November 7, 2023 @ 4:45 pm By JD Alois  |  

The Consumer Financial Protection Bureau (CFPB) wants to expand its portfolio of compliance by targeting big tech and the Fintech services they provide. According to a statement issued by the CFPB today, the agency is targeting digital wallets and payment apps, claiming they must comply… Read More

November 7, 2023 @ 4:29 pm By JD Alois  |  

Robinhood (NASDAQ: HOOD) has posted Q3 earnings results, and the company reported net revenues of $467 million an increase of 29% when comparing the same period last year. At the same time, Robinhood booked a net loss of $85 million or an EPS of -$0.09,… Read More

November 7, 2023 @ 1:40 pm By JD Alois  |  

Stratyfy has joined the American Fintech Council (AFC), a trade association that represents Fintechs and other innovative financial services firms. Stratyfy is an AI and machine-learning Fintech that aims to support credit decisions while reducing fraud. The company is led by female entrepreneurs. Laura Kornhauser,… Read More

November 7, 2023 @ 12:42 pm By JD Alois  |  

Investment crowdfunding displayed strength and resiliency during the month of October, according to the most recent report from Crowdfund Capital Advisors (CCA). While recent weeks have more than their fair share of challenges policy-wise and in regard to the overall economy, investment crowdfunding under Regulation… Read More

November 7, 2023 @ 11:52 am By JD Alois  |  

Charlotte Crosswell, Chair of the Centre for Finance, Innovation, and Technology (CFIT), has shared a comment pertaining to the King’s Speech and policy included in the presentation. This is the first time that King Charles has presided over the King’s Speech since the passing of… Read More

November 7, 2023 @ 8:50 am By JD Alois  |  

In probably the biggest move since new leadership took over at Crowdcube, the investment crowdfunding platform has acquired Semper to further its ability to enable secondary trading of crowdfunded securities. The terms of the acquisition were not revealed. This is Crowdcube’s first acquisition. The two… Read More

November 6, 2023 @ 6:26 pm By JD Alois  |  

DealMaker, one of the fastest-growing companies based in Canada, has hired a Chief Financial Officer. According to a statement from the firm, Mike Rasic has spent the last 35 years working in regulated industries, including with Fintechs. DealMaker says that Rasic specializes in mid-stage firms… Read More

November 6, 2023 @ 5:03 pm By JD Alois  |  

The US Federal Reserve recently published a paper on the potential impact of a Central Bank Digital Currency (CBDC) on the financial system. Currently, many jurisdictions around the world are investigating the possibility of issuing a digital currency – including the US. China is already… Read More

November 6, 2023 @ 4:15 pm By JD Alois  |  

Tomorrow, November 7, at 10 AM ET, the Subcommittee on Financial Institutions and Monetary Policy will hold a hearing on the United States’ position in global financial regulation. Part of the House Financial Services Committee, the hearing is entitled, The Tangled Web of Global Governance:… Read More

November 6, 2023 @ 10:47 am By JD Alois  |  

StartEngine, one of the largest investment crowdfunding platforms in the US, is nearing the close of its most recent self-funding round. StartEngine launched a Reg A+ securities offering earlier this year, selling equity in the company at a pre-money valuation of $1.32 billion. You may… Read More

November 6, 2023 @ 10:29 am By JD Alois  |  

Israel-based OurCrowd has announced the creation of an Israel Resilience Fund following the war with Hamas after the terrorist group invaded Israel in October. OurCrowd is one of the largest investment crowdfunding platforms in the world. While providing access to the Israeli tech scene, OurCrowd… Read More

November 4, 2023 @ 11:35 am By JD Alois  |  

Germany-based Insurtech Wefox has raised $55 million in debt financing following a funding round that valued the company at $4.5 billion. The news was covered by CNBC that reported UniCredit and Deutsche Bank provided the capital. The debt is convertible into equity at the next… Read More

November 4, 2023 @ 7:21 am By JD Alois  |  

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned Russian national Ekaterina Zhdanova for utilizing crypto to launder and move money on behalf of “Russian elites.” Strict sanctions have been enacted by the US and other nations following Russia’s unprovoked… Read More

November 2, 2023 @ 11:38 am By JD Alois  |  

Yesterday, the US Federal Reserve decided it was prudent to hold rates where they are for the time being, and today, the Bank of England decided to do the same. The Bank of England’s Monetary Policy Committee (MPC) has a similar target with inflation as… Read More

November 1, 2023 @ 7:31 pm By JD Alois  |  

Hong Kong is showing its support for digital assets today as ZA Bank, one of a handful of regulated digital banks in the jurisdiction, has announced support for crypto exchange OKX Hong Kong. ZA Bank has issued a statement indicating they will provide an operating… Read More

November 1, 2023 @ 3:49 pm By JD Alois  |  

The US Federal Reserve held rates steady today following a meeting of the Federal Open Market Committee (FOMC). While inflation remains stubbornly high and economic activity robust, the Fed decided it was better to wait and see if the following months of rapid rate increases… Read More

November 1, 2023 @ 1:50 pm By JD Alois  |  

The Securities and Exchange Commission has charged SafeMoon LLC, founder Kyle Nagy, SafeMoon US LLC, its CEO John Karony, and CTO Thomas Smith, for fraud through the unregistered sale of a crypto asset security. Simultaneously, criminal charges were filed in the US Attorney’s Office for… Read More

November 1, 2023 @ 12:28 pm By JD Alois  |  

Representative Patrick McHenry and Senator Cynthia Lummis have joined to issue a statement criticizing a recent action by the Securities and Exchange Commission (SEC). McHenry is Chair of the House Financial Services Committee. Lummis sits on the Senate Banking Committee. The statement revolves around the… Read More

November 1, 2023 @ 11:46 am By JD Alois  |  

Earlier this week, the Securities and Exchange Commission (SEC) filed an enforcement action against SolarWinds (NYSE:SWI) for fraud and failures in regard to “allegedly known cybersecurity risks and vulnerabilities.” CI has received a statement from a SolarWinds spokesperson refuting the SEC’s allegations. The SolarWinds representative… Read More

November 1, 2023 @ 11:27 am By JD Alois  |  

The British Business Bank says it has agreed to a £100 million ENABLE Guarantee transaction with Oxbury Bank, a financial institution that focuses on farmers, food production and the rural economy. Oxbury is described as an “AgTech” bank that operates a Fintech platform called OxburyEarth… Read More