BlackRock

Money Moves

Investor in Project Prometheus's $10 billion round

Jeff Bezos stepped down as Amazon's chief executive in 2021. Now he's back running a company — and it has nothing to do with e-commerce. Project Prometheus, the physical artificial intelligence startup Bezos co-founded in November 2025, is nearing completion of a $10 billion funding round at a $38 billion valuation, with BlackRock and JPMorgan among the investors. The round would bring total funding past $16 billion in under six months.

Updated Apr 21

Money Moves

Beat Q1 2026 estimates; AUM declined to $13.89 trillion

The six largest American banks wrapped up their first-quarter 2026 reporting with combined net income of $47.3 billion, delivering a near-uniform message from Wall Street: trading floors thrived on the volatility unleashed by the Iran war and Strait of Hormuz closure, while the broader economic outlook grew cloudier. JPMorgan earned $5.94 per share on $50.54 billion in revenue as fixed-income trading surged 21 percent to $7.08 billion. Citigroup posted its best quarterly revenue in a decade at $24.63 billion. Bank of America earned $1.11 per share — its highest earnings per share in nearly two decades — while Morgan Stanley posted a record equities trading quarter of $5.15 billion and a 29 percent jump in profit. Goldman Sachs led the week with record equities trading revenue of $5.33 billion. The results arrived even as the banks collectively announced roughly 5,000 job cuts, a sign that Wall Street is using the profit windfall to trim headcount rather than expand.

Updated Apr 19

Money Moves

IBIT records inflows amid broader ETF outflows; sole major gainer Feb 3

Bitcoin has now fallen over 50% from its October 2025 peak of $126,000, hitting fresh 15-month lows around $66,000-$67,000 by February 5 after plunging 11% in a single day—triggering over $1 billion in new liquidations and extending the longest losing streak since 2018's crypto winter.

Updated Feb 5

Rule Changes

Matching $1,000 for employees' children

The United States has never offered universal investment accounts to children. Starting July 4, 2026, every American born between 2025 and 2028 will receive $1,000 from the Treasury Department deposited into a stock market index fund—accessible at age 18 for education, homebuying, or starting a business. Over 1 million families enrolled in the program's first week.

Updated Jan 31

Rule Changes

Attempted port acquisition blocked by China

A Hong Kong firm has operated the ports on either end of the Panama Canal since 1997. That ended on January 31, 2026, when Panama's Supreme Court voided CK Hutchison's concession as unconstitutional, and Denmark's Maersk assumed temporary control of the Balboa and Cristobal facilities.

Updated Jan 31

Money Moves

World's largest asset manager, driving industry consolidation

MetLife just closed a $734.7 billion bet on survival. On December 30, 2025, the insurance giant completed its acquisition of PineBridge Investments from Hong Kong billionaire Richard Li's Pacific Century Group, catapulting MetLife Investment Management into the top tier of global asset managers. The deal grabbed one-third of its assets from Asia and over half from non-U.S. investors—a geographic expansion play wrapped in an existential necessity.

Updated Dec 31, 2025