JD Alois

Telegram Responds to SEC’s Enforcement Action: SEC is Attempting to “Steamroll Telegram Into Consenting to a Preliminary Injunction Where There is No Need”

Telegram has responded to the Securities and Exchange Commission’s enforcement action revealed last week. On October 11, the SEC filed an emergency action and obtained a temporary restraining order against Telegram. The SEC targeted an alleged unregistered, ongoing digital token offering in the U.S. and… Read More

European P2P Lender for Property Backed Loans Estate Guru Launches Secondary Market

Pan European peer to peer lender EstateGuru has launched a secondary market for their loans, according to a note from the company. Investors may now buy and sell the securities online. EstateGuru is a peer to peer market for short term, property-backed loans for SMEs…. Read More

Payment Fintech Lemon Way to Receive €25 million Investment from Toscafund Asset Management

European payment Fintech Lemon Way has announced a signed agreement to receive a €25 million investment from Toscafund Asset Management LLP. Details of the investment were not provided. The investment is subject to regulatory approvals. Toscafund is a London-based multi-asset alternative investment management firm with… Read More

Australia: Lime Shuts Down “Digital Advice Tools” Following Concerns Raised by ASIC

Lime FS Pty Ltd has agreed to shut down “digital advice tools” following concerns raised by the Australian Securities and Investment Commission (ASIC). According to ASIC, Lime has voluntarily shut down two digital advice referenced as robo advice. Lime FS’ corporate authorised representatives, Plenty Wealth… Read More

Swiss Federal Council Receives Update on Stablecoins, Told Libra to be Classified as a Payment System

The Swiss Federal Council received an update yesterday regarding the topic of stablecoins and Facebook’s Libra specifically. According to a post on the Swiss government website, Switzerland will continue to actively monitor discussions on new digital technologies such as blockchain/DLT and the country is generally… Read More

Congressman Patrick McHenry Posts Update on Financial Services Committee Leadership Changes

Congressman Patrick McHenry, the ranking member on the House Financial Services Committee, has posted an update regarding several leadership positions including the new Task Force on Fintech and Task Force on Artificial Intelligence. The following Representatives are now taking the designated leadership roles: Ranking Member… Read More

CFTC Launches Enforcement Action Against Company Relating to Binary Options on Forex and Cryptocurrency Pairs

The U.S. Commodity Futures Trading Commission has filed a civil enforcement action against David Gilbert Saffron and Circle Society Corporation, based in Nevada. The CFTC alleges fraudulent solicitation, misappropriation, and registration violations relating to an $11 million binary options scheme Saffron operated through Circle Society…. Read More

ID Finance Raises £1.5 Million in Minutes on Crowdcube

ID Finance has crowdfunded £1.5 million “within minutes” according to a note from the company. ID Finance is seeking £2 million on Crowdcube. According to the offering page, ID Finance has received the backing of 248 investors hitting  76% of the target raise. ID Finance… Read More

Stifel Takes Minority Stake in Global Crowdfunding Platform OurCrowd, Plans Strategic Partnership

Stifel Financial Corp. (NYSE: SF) has taken a minority stake in global crowdfunding platform OurCrowd. Details on the investment were not provided. The Israel based investment marketplace is the largest of its kind in the world having received over $1.28 billion of investment commitments while… Read More

Project Crowd Lists Security Token Offering on WeOwn

Project Crowd, an “AI recruitment platform,” has listed a security token offering (STO) on WeOwn. This is WeOwn’s first STO. According to a release, after launching a private fundraising round through the WeOwn platform in September, Project Crowd is now open to public investment, with… Read More

Google Effectively Bans PayDay Lenders from Advertising their Loans

Google UK

Google has banned high-interest rate lenders from the Google Play app store. First reported by WSJ.com, the move was said to be made to protect people from “exploitive personal loan terms.” The report quoted a Google spokesperson: “Our Google Play developer policies are designed to… Read More

Report: US VC Funding Declines in Q3, Fintech Deals Decline Too

US venture capital funding fell in the third quarter of 2019 as both funding levels and the number of deals both declined. As funding dips, the Unicorn herd has hit a new record as there are currently 180 private companies valued at over $1 billion…. Read More

Regtech: ClauseMatch is Now Live in Italy in New Partnership with Banca Intesa Sanpaolo

ClauseMatch has announced that it now operational at Intesa Sanpaolo. The partnership is said to be the genesis of a meeting at Fintech Innovation Lab hosted by the Bank. A Proof of Concept soon followed. The ClauseMatch platform is currently being used by Barclays and… Read More

NASDAQ Lists CIX100 an Index of the 100 Top Cryptos by Cryptoindex.com

NASDAQ has listed its first crypto index – the CIX100 from Cryptoindex.com. The index is made up of cryptocurrencies selected from a list of over 2500 coins and rebalanced on a continuous basis. Cryptoindex is quick to point out that they exclude “coins with fake… Read More

Goldman Sachs Reports $55 Billion in Consumer Deposits, No Color on Apple Card Partnership

Goldman Sachs (NYSE:GS) revealed Q3 earnings this morning. The conference call is scheduled for 11AM ET today. Results were good but not great as earnings missed estimates. Shares declined in pre-market trading. Buried within the presentation is the fact that Goldman Sachs now claims $55… Read More

Aussie-UK Fintech Bridge: Department of International Trade Brings 9 Fintechs to Australia

The previously announced UK-Australia FinTech Bridge Pilot Programme has kicked off with the Department for International Trade (DIT) bringing 9 UK Fintech firms to Australia. The project is part of an ongoing effort to extend the UK’s prominence as a Fintech while building global partnerships…. Read More

Thameside Investment Group Purchases 20% of Institutional P2P Debt Trading Platform ASMX at £5 Million Valuation

Thameside Investment Group has purchased 20% of peer to peer debt trading platform ASMX, according to a note from the company. ASMX was valued at £5 million. Thameside is a UK-based multi-asset investor that currently holds two portfolio companies. ASMX is a secondary market designed… Read More

Telegram Enforcement Action: “A reminder that the SEC not only has considerable enforcement tools but is willing to use them”

Last week, Crowdfund Insider reported on the Securities and Exchange Commission (SEC) enforcement action against Telegram and the issuance of Gram tokens. The move by the SEC is a doozy and telling. First, Telegram sold about $1.7 billion in a SAFT (simple agreement for future… Read More

Libra Association Touts Participation of Members as Headlines Cover Defections

Earlier today, the Libra Assocation issued a release announcing that 21 members have signed the Libra Association Charter and formalized the Libra Association council, elected the Board of Directors, and appointed members of the Libra Association executive team. The news of Libra’s progress arrives while multiple… Read More

Report: Digital Bank Revolut Seeking $1.5 Billion in New Funding

Digital challenger bank Revolut is said to be looking to raise $1.5 billion in both debt and equity financing according to a report by Sky News. Apparently, Revolut is talking to JP Morgan to  raise $500 million in equity plus an additional $1 billion in… Read More

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