JD Alois

SEC Commissioners Comment on Meme Stock Report: Is There a Problem Here?

Earlier today the Securities and Exchange Commission (SEC) published its “meme stock” report – otherwise known as the Staff Report on Equity and Options Market Structure Conditions in Early 2021. As was covered earlier, this report addresses the Gamestop/Robinhood/Reddit odyssey where retail investors created a short… Read More

SEC Issues Report on Market Structure Including Meme Stocks: Observers Say Nothing New Here

The Securities and Exchange Commission (SEC) has issued its anticipated report on market structure, including the emergence of Meme stocks – like GameStop. Some observers said there was little new in the report as it towed the line of SEC Chairman Gary Gensler’s recent proclamations…. Read More

Digital Bank Zopa Raises $300 Million, Expects to be Profitable within Weeks

Zopa, a digital bank that started as a peer-to-peer lender, has raised $300 million (£220 million) in a funding round that reportedly gives the Fintech a $1 billion valuation. The deal is currently in the process of receiving regulatory approvals from UK regulators.  JP Morgan… Read More

First Bitcoin ETF Expected to Trade this Week

After an extended wait for financial services firms attempting to launch an exchange-traded fund (ETF) based on Bitcoin, the very first Bitcoin ETF is expected to trade tomorrow on the New York Stock Exchange (NYSE). Last week, it was revealed that ProShares Bitcoin Strategy ETF… Read More

Circle Now Supported on Hedera Network

Circle, a stablecoin issuer and aspiring banking platform, is now supported on the Hedera Hashgraph network, according to a note from the company. USDC is a dollar-based stablecoin with over $30 billion in circulation that is widely utilized for payments in the crypto ecosystem. Hedera… Read More

Digital Bank N26 Raises “Record Breaking” $900 Million Round at $9+ Billion Valuation

Digital banking continues to be a hot sector of Fintech as Germany-based N26 has announced a $900 million “record-breaking” funding round at a whopping $9+ billion valuation. The capital infusion was led by Third Point Ventures and Coatue Management, with Dragoneer Investment Group joining as… Read More

Grayscale Now Has 9 Publicly Traded Crypto Offerings with New Investment Options Including Zcash, Stellar Lumens and Horizen

Digital asset manager Grayscale now has 9 publicly traded crypto products with the addition of Grayscale Zcash Trust, Grayscale Stellar Lumens Trust, and Grayscale Horizen Trust now trading on OTC Markets (OTCQX Best Market). The trading symbols for these vehicles are ZCSH, GXLM, and HZEN,… Read More

Deel Raises Huge $425 Million Series D at $5.5 Billion Valuation

Deel has just raised $425 million at a valuation of $5.5 billion, according to a note from the company. Deel claims the title as the “highest valued company in the global hiring, payments, and compliance space.” The Series D funding round was led by Coatue,… Read More

Klarna Adds Pay Now Option Following Complaints About BNPL Service

Klarna, a neobank and payments platform, has announced the addition of the ability to “Pay Now” for UK customers alongside the option to pay overtime or Buy Now, Pay Later (BNPL) service. Klarna said it took these actions after being informed by the UK Financial… Read More

Chip Now Over £11 Million on Crowdcube

Fintech Chip is now over £11.5 million for its equity offering on Crowdcube. As it stands today, around 9650 investors have participated in the securities offering which is raising equity capital at a pre-money valuation of over £86 million. Sales are expected to close today…. Read More

Railspay, Part of Railsbank, Collaborates with Parpera on Banking as a Service Offering

RailsPay, an offshoot of Railsbank operating in Australia, has partnered with Parpera to offer its first Banking as a Service (BaaS) product. Parpera is a money management platform for consultations, freelancers, startup founders, and gig-workers. There are an estimated 2.4 million businesses in Australia with… Read More

Mortgage Platform SimpleNexus Acquires LBA Ware in Consolidation Move

SimpleNexus a platform for mortgage lenders, has acquired LBA Ware – another mortgage lender software provider, according to a company release. The deal which is expected to close this week brings together 325 employees serving 425 lenders and tech integration partners. SimpleNexus CEO Cathleen Schreiner Gates says… Read More

China: WeiyangX Fintech Review

2021 Suzhou Marathon Bonus will be Issued in the Form of Digital RMB On October 10th, the organizer of the 2021 Suzhou (Taihu Lake) Marathon announced at a press conference that the bonus for this year’s event will be granted in the form of digital… Read More

Embedded Finance Fintech Alviere Raises $70 Million Series A/B Funding

Embedded finance firm Alviere has raised $70 million in a Series A and B funding round led by Viola Ventures and Viola Fintech. Alviere seeks to empower any business to launch a new financial services line. Alviere expects to benefit from a sector of Fintech… Read More

Tether Issues Statement on CFTC Settlement

As was reported earlier today, Tether – the leading dollar-based stablecoin (USDT), along with crypto exchange Bitfinex, were the targets of enforcement actions issued by the US Commodity Futures Trading Commission (CFTC). Both platforms are required to pay penalties with Tether paying $41 million and… Read More

CFTC Commissioner Stump Comments on Tether/Bitfinex Enforcement Action: Concerned About Regulatory Confusion on Stablecoins

At the same time the CFTC announced its enforcement actions against Bitfinex and Tether, Commissioner Dawn D. Stump has issued a statement regarding the action by the regulator. Commissioner Stump says she agrees with the action taken by the Commission while expressing her concern regarding… Read More

Tether, Bitfinex Ordered to Pay Over $42 Million in Fines by CFTC

The Commodity Futures Trading Commission (CFTC) has ordered Tether and Bitfinex (iFinex) to pay $42.5 million in fines, according to a statement by the regulator. Tether, a leading dollar-based stablecoin, must pay $41 million in regards to claims that Tether (USDT) was fully backed by… Read More

Shares in Digital Bank LendingClub Top 52 Week High

LendingClub (NYSE:LC), a digital bank and online lending platform, has seen its shares print a new 52 week high as markets rally. LendingClub’s shares once trolled the cellar of value trading under $5. Today, the once-moribund equity, has been reanimated and is now trading at… Read More

Goldman Sachs Beats Estimates, Consumer and Wealth Management Tops $2 Billion, Shares Rise

Goldman Sachs (NYSE:GS) a global investment bank and fast-growing Fintech firm, has reported Q3 financial results and business is good. According to Goldman, during the first nine months of 2021, the company generated net revenues of $46.70 billion along with net earnings of $17.70 billion… Read More

Wirex Will White Label its Fiat and Crypto Transfer Services

Wirex, a payments and transfer platform offering both crypto and fiat services, says it will white label its services for the first time. The company is h0ping to provide services to both traditional banking firms as well as Fintechs. Wirex says there are few other… Read More

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