March 10, 2023 @ 5:47 pm By JD Alois  |  

The dust is still settling following the collapse of Silicon Valley Bank (NASDAQ:SIVB). While greater clarity may arise next week, clients of the bank are scrambling to figure out what they have and what they may not hold. Following the market close, LendingClub (NYSE:LC), a… Read More

March 10, 2023 @ 4:57 pm By JD Alois  |  

Today, the Securities and Exchange Commission (SEC) denied once again a request to list and trade shares of the VanEck Bitcoin Trust on the Cboe BZX Exchange. The Commission said that BZX had not demonstrated sufficiently it would protect investors and guard against fraud and… Read More

March 10, 2023 @ 12:13 pm By JD Alois  |  

The Federal Deposit Insurance Corporation (FDIC) has decided to wind down the operations of Silicon Valley Bank (NASDAQ:SVIB), following a capital deficit and an effective run on the bank. SVB has long been a top business bank for startups based in Silicon Valley and around… Read More

March 10, 2023 @ 11:20 am By JD Alois  |  

Seedrs, a top UK-based investment crowdfunding platform that operates across Europe, is reporting £84 million in investment across all securities offerings during the month of February. In US dollars, this equates to over $100 million, so Seedrs could top USD $ 1 billion during 2023…. Read More

March 10, 2023 @ 9:32 am By JD Alois  |  

Roofstock, a successful real estate Fintech that enables the investment and management of properties, says it has topped $100 billion in assets tracked. At the same time, Roofstock revealed a new service dubbed “Stressa Pro,” a digital application providing tools for real estate investors. Roofstock… Read More

March 10, 2023 @ 9:09 am By JD Alois  |  

Yesterday, CI received multiple texts from Fintech insiders that expressed their worries about Silicon Valley Bank (NASDAQ:SIVB), a bank favored by startups. Shares in the bank tanked by over 60% yesterday as investors rushed for the exit. The cause of concern was the announcement by… Read More

March 9, 2023 @ 4:49 pm By JD Alois  |  

Silvergate Capital Corporation (NYSE:SI) has seen its market valuation plummet as it now trades at bankruptcy levels. At market close today, Silvergate shares traded at $2.84, having lost over 42% of its value during the day. The cratering of value followed the news yesterday that… Read More

March 9, 2023 @ 4:36 pm By JD Alois  |  

Share Scoops, a “money activism platform” is raising growth capital on Republic. According to the offering page, Share Scoops is offering a “CROWD SAFE” at a valuation cap of $10 million. A SAFE allows an investor to make an investment at a later date following… Read More

March 9, 2023 @ 12:53 pm By JD Alois  |  

NMB Bank, a commercial bank headquartered in Dar es Salaam, Tanzania, has listed its first “gender bond” on the Luxembourg Green Exchange (LGX). The bond holds a face value of  TZS 74 billion or the equivalent to USD $ 32 million). In a special event… Read More

March 9, 2023 @ 11:39 am By JD Alois  |  

Like the day is followed by night, we can count on politicians piling on a debacle when they can craft a sound bite that fits their desired narrative. As was reported yesterday, Silvergate Capital Corporation (NYSE:SI) has decided to wind down its operations following the collapse… Read More

March 9, 2023 @ 10:50 am By JD Alois  |  

In a diplomatically worded missive, the Securities and Exchange Commission, Small Business Capital Formation Advisory Committee, has posted a “Parting Perspective Letter” regarding its efforts in recent years while outlining its recommendations – that the Commission has ignored. The letter, signed by Committee Chair Carla… Read More

March 9, 2023 @ 9:02 am By JD Alois  |  

SeedBlink, a European securities crowdfunding platform that is based in Bulgaria but is expanding across Europe, has announced the launch of a secondary trading marketplace, thus providing liquidity for private securities. SeedBlink received its ECSPR approval last fall, enabling it to solicit investors across all… Read More

March 8, 2023 @ 10:54 pm By JD Alois  |  

Seedrs, a top securities crowdfunding platform owned by Republic, has revealed that it has helped female-founded firms raise £459 million. When you compare this number to the total amount raised on the platform, Seedrs is clearly generating significant traction in leveling the playing field for… Read More

March 8, 2023 @ 6:28 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has charged Green United, LLC, its founder Wright W. Thurston, and a promoter, Kristoffer A. Krohn, with allegedly defrauding investors in connection with an unregistered offering of crypto asset securities. The SEC noted that Krohn is a repeat offencer,… Read More

March 8, 2023 @ 4:55 pm By JD Alois  |  

Silvergate Capital Corporation (NYSE:SI), the holding company for Silvergate Bank, has decided to wind down operations and voluntarily liquidate the Bank in an “orderly manner and in accordance with applicable regulatory processes.” Shares in Silvergate are trading down by over 30% in after-hours trading. Silvergate was… Read More

March 8, 2023 @ 4:20 pm By JD Alois  |  

JP Morgan (NYSE:JPM) has severed its relationship with the Winklevoss brothers crypto platform Gemini, according to a report by Reuters. The article cited a contact that was “familiar with the situation.” At the same time, Gemini is disputing the claim. In a Tweet, Gemini stated… Read More

March 8, 2023 @ 4:07 pm By JD Alois  |  

Coinbase, BitGo Representatives Set to Testify. The Subcommittee on Digital Assets, Financial Technology, and Inclusion, part of the House Financial Services Committee, will hold a hearing tomorrow (March 9, 2023) on digital assets. The title of the hearing is Coincidence or Coordinated? The Administration’s Attack… Read More

March 8, 2023 @ 12:40 pm By JD Alois  |  

Earlier today, the UK Financial Conduct Authority (FCA) announced another enforcement action taken against crypto ATMs. This time, the FCA targeted unauthorized crypto ATMs operating in East London. The FCA requires all crypto firms, including ATMs, to be registered and adherent to anti-money laundering rules…. Read More

March 8, 2023 @ 10:21 am By JD Alois  |  

  Established by the LawtechUK panel, the UK Jurisdiction Taskforce (UKJT) has issued a statement on digital asset clarity, which will “cement” the UK as the digital financial market leader in digital securities. The research was completed in partnership with the finance and economics consultancy… Read More

March 8, 2023 @ 9:57 am By JD Alois  |  

Today, a House Financial Services Committee hearing will see Fed Chair Jerome Powell testifying on monetary policy and the state of the economy. The hearing will be live-streamed on the Committee website starting at 10 AM ET today (March 8, 2023). The hearing is entitled… Read More