December 15, 2022 @ 12:40 pm By JD Alois  |  

This past Tuesday, the House Committee on Financial Services hosted a hearing with a single witness – John J. Ray, III, the new CEO of FTX. Originally, the Committee had scheduled the former CEO of FTX, Sam Bankman-Fried, to testify, but his arrest the day… Read More

December 15, 2022 @ 11:08 am By JD Alois  |  

The European Central Bank (ECB) announced an interest rate increase of 50 basis points today on three key rates following similar decions by the Bank of England and the US Federal Reserve. The goal is to halt persistent inflation, which is decimating economies around the… Read More

December 15, 2022 @ 10:01 am By JD Alois  |  

SPV [Special Purpose Vehicle] platform Assure is calling it quits. Assure aimed to leverage a reduction in cost to creating SPVs by leveraging technology. SPVs are typically utilized for grouping investments in private companies offering a more streamlined legal process in managing the investment. The… Read More

December 15, 2022 @ 9:48 am By JD Alois  |  

ZA Bank has announced a currency exchange service. The digital bank states that the service will incorporate zero handling fees with no additional charges and real-time quotations to offer users a transparent experience. Last month, Wise, a digital currency transfer and payment provider, announced services… Read More

December 15, 2022 @ 9:40 am By JD Alois  |  

The British Business Bank has appointed Eilish Jamieson and Matthew Elderfield as new non-executive Directors (NEDs) to the board of British Business Bank plc, effective from 21 and 22 November 2022, respectively. Jamieson was previously the Head of Audit at Goldman Sachs, where she led… Read More

December 15, 2022 @ 9:21 am By JD Alois  |  

The Bank of England’s Monetary Policy Committee (MPC) has increased its Bank Rate by 50 basis points to 3.5%. According to a statement by the Bank, the MPC vote was 6 to 3, with one member advocating for a 75 basis point increase and two… Read More

December 14, 2022 @ 10:11 pm By JD Alois  |  

Zopa reports that ten more companies have joined the 2025 Fintech Pledge or pledge2025.org, which was launched in September aiming to tackle the UK’s cost-of-living challenge. In brief, the organization as grown to 22 since the last announcement in October. The ten new members are… Read More

December 14, 2022 @ 9:09 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed charges in another case of alleged crypto fraud. This time the “crypto pyramid scheme” apparently targeted the Spanish-speaking community. According to the SEC, Francisley Valdevino Da Silva, Juan Antonio Tacuri Fajardo, Ramon Antonio Perez Arias, and Jose… Read More

December 14, 2022 @ 8:53 pm By JD Alois  |  

The Wall Street Blockchain Alliance (WSBA), an advocacy group for distributed ledger technology, has announced the launch of the Digital Asset Industry Principles. WSBA states that these principles follow the recent events in crypto markets that have challenged the industry. The collaborative effort is described… Read More

December 14, 2022 @ 8:35 pm By JD Alois  |  

SaveLend Group AB, a savings platform for savers to generate yield through credit, such as SME, real estate, consumer credit, and factoring in both SEK and EUR, has announced the outcome of the option redemption. According to a statement by SaveLend,  the company has received… Read More

December 14, 2022 @ 4:46 pm By JD Alois  |  

As expected, the US Federal Reserve raised benchmark interest rates by 50 basis points bringing the target range for the federal funds rate to 4-1/4 to 4-1/2 percent. The vote for 50 bps was unanimous. This is the 7th interest rate increase in the past… Read More

December 14, 2022 @ 11:35 am By JD Alois  |  

The Senate Banking Committee hearing on FTX, taking place today, has extended the discourse on the collapse of what was once one of the largest crypto exchanges in operation. While not involving any current FTX employees, testimony and perspective are being provided by four different… Read More

December 14, 2022 @ 11:01 am By JD Alois  |  

Raisin, a global Fintech that offers a marketplace for savers as well as other services, has reached $30 billion in assets under management (AUM). This includes surpassing $1 billion in AUM in the US, operating under the SaveBetter brand. According to a statement by the… Read More

December 14, 2022 @ 10:42 am By JD Alois  |  

WisdomTree has announced nine new registered digital funds. Access to these new funds is expected to be via WisdomTree Prime, WisdomTree’s digital wallet application, currently in beta, with its planned public launch for Q1 2023. The digital funds utilize the Stellar blockchain. Each digital fund… Read More

December 14, 2022 @ 9:48 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed fraud charges against eight influencers pertaining to a $100 million securities fraud plot. Simultaneously, criminal charges have been leveled at the individuals by the Department of Justice’s Fraud Section and the U.S. Attorney’s Office for the Southern… Read More

December 14, 2022 @ 9:37 am By JD Alois  |  

Algorand has been selected to support a digital guarantees platform in Italy. Algorand is a proof-of-stake blockchain that is designed to provide more efficient transactions. The new platform is expected to become operational in early 2023 and is described as the first time an EU… Read More

December 14, 2022 @ 8:30 am By JD Alois  |  

In a blog post, Tether announced its intent to reduce secured loans to zero during 2023. Along with the announcement, Tether stated that its current secured loans are overcollateralized and covered by extremely liquid assets. The statement follows a claim published on WSJ.com that said… Read More

December 13, 2022 @ 4:44 pm By JD Alois  |  

This afternoon, the US Attorney’s Office for the Southern District of New York held a press conference discussing the indictment of Sam Bankman-Fried, the one-time CEO of FTX and now the alleged perpetrator of one of the largest frauds in history. As the details emerge,… Read More

December 13, 2022 @ 1:01 pm By JD Alois  |  

Versana has launched a syndicated loan platform, connecting banks, institutional lenders, and service providers to the $5 trillion market. Founding investors in Versana include, JP Morgan, Bank of America, Citi, and Credit Suisse. Versana was originally created to address intrinsic inefficiencies in the US leveraged… Read More

December 13, 2022 @ 12:13 pm By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has filed a complaint in the US District Court for the Southern District of New York against Sam Bankman-Fried, FTX, and Alameda Research. The CFTC complaint charges the defendants with fraud and material misrepresentations in connection with the sale… Read More