January 13, 2023 @ 9:59 am By JD Alois  |  

Goldman Sachs (NYSE:GS) has filed an 8-K with the Securities and Exchange Commission that describes the new divisional structure of the firm that was revealed last year. Last October, Goldman outlined its new reporting structure, which included the following: Asset and Wealth Management Global Banking… Read More

January 13, 2023 @ 8:09 am By JD Alois  |  

In a company update, Crypto.com announced that it has decided to cut its workforce by 20%, joining a litany of Fintechs that have been compelled to reduce costs due to the difficult economy. The company did not provide an exact number of job losses. Kris… Read More

January 12, 2023 @ 6:03 pm By JD Alois  |  

The ongoing virtual fisticuffs between Gemini and Genesis – a subsidiary of Digital Currency Group (DCG), just took a dramatic twist as the Securities and Exchange Commission (SEC) has filed charges against both Gemini and Genesis pertaining to the Gemini Earn program and the sale… Read More

January 12, 2023 @ 5:37 pm By JD Alois  |  

LendingClub (NYSE:LC) has become the latest Fintech to cut costs and reduce employee headcount. According to an SEC filing and release, Lending Club will slash its workforce by 14% or 225 employees while reducing costs and incorporating a reorganization plan. LendingClub said the move was… Read More

January 12, 2023 @ 4:46 pm By JD Alois  |  

Congressman Patrick McHenry, the new  Chair of the House Financial Services Committee, has named the Chairs of the Subcommittees. Yesterday, McHenry revealed the Republican members of the Committee as he moves to take over the influential Committee as the Republican-controlled 118th Congress commences. A new… Read More

January 12, 2023 @ 12:08 pm By JD Alois  |  

Bison Bank, a bank licensed by the Banco de Portugal, has announced a new subsidiary – Bison Digital Assets. The bank states that this is the first virtual asset service provider (VASP) in Portugal operated by a regulated bank. Bison Digital Assets aims to provide… Read More

January 12, 2023 @ 11:54 am By JD Alois  |  

Bitso has become the first digital asset exchange to offer Circle’s Euro-based stablecoin, according to a note from the firm. This means customers may now choose to transact in either US dollars or Euros by leveraging Circle’s digital currency. Bitso offers services in various Latin… Read More

January 12, 2023 @ 10:51 am By JD Alois  |  

iCapital has announced that it will hire 100 employees for the company’s offices in New York, Greenwich, and Lisbon. Capital touted that it is bucking the layoff trend. Capital said the increasing number of employees is due to growing demand from high-net-worth investors seeking alternative… Read More

January 12, 2023 @ 10:27 am By JD Alois  |  

Darren Westlake, CEO and co-founder of Crowdcube, has announced his exit as CEO of the firm he founded in 2012. Westlake created the online investment platform alongside co-founder Luke Lang who exited the firm in 2021. Since its founding, Crowdcube has helped over 1800 offerings… Read More

January 12, 2023 @ 10:13 am By JD Alois  |  

Robinhood (NASDAQ:HOOD), has announced the availability of its new retirement product. The new service was revealed last year, and the digital brokerage launched a waitlist with names now said to be over 1 million customers. Perhaps the most interesting aspect of the retirement product is the… Read More

January 12, 2023 @ 8:47 am By JD Alois  |  

Sam Bankman-Fried, founder and former CEO of FTX – once one of the largest crypto exchanges in the world and now in the midst of bankruptcy, has taken to Substack to pleed his case. Bankman-Fried, now effectively under house arrest, claims that if he had… Read More

January 11, 2023 @ 11:30 pm By JD Alois  |  

In the days when FTX could do no wrong, viewed as the second coming of crypto exchanges, FTX cut a deal to have its brand plastered on the Miami Heat Arena. Stepping in to take over from the august American Airlines in the Spring of… Read More

January 11, 2023 @ 10:55 pm By JD Alois  |  

Butter, a payments Fintech that tackles transaction churn, has raised $22 million in a Series A funding round led by Norwest Venture Partners! Existing investors also participated in the round, including Atomic, Transpose Platform, and Spring Tide Capital. Butter CEO and founder Vijay Menon revealed… Read More

January 11, 2023 @ 9:30 pm By JD Alois  |  

The Consumer Financial Protection Bureau (CFPB) has proposed a rule to establish a public registry of nonbank financial firms’ terms and conditions. The CFPB states that, in some cases, consumer rights are limited or waived, or terms are misleading. The CFPB states that non-banks would… Read More

January 11, 2023 @ 4:16 pm By JD Alois  |  

Ava Labs has partnered with Amazon Web Services (AWS) to boost the adoption of the Avalanche blockchain. Avalanche, created by Ava Labs, is a high-performance distributed ledger technology that aims to be “the fastest, most reliable smart contracts platform in the world.” AWS is the… Read More

January 11, 2023 @ 3:55 pm By JD Alois  |  

Congressman Patrick McHenry, the incoming Chair of the powerful House Financial Services Committee, has announced the Republican members of the Committee for the 118th Congress. McHenry issued the following statement on the Committee members: “I’m proud to welcome all of our new and returning members… Read More

January 11, 2023 @ 12:00 pm By JD Alois  |  

Quasar has raised $5.4m in a bridge round at a $70 million valuation, according to a note from the firm. The funding round was led by Shima Capital alongside returning investors Polychain Capital, Blockchain Capital, HASH CIB, and Osmosis founder Sunny Aggarwal. New investors include… Read More

January 11, 2023 @ 11:49 am By JD Alois  |  

A filing submitted yesterday to the bankruptcy court handling FTX has questioned the involvement of Sullivan & Cromwell as the bankruptcy counsel. The document claims that: “Sullivan & Cromwell is not only an inappropriate candidate for appointment as the FTX Group’s bankruptcy counsel—it is a… Read More

January 11, 2023 @ 10:57 am By JD Alois  |  

The sale of Voyager Digital has received preliminary approval by the courts thus clearing the way for Binance.US to acquire the assets of the bankrupt firm. Revealed last month, Binance.US announced the agreement for it to acquire Voyagers assets for approximately $1 billion. Binance.US’ bid… Read More

January 11, 2023 @ 10:10 am By JD Alois  |  

Windsor First and Currencycloud have announced a partnership on cross-border payments. Windsor First is a Hong Kong-based Fintech that aims to provide dedicated digital payment and remittance solutions for eCommerce and business. Currencycloud is a technology provider for payments and transfers that has processed more… Read More