Welcome to another edition of Under60 Daily - a brief rundown of the top happenings in the business world, curated by hand to exclude the clutter and ensure you get up to speed in under a minute.
[Bitcoin] Bitcoin crossed the $20,000 mark and continues to hit record highs as investors flock to the cryptocurrency during the coronavirus pandemic. Bitcoin has tripled in value over the course of 2020 where the U.S. dollar has weakened.
[Fintech] Alphabet and Salesforce-backed British financial technology start-up GoCardless raised $95 million in a fresh investment round led by the venture capital arm of Bain Capital. The new funding values the company at $970 million
[Legal] 10 American states sued Google on Wednesday alleging that the search giant colluded with Facebook to rid ad auctions and maintaining an illegal digital-advertising monopoly
[Legal] Robinhood is facing legal action from the Massachusetts securities regulator for ‘gamifying’ investing. The regulator also claims that Robinhood did not have adequate controls to protect inexperienced investors.
Over60: Sky News
[Monetary Policy] The Federal Reserve is set to purchase at least $120 billion of debt per month until it observes substantial progress being made in the economic recovery of the U.S. economy. Officials upgraded their outlook for the economy but plan on keeping rates close to zero until 2023.
Over60: Economic Times