Mansions for kids — Life after Google Plex — Citco's AWS journey

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On the agenda today:

• Wealthy baby boomers are using loans to buy their children homes and save on taxes.
• Banks that partnered with Google on its digital bank account describe what's next.
• Citco gave us an inside look at its massive migration to AWS.

Let's get started. 

Wealthy parents are using cheap loans to buy their adult children homes 

For affluent parents, using the low-interest loans can be a way to pass down their wealth — and save on taxes. Baby boomers borrowing against their investment portfolios are feeding the all-cash bidding frenzy. Here's how it works.

What's next for banks that partnered with Google

The 11 banks that signed on to help Google offer its checking account share what's next for them in the wake of the project getting scrapped. Some said they'd partner with Google on future projects, while others said they intend to leverage the development. See what banks are doing now that Google's digital bank account is no more.

Harry and Meghan get into the investment business

The couple told DealBook they're joining Ethic, a $1.3 billion asset manager, as "impact partners." With $1.3 billion under management in the environmental, social, and governance space, the pair hopes it'll encourage younger people to invest in sustainable firms. More on their move into investing.

A newly minted $2.2 billion credit fund is on the hunt for tech deals

Tech investor Francisco Partners just closed its second credit fund, a $2.2 billion effort dubbed FP Credit Partners II. The fresh funding, set to be deployed over three years, will target healthcare opportunities, fintech, security, and industrial technology companies. Here's how it'll put the money to work.

Inside Citco's transition from physical data centers to AWS

Citco has moved $1 trillion in assets under administration to AWS. The firm took 18 months to migrate 10,000 accounts from more than 550 clients to the cloud. Get an inside look at the massive cloud-migration project.

Celsius Network's valuation soars 2,400%

Cryptocurrency lender Celsius Network has raised $400 million in its latest fundraising round, pushing its valuation to $3 billion. The latest cash injection will be used to expand its offerings and products, Celsius said. More on that here.

On our radar:

• Bloomberg spoke with five traders, who gave them tips for surviving disrupted markets. Get a glimpse inside traders' lives.
• Bond platform Trumid has raised $208 million, per The Financial Times. More on that here. 
• eFinancialCareers reported that Goldman Sachs' 2021 layoffs are probably not happening. They explain why.
• The SEC opened an inquiry into how Wall Street banks keep track of employees' communications, according to Reuters. Get the rundown here.
• The New York Times reported on new research that found racial bias skewed small-business relief lending.