January 23, 2023 @ 9:56 am By JD Alois  |  

Both public and private markets have been hammered. If you are an optimist, everything is on sale. For larger Fintechs, typically publicly traded, this may create an opportunity to scoop up competitors or complementary technologies on the cheap. A report by S&P Analysis says that… Read More

January 23, 2023 @ 9:29 am By JD Alois  |  

In a move that should come as no surprise – except for the delay in moving forward on the strategy – the big banks that helped to found Zelle are creating their own digital wall, according to a report. The seven banks, including Citi, Bank… Read More

January 22, 2023 @ 10:49 pm By JD Alois  |  

The British Business Bank has agreed to an initial £175 million “ENABLE Guarantee” for DF Capital, a subsidiary of Distribution Finance Capital Holdings plc. DF Capital received its banking license in September 2020. Headquartered in Manchester, DF Capital is a commercial lending and personal savings… Read More

January 22, 2023 @ 10:14 pm By JD Alois  |  

The Crowdfunding Professional Association (CfPA) has announced that Rebecca Kacaba, Etan Butler, and Andrew Savikas have agreed to join its board of directors. At the same time, the CfPA has revealed an updated strategic plan focused on the growth of the industry. Kacaba is the… Read More

January 22, 2023 @ 3:59 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has charged Avraham Eisenberg, a 27-year-old U.S. citizen who was arrested and detained at MDC Guaynabo, Puerto Rico, with attempting to manipulate MNGO tokens – the native token of Mango Markets. Eisenberg is expected to appear before the Southern… Read More

January 20, 2023 @ 4:23 pm By JD Alois  |  

  Wefunder has distributed a Tweet noting that it led the pack in regard to Regulation Crowdfunding (Reg CF) funding during 2022. Reg CF is a securities exemption that allows an issuer (company) to raise up to $5 million in an online investment offering. Both… Read More

January 20, 2023 @ 3:56 pm By JD Alois  |  

The US Federal Reserve is said to be investigating Goldman Sachs (NYSE:GS)  and their consumer operations – specifically consumer lending, according to a report. The news follows a difficult earnings report by Goldman that is being described as its worse earnings miss in a decade.  Goldman’s… Read More

January 20, 2023 @ 12:17 pm By JD Alois  |  

Faace founder Jasmine Wicks-Stephens says more female entrepreneurs are turning to securities crowdfunding. Citing research by the European Investment Bank (EIB), Wicks-Stephens notes that female entrepreneurs secured just 1% of venture capital last year – even though female founders tend to perform well, failing less… Read More

January 20, 2023 @ 7:35 am By JD Alois  |  

Late last night, Genesis, part of the Digital Currency Group (DCG), filed for Chapter 11 bankruptcy protection as it looks to restructure in light of a challenging environment in the crypto sector which has impacted multiple firms. Genesis is a digital asset prime brokerage that… Read More

January 19, 2023 @ 5:27 pm By JD Alois  |  

Beleaguered crypto firm Nexo has had to pony up a $45 million penalty following charges filed by the Securities and Exchange Commission (SEC). Without admitting or denying the SEC’s findings, Nexo agreed to a cease-and-desist order. Nexo had previously announced its exit from the United… Read More

January 19, 2023 @ 4:44 pm By JD Alois  |  

EquityZen founder and Chief Strategy Officer Phil Haslett is seeing a pick up in the secondary market, which can be seen as a precursor to traditional IPOs, according to an email from the firm. EquityZen is a top secondary trading platform for private securities. Since its… Read More

January 19, 2023 @ 12:39 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has charged Caroline Ellison, the former CEO of Alameda Research, and Zixiao (Gary) Wang, the former Chief Technology Officer of FTX Trading Ltd. (FTX), for their part in the “multi-year scheme” to commit fraud in regards to FTX, once… Read More

January 19, 2023 @ 12:18 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed a litigation release regarding allegations that Sam Bankman-Fried defrauded equity investors in FTX. The U.S. Attorney’s Office for the Southern District of New York and the Commodity Futures Trading Commission (CFTC) have also announced charges against Bankman-Fried…. Read More

January 19, 2023 @ 9:46 am By JD Alois  |  

Spanish Fintech MONEI is reporting that it has received the “green light” from the Bank of Spain’s Fintech Sandbox to launch a digital Euro –  “EURM.” MONEI is a platform that aims to simplify and streamline digital payments, allowing any organization to integrate with Shopify… Read More

January 19, 2023 @ 9:29 am By JD Alois  |  

October, a European marketplace lending platform providing access to capital for SMEs, has received a €35 million commitment from the European Investment Fund (EIF) and Netherlands-based Invest-NL. The capital is split between the two entities with the EIF providing €20 million and Invest-NL the rest… Read More

January 19, 2023 @ 9:06 am By JD Alois  |  

  Jamie Dimon has returned to CNBC bashing crypto once again. In an interview at Davos, the CEO of JP Morgan (NYSE:JPM) was asked about Bitcoin and cryptocurrency. Dimon said he wondered out loud why CNBC spent so much time on crypto, calling Bitcoin a… Read More

January 18, 2023 @ 8:34 pm By JD Alois  |  

Zelle, a payments and transfers service that was created by multiple big banks, has been having some issues today, according to multiple posts on Twitter. While Zelle has not issued a press statement reassuring users it is on top of things, it appears that Zelle… Read More

January 18, 2023 @ 4:42 pm By JD Alois  |  

“Fueled a high-tech axis of cryptocrime.” The US Department of Justice (DOJ) has announced the arrest of Anatoly Legkodymov, 40, a Russian national who resides in Shenzhen, China, as the founder and operator of Bitzlato, a crypto exchange the feds have alleged to have processed… Read More

January 18, 2023 @ 12:13 pm By JD Alois  |  

StartEngine, a leading US-based investment crowdfunding platform, is reporting that it raised $33.9 million during Q4 2022 under the Reg A+ (Regulation A) and Reg CF (Regulation Crowdfunding) exemptions. StartEngine added that this surpassed its two largest competitors. According to StartEngine, Wefunder raised $23.9 million,… Read More

January 18, 2023 @ 11:46 am By JD Alois  |  

Payoneer Global Inc. (NASDAQ: PAYO) has announced a new Chief Financial Officer. According to a corporate statement, Bea Ordonez  – currently the Deputy CFO – will replace current CFO Michael Levine, who will step down in March. Ordonez will then report to Payoneer co-CEO John… Read More