Ken Sweet, The Associated Press

Ken Sweet is a reporter with The Associated Press, an American not-for-profit news agency headquartered in New York City and founded in 1846.

Industry

Banks upbeat on U.S. consumer despite bank profit declines, inflation and rising debt levels

Citigroup said Friday that it's cutting 20,000 jobs, roughly 10% of its workforce

By Ken Sweet, The Associated Press |January 12, 2024

1 min read

Regulation

Regulators approve new bitcoin funds in move that could spur more investment in the digital currency

The SEC said it is finishing the approval of 10 exchange-traded funds for bitcoin

By Ken Sweet, The Associated Press |January 10, 2024

1 min read

Regulation

SEC chair denies social media post about bitcoin ETF approval

Gary Gensler says SEC's account on X was hacked

By Ken Sweet, The Associated Press |January 10, 2024

1 min read

Policy

Big bank CEOs warn that new regulations could harm economy

Bankers warn that the proposals could negatively impact the economy at a time of geopolitical turmoil and inflation

By Ken Sweet, The Associated Press |December 6, 2023

1 min read

Regulation

FTX founder Sam Bankman-Fried acknowledges in court that customers were hurt but denies fraud

The crypto entrepreneur denied taking customers' funds in much-anticipated testimony

By Larry Neumeister, The Associated Press and Ken Sweet, The Associated Press |October 27, 2023

1 min read

Industry

JPMorgan to pay US$75 million on claims that it enabled Jeffrey Epstein’s sex-trafficking operations

The bank had already agreed to pay US$290 million in a class-action lawsuit that involved Epstein's victims

By Ken Sweet, The Associated Press |September 26, 2023

1 min read

Economic Indicators

The largest U.S. banks would survive a severe recession, the Fed’s “stress tests” show

The Fed's scenario had a 40% decline in commercial real estate prices

By Ken Sweet, The Associated Press |June 28, 2023

1 min read

Products

SEC lawsuits against crypto companies raise questions about industry’s future

The lawsuits are the latest in an ongoing tussle between government and the crypto industry

By Fatima Hussein, The Associated Press and Ken Sweet, The Associated Press |June 12, 2023

1 min read

Industry

Bank execs blame panicked depositors for SVB, Signature failures

Former CEO Greg Becker told a senate hearing that SVB was the victim of a social media-driven bank run

By Ken Sweet, The Associated Press |May 16, 2023

1 min read

Industry

First Republic Bank seized, sold to JPMorgan Chase

Customers pulled out more than US$100 billion in deposits after SVB and Signature Bank failed

By Ken Sweet, The Associated Press |May 1, 2023

1 min read

Industry

Big U.S. banks create $30B rescue package for First Republic

The California-based bank serves a similar clientele as did failed Silicon Valley Bank

By Ken Sweet, The Associated Press |March 16, 2023

1 min read

Industry

Crypto firms acted like banks, then collapsed like dominoes

In less than 12 months, nearly all the biggest lenders have failed spectacularly

By Ken Sweet, The Associated Press |January 24, 2023

1 min read

Industry

Bank to pay US$31M redlining settlement, DoJ’s largest ever

The department says City National avoided underwriting mortgages in majority Black and Latino neighborhoods

By Ken Sweet, The Associated Press |January 12, 2023

1 min read

Industry

FTX’s Bankman-Fried charged in U.S. for ‘scheme’ to defraud

The criminal indictment is on top of civil charges from the SEC

By Ken Sweet, The Associated Press |December 13, 2022

1 min read

Industry

Embattled crypto exchange FTX files for bankruptcy

Founder Sam Bankman-Fried has resigned as CEO, Binance backed out of acquisition deal

By Ken Sweet, The Associated Press |November 11, 2022

1 min read

Industry

Cryptocurrencies plunge as Binance scraps deal for rival FTX

Bitcoin down 12%, Ethereum down 13%

By Ken Sweet, The Associated Press |November 9, 2022

1 min read

Industry

Crypto exchange Binance to buy rival FTX in apparent bailout

The deal would make Binance an even more dominant player in the cryptocurrency industry

By Ken Sweet, The Associated Press |November 8, 2022

1 min read

Industry

Bitcoin plunges as major crypto lender halts operations

Celsius Network stopped withdrawals and transfers between accounts

By Ken Sweet, The Associated Press |June 13, 2022

1 min read

Economic Indicators

Inflation, Ukraine overtake Covid as biggest threats to financial system, Fed says

The observations came in the Fed's semiannual Financial Stability Report

By Ken Sweet, The Associated Press |May 9, 2022

1 min read

Industry

Freed from Covid restrictions, big U.S. banks hike dividends

Banks see few places to put their big profits other than back into the hands of their shareholders

By Ken Sweet, The Associated Press |June 29, 2021

1 min read

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