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The Wednesday Express: Berkshire exits IBM; crypto startup Circle raises $110M

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The Wednesday Express: Berkshire exits IBM; crypto startup Circle raises $110M

* JPMorgan Chase Chairman and CEO Jamie Dimon said that he would stay at the helm of the company for five more years.

* Insurance broker The Evans Agency is buying fellow New York-based Richardson & Stout Insurance.

* In the first quarter, insurance conglomerate Berkshire Hathaway exited its stake in computer manufacturer International Business Machines.

* The secondary public offering of insurer James River Group Holdings raised net proceeds of about $118.7 million.

* The number of new individual long-term care policies issued in 2017 continued to decrease year over year, reflecting the cumulative impact of market exits by some of the industry's best-known insurers.

* Cryptocurrency startup Circle raised $110 million in an equity investment led by Chinese virtual coin mining giant Bitmain Technologies. Proceeds from the fundraising will be used to create a new cryptocurrency pegged to the U.S. dollar.

* Federal Reserve Governor Lael Brainard said that she does not see a "compelling demonstrated need" for the Fed to issue its own digital currency.

* Today, House Financial Services subcommittees will hold hearings on the oversight of the Securities and Exchange Commission's enforcement division and the implementation of the Financial Crimes Enforcement Network's customer due diligence rule.

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