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Fidelity

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Fidelity breach settlement could pay up to $5,000 to affected customers
computing9 days ago

Fidelity breach settlement could pay up to $5,000 to affected customers

Fidelity Investments has agreed to a $2.5 million class-action settlement over a 2024 data breach that affected more than 155,000 customers. Eligible claimants include those Fidelity notified and U.S. customers whose account numbers and routing numbers were exposed; payouts can reach up to $5,000 for documented out-of-pocket losses, with the bulk of payments expected to be pro-rated around $100. A July 9 court hearing will decide final approval, and claims must be filed by July 27 via the settlement website; California residents may receive additional payments under the California Consumer Privacy Act.

Americans Tap 401(k) Hardship Funds at Record Pace Even as Balances Climb
business2 months ago

Americans Tap 401(k) Hardship Funds at Record Pace Even as Balances Climb

Americans are taking hardship withdrawals from retirement accounts at a record pace—6% of Vanguard clients in 2025, up from 4.8% in 2024—while average 401(k) balances rose about 13% since 2024 to roughly $167,970. Withdrawals incur penalties, taxes, and reduced future growth, but easier access and automatic enrollment may explain the uptick; Fidelity data show a similar trend, suggesting growing enrollment and some financial strain, though overall balances remain higher.

Fidelity Increases Valuation of Elon Musk's X and xAI Amid Surging Success
business1 year ago

Fidelity Increases Valuation of Elon Musk's X and xAI Amid Surging Success

Elon Musk's acquisition of Twitter, now rebranded as X, may be gaining value as Fidelity increased its stake valuation by 32.37% in October, despite still being worth 72% less than the $44 billion Musk paid. This rise is partly due to Musk's AI company, xAI, which uses X's posts to train its chatbot, Grok. Musk's influence has grown, aligning with President-elect Donald Trump and supporting his campaign financially. Musk is also set to lead a new government efficiency department aiming to reduce federal spending.

Fidelity Increases Valuation of Musk's X and xAI Investments
business1 year ago

Fidelity Increases Valuation of Musk's X and xAI Investments

Fidelity has increased the valuation of its stake in Elon Musk's X (formerly Twitter) by 32.37% in October, despite still valuing the company significantly lower than Musk's 2022 purchase price. This adjustment is likely linked to Fidelity's investment in Musk's AI startup xAI, which saw a 70% markup in its shares. The move precedes Donald Trump's election victory, which boosted traffic on X but also led users to rival platforms.

Fidelity and Musk's xAI Surge Turn Twitter Investment into a Windfall
business1 year ago

Fidelity and Musk's xAI Surge Turn Twitter Investment into a Windfall

Fidelity has increased the valuation of its stake in Elon Musk's X Holdings by 32.37% in October, despite the company's overall worth being 72% less than its $44 billion purchase price. This increase is likely linked to xAI, another Musk venture, in which Fidelity invested and recently marked up its shares by 70%. X Holdings reportedly has a significant stake in xAI, which may explain the valuation boost. Meanwhile, X remains a dominant social platform in the U.S., especially during elections, as Musk's relationship with Donald Trump strengthens.

"Ethereum ETFs Near SEC Approval Amid Political and Market Turbulence"
finance2 years ago

"Ethereum ETFs Near SEC Approval Amid Political and Market Turbulence"

Major asset managers including BlackRock and Fidelity have amended their filings for a spot Ethereum ETF as the SEC's decision deadline approaches. The flurry of updated 19b-4 forms indicates a strong push for approval, which could give investors exposure to Ethereum via stock exchange-traded shares. The price of ETH has surged amid speculation of imminent approval.

Bitcoin ETF Flows Surge, Driving Record Volumes and Slowing GBTC Outflows
cryptocurrency2 years ago

Bitcoin ETF Flows Surge, Driving Record Volumes and Slowing GBTC Outflows

Spot Bitcoin ETF flows turned positive this week, with Fidelity's FBTC leading the inflows and Grayscale's GBTC outflows slowing. The combined U.S. spot Bitcoin ETFs saw net inflows of $113.5 million on Wednesday, surpassing the previous day's outflows. Grayscale's GBTC fund has experienced significant outflows, falling 47% from around 619,000 BTC to 328,000 BTC. Despite the slowdown in outflows, overall spot Bitcoin ETF daily flows and volume have been declining since peaking in March.

"Bitcoin ETFs Reverse Outflow Trend, Crypto Fund Outflows Hit Record"
finance2 years ago

"Bitcoin ETFs Reverse Outflow Trend, Crypto Fund Outflows Hit Record"

Spot bitcoin exchange-traded funds (ETFs) saw a total net inflow of $15.7 million yesterday, breaking a five-day outflow streak. Fidelity's FBTC received the highest single-day net inflow of approximately $261 million, while BlackRock's IBIT saw an inflow of roughly $35.5 million. However, Grayscale's GBTC experienced a single-day net outflow of $350 million. The fervor for spot bitcoin ETFs has relaxed somewhat in recent days, with assets under management plateauing and volumes decreasing from their early March peak.

"Bitcoin ETFs Reverse Outflows Trend, Accumulate $15.4M Despite Market Volatility"
cryptocurrency-investment2 years ago

"Bitcoin ETFs Reverse Outflows Trend, Accumulate $15.4M Despite Market Volatility"

Bitcoin spot ETFs accumulated $15.4 million on Monday, ending a five-day outflow streak, with Fidelity's FBTC leading the inflows. Nearly a dozen spot ETFs debuted in the U.S. on Jan. 11, allowing investors to take exposure to the leading cryptocurrency while bypassing the hassles of owning and storing the digital asset. Analysts anticipate stronger quarter-end flows, potentially lifting the cryptocurrency's price to new highs, but stress the need for spot ETF inflows and issuance of dollar-pegged stablecoin tether (USDT) for bitcoin to chart another aggressive move higher.