March 27, 2023 @ 12:27 pm By JD Alois  |  

Moody’s has distributed a report on deposits held in US banks showing that the Federal Reserve’s H.8 data, which presents an estimate of the weekly aggregate balance sheet for the US banking system, released last Friday (March 24), showed a shift in deposits from small… Read More

March 27, 2023 @ 12:13 pm By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has filed charges against Binance, founder and CEO Changpeng Zhao (known as CZ), and former Chief Compliance Officer Samuel Lim with “numerous violations” of the Commodity Exchange Act (CEA) and other regulations. Filed in the U.S. District Court for… Read More

March 27, 2023 @ 11:53 am By JD Alois  |  

First Citizens BancShares, Inc. (Nasdaq: FCNCA) has entered into an agreement with the Federal Deposit Insurance Corporation (FDIC) to purchase all of the assets and liabilities of Silicon Valley Bridge Bank, N.A. SVB failed earlier this month and was taken over by regulators as its… Read More

March 26, 2023 @ 10:18 pm By JD Alois  |  

The Blockchain Regulatory Certainty Act was introduced last week as a bipartisan act of legislation. The bill seeks to clarify and affirm that blockchain developers and service providers do not custody consumer funds, a realm that is currently opaque. This is the 4th time that… Read More

March 26, 2023 @ 2:02 pm By JD Alois  |  

OurCrowd, one of the largest digital marketplaces providing access to capital for private firms as well as investment opportunity for smaller investors, has signed a Memorandum of Understanding (MoU) with the government of Uruguay. Under the agreement, OurCrowd will partner with the Ministry of Industry,… Read More

March 24, 2023 @ 5:58 am By JD Alois  |  

Moody’s is out with a report on the banking crisis, lauding policymakers for their rapid response. At the same time, the research firm states that stress in the banking sector can spread to other sectors while outlining three different possible paths for contagion. The banking… Read More

March 23, 2023 @ 9:45 pm By JD Alois  |  

Kredivo Holdings, previously operating as FinAccel, has raised $270 million in Series D funding, according to a statement by the company. The funding was led by Mizuho Bank, Ltd., with the participation of Square Peg Capital, Jungle Ventures, Naver Financial Corporation, GMO Venture Partners, and Openspace… Read More

March 23, 2023 @ 7:25 pm By JD Alois  |  

Issuance, a capital raising platform for investment crowdfunding, has partnered with DealPoint, a leading Canadian capital raising platform. DealPoint aims to improve upon the cross-border online investment process for issuers. According to Issuance, DealPoint provides similar technology to their service, which is offered in the… Read More

March 23, 2023 @ 7:13 pm By JD Alois  |  

As part of the deal to reanimate Credit Suisse, Swiss regulators cut a deal with UBS that included writing down the AT1 bonds to zero. Holders are not pleased. In light of the “numerous inquiries,” Swiss regulator FINMA has issued a statement on wiping out… Read More

March 23, 2023 @ 11:57 am By JD Alois  |  

The Wall Street Blockchain Alliance (WSBA) has published a set of “Crypto Industry Principles” that are described as “foundational statements of best practices” for the digital asset sector. WSBA is a non-profit advocacy group that supports the utilization of blockchain technology in financial markets. The… Read More

March 23, 2023 @ 10:14 am By JD Alois  |  

Yesterday, the only publicly traded digital asset exchange, Coinbase (NASDAQ:COIN), announced that it has received a Wells Notice from the SEC indicating there is a high possibility of an enforcement action. Coinbase criticized the move by the SEC, stating that it has attempted to engage with the… Read More

March 23, 2023 @ 10:03 am By JD Alois  |  

The Bank of England’s Monetary Policy Committee has increased its Bank Rate by 25 basis points, echoing the move by the US Federal Reserve, which did the same yesterday. Unlike the Fed, the vote was not unanimous in a 7-2 majority decision. The MPC said… Read More

March 23, 2023 @ 9:13 am By JD Alois  |  

Shares of Block (NYSE:SQ), formerly Square, are plunging in pre-market trading following the release of a report by Hindenburg Research, a noted short seller. Hindenburg is not kind in its assessment of the Fintech, stating their 2-year investigation has concluded that Block has taken advantage… Read More

March 22, 2023 @ 11:03 pm By JD Alois  |  

Roofstock says it has sold another tokenized home. The property is located in Georgia and leveraged RealT – a real estate tokenization service = to assist in the transaction. The settlement was via an NFT sold on OpenSea “enabled by”Roofstock onChain – part of Roofstock…. Read More

March 22, 2023 @ 5:51 pm By JD Alois  |  

Coinbase (NASDAQ:COIN) has posted a statement indicating it has received a Wells Notice from the Securities and Exchange Commission (SEC). A Wells Notice is effectively a heads-up that the SEC is conducting an investigation for any potential infractions. While not a definitive indicator of a looming… Read More

March 22, 2023 @ 4:52 pm By JD Alois  |  

Eight Influencers Charged for Promotion of Digital Assets: Lindsey Lohan, Jake Paul, DeAndrew Cortez Way (Soulja Boy), Austin Mahone, Michele Mason (Kendra Lust), Miles Parks McCollum (Lil Yachty) Shaffer Smith (Ne-Yo), Aliaune Thiam (Akon).   The Securities and Exchange Commission has posted another digital asset… Read More

March 22, 2023 @ 4:19 pm By JD Alois  |  

As widely predicted by market followers, the US Federal Reserve increased benchmark rates by 25 basis points. Not too long ago, prognosticators were vacillating on whether the March meeting would increase rates by 50 bps or 25 bps. The recent bank crises caused the financial… Read More

March 22, 2023 @ 12:10 pm By JD Alois  |  

Green Angel Syndicate (GAS) says its 5th Climate Change Fund has raised a record amount in record time. The fund is said to be almost 2X the prior fund. Green Angel did not disclose the amount of the fund, which is an EIS vehicle, but… Read More

March 22, 2023 @ 11:52 am By JD Alois  |  

The UK delivered some unwanted news today as inflation delivered a number that was hotter than anticipated – bucking a recent downward trend. The UK Office of National Statistics reported that the consumer price index (CPI) increased by an annual 10.4%. This was above expectations… Read More

March 22, 2023 @ 11:36 am By JD Alois  |  

Payments platform Checkout.com has announced a new service offering both physical and digital cards for its customers. The new service was announced at Thrive, Checkout.com’s annual customer event. Clients of the Fintech may now create custom cards while Checkout.com gains another revenue stream. The moves… Read More