The past few months have been disastrous for cryptocurrencies. Even after bouncing back a bit on Friday, bitcoin is now down almost 50 percent from its all-time high in October, and other cryptocurrencies'including well-established ones such as ethereum and solana'have fallen far further. Crypto winters are nothing new: The biggest drop in bitcoin's history, in 2011, knocked 99 percent off its value. But this one feels especially painful, because it came at a moment when crypto enthusiasts thought they had finally made it. Donald Trump's election finally gave the industry a president who was avowedly crypto-friendly. Trump appointed regulators who, unlike those under Joe Biden, showed no interest in limiting crypto's spread or cracking down on crypto exchanges. In October, he pardoned the founder of the biggest crypto exchange, Binance, who had been convicted of violating U.S. law by failing to adequately prevent money laundering on the site. Trump even put out a crypto coin of his own days before his inauguration'the value of which, like most meme coins, skyrocketed before collapsing....

Teskey takes charge of the $1trn platform as Flatt shifts his focus to Brookfield Corp., where he is pursuing a strategy to build an investment-led insurance business. Flatt will continue as chair of Brookfield Asset Management. The leadership transition comes as Brookfield steps up fundraising across private markets. The firm raised $112bn over the past year, lifting fee-bearing capital to $603bn. Credit strategies accounted for about 65% of inflows, while infrastructure fundraising included $7bn, much of it linked to the group's AI infrastructure initiatives. 'Today's announcement is the next step in the succession process we started four years ago. This will set up our next generation of leaders who will guide the company in the coming decades,' said Flatt in a statement. Commenting on the 2025 results, Teskey said, '2025 was another record year for our business' across each of fundraising, deployment, and monetizations. ['] Looking ahead, we will have key flagship strategies in the market and a growing suite of complementary offerings, positioning us to drive sustained growth across multiple channels. This confidence supports our decision to increase our dividend by 15%.'...

Gross, who was appointed co-managing partner in 2024, will now lead Bain's global partnership. John Connaughton, co-managing partner since 2016, will move into the role of chair, according to a letter sent to investors. The appointment formalises a succession process that has been underway for several years. Gross previously built Bain Capital's Asia investment operations and played a central role in some of the firm's largest transactions, including the $18bn acquisition of semiconductor group Kioxia. Bain manages about $215bn in assets and has evolved into a multi-strategy platform spanning private equity, credit, real estate, life sciences, and venture investing. Unlike peers such as Blackstone and KKR, the firm has remained privately held. In a letter to investors, Bain said: 'We believe effective succession should be planned years in advance, ensuring we develop our leaders, expose them to the right experiences and provide the next generation with exciting growth opportunities.' Subscribe to our Newsletter to increase your edge. Don't worry about the news anymore, through our newsletter you'll receive weekly access to what is happening. Join 120,000 other PE professionals today....

Chief among the burdens weighing upon the weary sports parent'worse than the endless commutes, the exorbitant fees, the obnoxious parents on the other team'is the sense that your every decision has the power to make or break your child's future. Should your 11-year-old show up to her elementary-school holiday concert, even if it means missing a practice with the elite soccer team to which you've pledged 100 percent attendance' What if this turns out to be the fork in the road that consigns her to the athletic scrap heap' These are heavy decisions'at least they are for me, a soccer dad who happens to have spent years writing about the science of athletic success. Making it to the pros, the conventional wisdom says, is a consequence of talent and hard work. Best-selling books have bickered over the precise ratio'whether, say, 10,000 hours of practice trumps having the so-called sports gene. But the bottom line is that you need a sufficient combination of both. If you're talented enough and do the work, you'll make it. If not'well, decisions (and holiday concerts) have consequences....