finances if possible.

AI’s Inevitable Role in Personal Finance

According to reports from Semafor’s World Economic Summit in Washington, DC, fintech leader Zach Perret has made bold predictions about the future of artificial intelligence in managing personal finances. The Chief Executive Officer of Plaid stated that “it is inevitable that AI is going to drive our financial lives,” though he acknowledged that individual adoption levels would represent personal decisions.

by Natalie Brooks
Assistive TechnologyPersonal Finance

PayPal Crypto Partner Paxos Mints $300 Trillion in PYUSD Stablecoins Due to Technical Glitch

In a startling technical mishap, Paxos Trust Company mistakenly minted $300 trillion worth of PayPal’s PYUSD stablecoin before quickly burning the excess tokens. The error, which was detected and corrected within approximately 20 minutes, reportedly occurred during an internal transfer process. Industry analysts suggest this incident underscores the technical risks inherent in blockchain-based financial systems despite assurances that customer funds remained secure.

Massive Stablecoin Minting Error Detected

Paxos, the blockchain partner of PayPal, mistakenly created $300 trillion of the online payment giant’s stablecoin on Wednesday in what the company described as a “technical error,” according to reports. Market observers reportedly spotted the enormous injection of the PayPal PYUSD stablecoin on Etherscan – a block explorer and analytics platform for the Ethereum blockchain where the transaction was visible.

by Natalie Brooks
Economy and TradingPersonal Finance

Major Investors Retreat from Risky Corporate Bonds as Rally Fades

Leading asset managers including BlackRock and Fidelity International are reportedly reducing exposure to riskier corporate debt as credit spreads approach post-crisis lows. Analysts suggest the market may be pricing in an overly optimistic economic scenario despite rising trade tensions.

Institutional Investors Shift to Safer Assets

Major financial institutions are reportedly scaling back their positions in riskier corporate bonds following an extended market rally, according to recent industry analysis. Asset management firms including BlackRock, M&G, and Fidelity International have reportedly begun shifting portfolios toward safer corporate or government debt amid concerns that current credit spreads offer insufficient compensation for risk.

by Darren Holt