| Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours. Sign up here to get the best of Business Insider delivered direct to your inbox. Bank of America Merrill Lynch on Monday matched Citigroup and JPMorgan in reporting first quarter earnings that beat analyst expectations. The bank reported first quarter net income of $6.9 billion, a record high, driven by higher interest rates and lower taxes. The bank's equities trading unit had a record quarter, echoing a similar performance in that unit at JPMorgan and Citigroup. Elsewhere in finance news, Goldman Sachs bought money-management app Clarity Money. And $1.6 billion bitcoin exchange Coinbase is snapping up another small crypto company. And billionaire Louis Bacon is reportedly backing a hedge fund manager he once called "the most impressive trader I've ever seen." In markets news: Lastly, these images of water pouring into New York subway stations show just how dire conditions have become. | 
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