Coinbase Global is halting operations in Japan, less than a month after another major digital-asset exchange, Kraken, announced its withdrawal from the country.

The former tech entrepreneur, "Razzlekhan" rapper and accused cryptocurrency thief Heather Morgan has a new job.

Silvergate Capital Corp. reported a $1 billion loss and said it would offboard some noncore digital-asset customers following a quarter that saw a dramatic draw-down in deposits after the collapse of Sam Bankman-Fried's FTX.

For the fourth straight quarter, the nation's largest bank boosted its loan-loss reserves, this time setting aside $1.4 billion to cover potentially souring loans. Other big banks made similar moves as the industry braces for a potential recession.

Crypto pain deepens, credit union merger is official and more in banking news this week.

Despite the layoffs across the finance industry, there were no signs of a staffing pullback in JPMorgan Chase or Bank of America's fourth-quarter results. Wells Fargo's headcount dropped to 238,698 from 249,435 a year earlier

JPMorgan Chase Chief Executive Jamie Dimon called the firm's botched acquisition of the college financial-planning website Frank "a huge mistake" and vowed to share takeaways at a later date.

Net interest income rose 29% in the fourth quarter on higher rates and loan growth, though the increase was smaller than forecast. Trading revenue soared 27%.

Citigroup's fixed-income traders turned in a record-setting finale to 2022 as the bank, under pressure to improve returns, braced itself for a less certain economy.

The bank spent $16.2 billion in the last three months of 2022, exceeding analyst estimates.

When the latest quarter's figures get added to it next week, that cumulative loss at the Platform Solutions unit — which includes Goldman's consumer lending operations — will approach $4 billion over three years and $2 billion for 2022, people with knowledge of the matter said.

The company said NII will be about $73 billion this year, below the $74.4 billion estimate of analysts. The forecast followed a record haul of $20.2 billion from net interest income in the fourth quarter.

The Cincinnati bank plans to close branches in Ohio, Michigan and Indiana and to open up to 35 locations in 2023.

Ryan Crowley, previously a Citigroup client-experience executive, replaces the unit's former chief operating officer, Pooja Daswani. The company also picked a CEO for its North America business and launched a search for a new wealth management chief.

Anu Aiyengar, who was named co-head of global M&A in 2020, will be sole head of global mergers and acquisitions at JPMorgan Chase, making her the only woman to lead that franchise at a major Wall Street bank.

A lawsuit filed by the bank against the founder of a tech venture risks renewing concerns about JPMorgan's rapid deployment of shareholder cash in recent years.

The move, which comes with an unspecified number of layoffs, is expected to cost the company $3.8 million to $4.6 million in pretax charges in the second quarter.

The San Antonio-based organization said Don Ford is now president and will become after Lynn Kincaid retires in May.

Sam Bankman-Fried offered one of his most detailed descriptions yet of the FTX debacle as he prepares to fight fraud charges, blaming crashing markets and an attack from a rival for the eventual bankruptcy of his exchange.

JPMorgan Chase is claiming the founder of Frank, a college financial-planning site the bank acquired in 2021, defrauded it by vastly inflating the number of customers the company had.