May 13, 2023 @ 4:32 pm By JD Alois  |  

After a bit of a struggle to gain access to the Canadian market, Binance has decided to exit the country. In an extended Tweet, Binance announced its decision. Unfortunately, today we are announcing that Binance will be joining other prominent crypto businesses in proactively withdrawing… Read More

May 12, 2023 @ 5:11 pm By JD Alois  |  

Earlier this week, during its earnings call, OTC Markets (OTC:OTCM) revealed that on May 5th, it had received FINRA approval to provide services for digital assets which are securities. In the May 9th earnings report, R. Cromwell Coulson, President and CEO of OTC Markets, stated:… Read More

May 12, 2023 @ 3:13 pm By JD Alois  |  

The French crowdfunding association, Financement Participatif France (FPF), has issued a statement regarding the potential for securities crowdfunding providers to enable local bond offerings. According to the FPF, the ability of platforms to provide a market for community bonds is “doomed to failure” following the… Read More

May 12, 2023 @ 10:36 am By JD Alois  |  

The Chairman of the House Financial Services Committee, Patrick McHenry, has announced another hearing on stablecoins. Scheduled by the Subcommittee on Digital Assets, Financial Technology, and Inclusion, the hearing is entitled: “Putting the ‘Stable’ in ‘Stablecoins:’ How Legislation Will Help Stablecoins Achieve Their Promise.” The… Read More

May 12, 2023 @ 10:25 am By JD Alois  |  

Seedrs has been a bit quieter following its acquisition by Republic but in recent days, the company has posted a comment on platform activity without providing and metrics. Published by Seedrs CEO and Republic EVP Jeff Kelisky, he noted the challenging economic environment that is… Read More

May 12, 2023 @ 8:55 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed charges against GA Investors as well as anonymous operators or “John Does 1-4” alleging fraudulent offerings of securities that includes crypto. The SEC said the bogus offerings were made available through “dozens of websites.” The SEC is… Read More

May 11, 2023 @ 8:44 pm By JD Alois  |  

Mikko Salovaara has quit Revolut. Salovaara, who was the Chief Financial Officer (CFO), has exited the digital bank after just two years in the leadership post, according to multiple reports. While Salovaara has attributed his exit from the Fintech due to personal reasons, Revolut has… Read More

May 11, 2023 @ 7:32 pm By JD Alois  |  

The Federal Deposit Insurance Corporation (FDIC) Board of Directors met today and announced a proposal aimed at addressing recent shortcomings in the regulatory approach regarding the litany of failed banks. The FDIC rules would assess a fee on large banks to generate revenue to cover… Read More

May 11, 2023 @ 9:17 am By JD Alois  |  

Robinhood (NASDAQ:HOOD) reported Q1 2023 results yesterday which were perceived as better than anticipated by investors. Robinhood said that net revenues increased 16% sequentially to $441 million, with transaction-based revenues increasing as well by 11% to $133 million. Crypto trading, once a big driver of… Read More

May 11, 2023 @ 8:41 am By JD Alois  |  

CI reported last month that Jumpstart Micro, a FINRA-regulated Funding Portal able to list securities under the Reg CF exemption, had been acquired by Issuance. Today, Issuance is officially acknowledging the business expansion, noting it will now be able to raise capital under Reg CF… Read More

May 11, 2023 @ 8:16 am By JD Alois  |  

The Bank of England has increased its benchmark rate by 25 bps as anticipated. According to a statement by the Bank, the Monetary Policy Committee (MPC) voted 7 to 2 to raise rates to 4.5%, with the dissenters preferring to hold rates at 4.25%. Similar… Read More

May 11, 2023 @ 7:54 am By JD Alois  |  

The Republic of Estonia has revealed that 100 active firms are providing digital asset services under new rules designed to incorporate stricter AML/KYC requirements. At the same time, the new rules have invalidated 389 crypto firms which were previously authorized but no longer meet the… Read More

May 10, 2023 @ 6:26 pm By JD Alois  |  

MoneyLion (NYSE: ML), a neobank that offers a diverse portfolio of financial services to consumers, reported Q1 earnings this week deliving a solid increase on the top line but flat GAAP net income results. First quarter 2023 revenues increased 34% to $93.7 million in comparison… Read More

May 10, 2023 @ 1:04 pm By JD Alois  |  

Goldman Sachs (NYSE:GS) provides much of the magic behind Apple’s (NASDAQ:AAPL) Fintech ventures. Not too long ago, Apple announced its anticipated saving plan, offering consumers an APY of 4.15% – higher than many banking firms. While few details are available on the success of Apple… Read More

May 10, 2023 @ 12:48 pm By JD Alois  |  

Argyle says that it has boosted consumer verifications by 100% year over year having added more than 35 new customers for its payroll connectivity platform. Shmulik Fishman, Argyle CEO and founder, said the company has packaged five years of learning into their new platform version…. Read More

May 10, 2023 @ 12:41 pm By JD Alois  |  

Rapid Enterprise, part of Rapid Finance, has announced that its loan origination system (LOS), Decisioneer, is now integrated with Mambu’s cloud-based lending platform. Decisioneer is a service that is designed to accelerate the loan decisioning and underwriting process. Targeting both business and consumer lending, Decisioner… Read More

May 10, 2023 @ 9:00 am By JD Alois  |  

Freeport, a fractional art investment platform, has launched for investors pitching a series of Warhol prints. Fractional investing is growing in interest as alternative asset classes can benefit from technology to simplify the process of purchasing a portion of an asset and potentially benefit from… Read More

May 10, 2023 @ 6:13 am By JD Alois  |  

Estateguru has been approved to operate under European Crowdfunding Service Providers Regulation or ECSPR. Under the new EU legislation, a platform may sell securities online across all EU member states. Issuers may raise up to €5 million. Estateguru was approved by the Estonian Financial Supervision… Read More

May 9, 2023 @ 10:55 pm By JD Alois  |  

Business loan approval for small businesses tanked in April, according to a report. The driver is higher interest rates and banks tightening up their books in the volatile market. According to Biz2Credit Small Business Lending Index, loan approval dropped from 13.8% in March to 13.5%… Read More

May 9, 2023 @ 5:06 pm By JD Alois  |  

Upstart (NASDAQ:UPST), an online lending marketplace that leverages artificial intelligence (AI) has posted Q1 2023 earnings that have topped analyst expectations driving shares higher in after-hours trading. Dave Girouard, co-founder and CEO of Upstart, issued a statement sharing he was pleased with Q1 performance: “Despite… Read More