August 8, 2024 @ 11:37 am By JD Alois  |  

Following a GAAP net loss of $9.4 million or $0.12 loss per diluted share revealed in Q2 operating results, NerdWallet (Nasdaq: NRDS) will restructure and slash 15% of its workforce. Tim Chen, co-founder and CEO of NerdWallet, said they met their topline expectations of generating… Read More

August 8, 2024 @ 11:16 am By JD Alois  |  

The British Business Bank has issued a statement committing to providing £2.3 for smaller UK businesses—a record amount. At the same time, the group has posted an “unrealized loss” as valuations in long-term investments have declined. The loss for 2023/2024 stands at £122 million. The Bank… Read More

August 8, 2024 @ 8:47 am By JD Alois  |  

Ripple, the issuer of XRP, has long been ensconced in a legal battle with the Securities and Exchange Commission over allegations of offering an unregistered security. However, it appears to have been let off lightly by paying a penalty of $125 million. Ripple CEO Brad… Read More

August 8, 2024 @ 8:16 am By JD Alois  |  

CapitalRise has originated a £6.3 million loan to facilitate a property in the heart of Mayfair. CapitalRise specializes in prime London real estate financing. This specific townhouse was originally built in 1736 and is a Grade II listed property encompassing 10,707sq.ft. The structury currently includes… Read More

August 8, 2024 @ 8:08 am By JD Alois  |  

Binance is reporting that it has reclaimed more than $73 million in funds pilfered by hacks. The Binance security team is said to have recovered the funds as of July 31st, topping the $55 million recovered in 2023. Binance touts that it has partnered with… Read More

August 7, 2024 @ 3:26 pm By JD Alois  |  

Digital asset firm Bitstamp will partner with Stripe to enable a fiat-to-crypto onramp in the European Union. The collaboration will see the Stripe onramp, a customizable widget powered by Bitstamp. The goal is to simplify the process so developers can incorporate the feature with little… Read More

August 7, 2024 @ 3:10 pm By JD Alois  |  

In the month of July, crypto trading on spot and derivatives centralised exchanges rose 19.0% to $4.94 trillion, according to report distributed by CCData. This is said to be the first increase in four months. The rise in trading is being attributed to the new… Read More

August 7, 2024 @ 12:18 pm By JD Alois  |  

Legislation has been introduced in the US Senate to establish a strategic Bitcoin reserve. Submitted by Senator Cynthia Lummis, well known for her support of digital assets, S.4912, the Bitcoin Act, officially entitled, Boosting Innovation, Technology and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act was sent… Read More

August 6, 2024 @ 3:13 pm By JD Alois  |  

The Canadian Securities Administrators (CSA) and the Canadian Investment Regulatory Organization (CIRO) have issued a statement “reminding” crypto trading platforms must comply with Canadian securities laws by registering as investment dealers and having membership with CIRO. The CSA noted that it contemplated an interim approach,… Read More

August 6, 2024 @ 3:07 pm By JD Alois  |  

Coinshares  (Nasdaq Stockholm: CS; US OTCQX: CNSRF) has published Q2 2024 results that include the benefits of the FTX settlement. The company states that revenue for Q2 2024 came in at £22.5 million compared to the same quarter in 2023 when the company generated £10.7… Read More

August 6, 2024 @ 2:38 pm By JD Alois  |  

The UK has long been a hot center of innovation in financial services. The noted Fintech hub has boosted the UK economy while helping the country maintain its status as a top global financial center. The sagging global economy, commencing with the COVID health crisis,… Read More

August 6, 2024 @ 10:50 am By JD Alois  |  

The Hong Kong Monetary Authority (HKMA) has issued an update on the development of digital banking or “virtual banks” (VB) in Hong Kong. The HKMA states that the establishment of regulated digital banking has achieved its three stated goals: promoting Fintech and innovation, creating a… Read More

August 6, 2024 @ 7:46 am By JD Alois  |  

Online investment platform Mintos has closed its funding round on Crowdcube at €3.1 million. Mintos notes that this is the second-largest crowdfunding round in Europe for 2024. In two weeks, Mintos said it secured the backing of 3,300 investors, including both existing and new investors…. Read More

August 6, 2024 @ 7:00 am By JD Alois  |  

Blockchain ecosystem IOTA has been recognized as being Shari’a-compliant. According to a note from IOTA, the Cambridge Institute of Islamic Finance’s certification states that the IOTA token fulfills all accepted Shari’a principles and standards, including those practiced by the Islamic financial services industry. IOTA reports… Read More

August 5, 2024 @ 4:52 pm By JD Alois  |  

SEC Commissioner Mark Uyeda recently spoke at an event sponsored by Schwab. Commissioner  Uyeda spoke during a session to address the “regulatory onslaught” that has taken place during Chairman Gary Gensler’s tenure at the agency. In notes provided to CI, Uyeda commented on the impact… Read More

August 5, 2024 @ 12:32 pm By JD Alois  |  

The Monetary Authority of Singapore (MAS) has announced a consultation on transfers to the People’s Republic of China (PRC), including the current suspension of “non-specified channels.” The suspension, pertaining mostly to PRC nationals working in Singapore, is in regard to accounts and funds that were… Read More

August 5, 2024 @ 10:45 am By JD Alois  |  

The American Fintech Council (AFC) has issued a statement on the bipartisan letter sent by a group of House Representatives asking the Consumer Financial Protection Bureau to adjust requirements pertaining to control of consumer data along the lines of Open Banking. The AFC says they… Read More

August 5, 2024 @ 9:49 am By JD Alois  |  

The sky is about to fall today as markets are tanking following the US Federal Reserve’s decision not to cut rates, a moribund jobs report in the US, and Warren Buffet dumping half of his position in Apple (the largest holding in his portfolio), driving… Read More

August 5, 2024 @ 9:25 am By JD Alois  |  

A group of US House Representatives have sent a letter to the Consumer Financial Protection Bureau (CFPB) requesting the agency revise use of personal data. Led by Representatives Mike Flood, Brittany Pettersen, Erin Houchin, and ten other Representatives, the letter notes that the Personal Financial… Read More

August 4, 2024 @ 4:41 pm By JD Alois  |  

Disinformation detector Cyabra will list on the NASDAQ in a SPAC [special purpose acquisition company] deal that will value the company at $70 million. Cyabra is an OurCrowd portfolio company, having raised almost $5 million on the online investment platform. The funding rounds on OurCrowd… Read More