November 21, 2022 @ 11:20 am By JD Alois  |  

The Canadian Securities Administrators (CSA) has issued a warning on trading crypto assets as they may not be suitable for some investors, “in particular retail investors.” The CSA noted that crypto tends to be a highly volatile asset. The CSA also cautioned that there are… Read More

November 21, 2022 @ 11:10 am By JD Alois  |  

Molten Ventures (LSE: GROW, Euronext Dublin: GRW), a publicly listed VC firm that backs early stage digital firms, has published a 6 month update on performance, ending September 30, 2022. Molten said that its gross portfolio value has declined to £1,450 million versus March at… Read More

November 21, 2022 @ 10:06 am By JD Alois  |  

CYBAVO, a Taiwan-based “infrastructure-as-a-service platform” enabling digital asset custody tech and security services to firms like cryptocurrency exchanges, NFT marketplaces, cryptocurrency wallet providers, and Fintech service providers, has been acquired by Circle. The purchase was completed during Q3 2022 but was previously announced this past… Read More

November 20, 2022 @ 7:07 pm By JD Alois  |  

Fintech Acquisition Corp. V (NASDAQ:FTCV) says it will dissolve and liquidate following an inability to find a merger or acquisition. The special purpose acquisition company (SPAC) was created to find a Fintech to take public. At one point, the company had entered into an agreement… Read More

November 20, 2022 @ 7:01 pm By JD Alois  |  

FTX Trading and the over 100 affiliated entities posted a release yesterday updating on the bankruptcy process. FTX filed for bankruptcy on November 11th following a run on the bank where the company was unable to fulfill redemption requests. It has been widely reported that… Read More

November 20, 2022 @ 4:08 pm By JD Alois  |  

The Autumn Statement delivered by the Chancellor of the Exchequer, Jeremy Hunt, last week included some grim news – including the declaration that the UK economy is in a recession. Fiscal sobriety was the message, a sharp turn from the mini-budget under Truss that caused… Read More

November 18, 2022 @ 5:06 pm By JD Alois  |  

SunGod, a performance sunglasses startup, has rocketed past its funding target almost immediately on Crowdcube.  SunGod reports that it took just 79 minutes to close the funding round. The securities offering went live on November 15th. The offering page indicates that SunGod raised almost £3… Read More

November 18, 2022 @ 4:21 pm By JD Alois  |  

Senator Josh Hawley has sent a letter addressed to Attorney General Merrick Garland, Securities and Exchange Commission (SEC) Chairman Gary Gensler, and Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam, demanding all correspondence between the three federal entities and the Democrat party. Following the bankruptcy of FTX –… Read More

November 18, 2022 @ 3:57 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has commenced administrative proceedings against American CryptoFed DAO LLC. The company is based in Wyoming and was established under the state’s DAO law in July 2021. The Order, available here, outlines the interaction between American CryptoFed and the SEC…. Read More

November 18, 2022 @ 11:51 am By JD Alois  |  

The Securities and Exchange Commission’s regulatory agenda during the current leadership has changed little since it was first revealed in 2021. One item that has been near the top of the list is Reg D “improvements,” including an update to the Accredited Investor definition. Regulation… Read More

November 18, 2022 @ 9:53 am By JD Alois  |  

The reports keep rolling in, highlighting a slowing environment for private firms. Venture capital, along with private equity activity, has been in decline for some time now – a fact that should come as no surprise to anyone. Giga high inflation and the inevitable reaction… Read More

November 17, 2022 @ 7:31 pm By JD Alois  |  

Today, the Securities Commission of the Bahamas issued a statement that it has transferred all assets held by FTX Digital Markets Ltd., to a wallet controlled by the regulator. The Securities Commission said it took control of the assets under its powers as a regulator… Read More

November 17, 2022 @ 5:49 pm By JD Alois  |  

CrowdLustro, a Reg CF and alternative asset aggregation platform, has announced a new feature – a Testing the Waters option for issuers. Under current securities law, Reg CF (Regulation Crowdfunding) securities offerings may “Test the Waters” prior to an official launch of a funding round…. Read More

November 17, 2022 @ 3:53 pm By JD Alois  |  

Fintech specialists, QED Investors, has backed its first company in Indonesia, a Proptech firm Pashouses. The VC firms led the $5 million pre-Series B round. Pashouses is an end-to-end transactional marketplace for buying and selling houses in Jakarta, from brokerage and renovation to staging and… Read More

November 17, 2022 @ 11:27 am By JD Alois  |  

Chancellor of the Exchequer Jeremy Hunt delivered the Autumn Budget today, and once again, there is a bundle of adjustments and announcements aiming to improve the UK economy that is struggling with high inflation, unsustainable energy costs, and a recession. The UK government has already… Read More

November 17, 2022 @ 9:23 am By JD Alois  |  

New FTX CEO John J. Ray has filed a declaration in support of Chapter 11 proceedings, completely slamming the utter incompetence of management in what was once the second-largest crypto exchange in the world. To quote the filing: “Never in my career have I seen… Read More

November 16, 2022 @ 8:42 pm By JD Alois  |  

This week, Jeremy Allaire, CEO of Circle – issuer of a leading dollar-based stablecoin USDC, forwarded a letter to Congressional leaders urging action on stablecoin legislation, providing rules for the industry to develop with surety. Following the collapse of FTX and the collateral damage of… Read More

November 16, 2022 @ 7:01 pm By JD Alois  |  

Revolut, a UK-based neobank with global ambitions, has announced topping 25 million retail customers after reporting 20 million customers this past July. Revolut is a Fintech that offers modern digital banking services minus costly physical locations. The “financial super app” added that its expansion plans… Read More

November 16, 2022 @ 4:38 pm By JD Alois  |  

Sam Bankman-Fried, the disgraced founder and former CEO of FTX, continues to prostrate himself on social media – admitting he has made a huge mess of things. Bankman-Fried, while expressing his contrition, continues to believe he may be able to re-animate the collapsed firm. New… Read More

November 16, 2022 @ 4:16 pm By JD Alois  |  

Online investment platform and venture community AngelList has spun off its jobs service – AngelList  Talent, into a stand-alone company.  The new business has been rebranded as Wellfound. The company said that AngelList Venture is once again called AngelList. AngelList provided some updated metrics with… Read More