JPMorgan pays $290M for Epstein sex-trafficking — June 13, 2023

TLDR:

JPMorgan pays up to Jeffrey Epstein’s victims, Reddit goes dark, Tech helps fight invasive bugs, cancer cells get a bloodhound, UK crypto scene heats up, Berlusconi bites the dust, US rejoins UNESCO, NATO flexes its muscles, Denver Nuggets win NBA title, NASA writes a sonnet, Jack Daniel’s wins trademark case, NYC to charge for traffic, Netflix cracks down on passwords, users sign up in droves.

Finance:

• JPMorgan Chase settles Jeffrey Epstein case for $290M, one of the largest civil sex-trafficking settlements.
• JPMorgan faces similar claims in separate lawsuit with US Virgin Islands.
• Nasdaq to acquire financial software-maker Adenza for $10.5 billion.

Yesterday’s Market Moves

Technology:

• Researchers engineer white blood cells to identify and eliminate cancerous tumors.
• UK becoming a crypto hub: a16z opens office in London, focuses on blockchain investments.
• a16z funds UK-based blockchain venture Gensyn, plans crypto startup accelerator in London.

Politics:

• Former Italian Prime Minister Silvio Berlusconi dies at 86, controversial political career marred by scandals.
• US plans to rejoin UNESCO and pay back dues after five-year hiatus.
• NATO begins largest-ever air exercise coordinated by Germany.
• UK government aims to develop comprehensive crypto rules, promote global crypto hub status.
• US authorities sue Binance and Coinbase, concerns for a16z’s crypto investments.

Others:

• Denver Nuggets win first NBA championship in franchise history, defeat Miami Heat in Game 5.
• NASA to send a poem to Jupiter’s moon, Europa.
• US Supreme Court rules in favor of Jack Daniel’s in trade-bark-infringement case.
• NYC on track to become first US city with congestion tolls.
• Netflix’s password-sharing crackdown leads to record-breaking sign-up days.