Here’s what’s been happening on Wall Street overnight

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Wall Street was abuzz this week with Goldman Sachs bankers and rival financiers questioning what was behind the firm’s Monday announcement that securities division coheads Pablo Salame and Isabelle Ealet would be leaving the bank in June.

We spoke with more than half a dozen Goldman Sachs partners past and present, as well as close confidants to current partners, to understand what happened and what it means for the firm going forward.

Here’s our story: Inside the shakeup at the top of Goldman Sachs’ trading division – and what it means about the future of the firm.

In deal news, PayPal is buying the Swedish card-reading startup iZettle for $US2.2 billion, and Square should be worried. Ad industry execs are buzzing about a potential sale of LiveRamp, one of the most trusted marketing-data platforms.

And in activist news, hedge fund manager David Tepper now has the go-ahead to go full activist on Allergan if he wants to.

In crypto news, forget bitcoin and ethereum, there’s a new cryptocurrency in town: zcash. We break it down for you.

In markets news:


Lastly, Business Insider’s London-based finance reporter Oscar Williams-Grut was on Thursday named a finalist for a prestigious Gerald Loeb Award. You can read his nominated story right here:


‘Market manipulation 101’: ‘Wolf of Wall Street’-style ‘pump and dump’ scams plague cryptocurrency markets

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