July 29, 2022 @ 2:58 pm By JD Alois  |  

The Federal Deposit Insurance Corporation (FDIC), the government agency that provides bank deposit insurance, has taken the unique act of publicly chastising Voyager Digital regarding claims of false statements on deposit insurance status. Voyager Digital filed for bankruptcy protection following the collapse of  Three Arrows… Read More

July 29, 2022 @ 12:17 pm By JD Alois  |  

The Competitive Enterprise Institute (CEI), a non-profit DC think tank that advocates on behalf of free markets, has published a paper on stablecoins as well as central bank digital currencies. While CBDCs are state-managed digital currencies, perhaps utilizing blockchain technology, stablecoins are issued and managed… Read More

July 29, 2022 @ 9:36 am By JD Alois  |  

Singapore based Zipmex has filed for insolvency under Singapore law. According to a blog post, Zipmex attorneys have filed five applications under Section 64 of Singapore’s Insolvency, Restructuring and Dissolution Act 2018 on behalf of several of the firm’s entities, aiming to gain global moratoriums… Read More

July 28, 2022 @ 10:06 pm By JD Alois  |  

Smartphones have become the operating systems of our existence. Today, you need your iPhone or Android phone to accomplish many different tasks, including managing money. This also includes the growing number of crypto and neo-banking Apps. Yesterday, Sherrod Brown, a Democrat Senator from Ohio who… Read More

July 28, 2022 @ 7:09 pm By JD Alois  |  

Ratings agency Fitch is out with commentary on the buy now – pay later (BNPL) sector that is cautious on the new form of credit. According to Fitch: “BNPL is likely to face increased challenges from growing competition, higher funding costs and credit deterioration, as… Read More

July 28, 2022 @ 6:58 pm By JD Alois  |  

StartEngine, one of the largest securities crowdfunding platforms in the US, has surpassed $5 million in funding for its newest self-crowdfunded offering, according to an email. StartEngine has pursued multiple Reg A+ offerings in recent years to raise growth capital. In total, StartEngine has raised… Read More

July 28, 2022 @ 2:55 pm By JD Alois  |  

Nomad has raised $22.4 million in a Seed round that closed in April, backed by well-known investors. Coinbase Ventures, OpenSea, Crypto.com Capital, Wintermute, Gnosis, Algaé, and Polygon all participated in the round. Nomad’s mission is to create a safer crypto ecosystem where blockchains can communicate… Read More

July 28, 2022 @ 2:36 pm By JD Alois  |  

Open Banking (or Open Finance) provider MX has appointed former PayPal executive Jim Magats as its new CEO, effective August 17, 2022. Magats will also join the MX Board of Directors. Ryan Caldwell, founder and Executive Chairman of the Board of Directors, MX, issued the… Read More

July 28, 2022 @ 12:21 pm By JD Alois  |  

What is a digital asset? Well, that depends on who you ask. These questions become important when it comes to things like tax treatment, securities law, ownership,  etc. The UK Law Commission is out with proposed changes for the treatment of digital assets, including NFTs… Read More

July 28, 2022 @ 10:01 am By JD Alois  |  

The US Economy delivered a second-quarter of GDP decline, an event that has historically determined that an economy is in recession. The US Department of Commerce, Bureau of Economic Analysis (BEA), reported that Q2 2022 GDP declined by -0.9%. This follows a Q1 decline of… Read More

July 28, 2022 @ 9:40 am By JD Alois  |  

Quasar Finance, a Cosmos-based DeFi project, has raised $6 million from big-name blockchain VCs including Polychain Capital, Blockchain Capital, Figment Capital, Lightshift Capital, and Galileo. Quasar CEO and co-founder Valentin Pletnev aims to make digital assets “simple, accessible and secure, while utilizing the Cosmos platform’s… Read More

July 28, 2022 @ 9:30 am By JD Alois  |  

Crypto exchange Okcoin is reporting a 125% increase in institutional trading from Q1 to Q2 2022. Okcoin said this is the fourth consecutive quarter that institutional transactions more than doubled from the prior quarter. Institutional customers jumped by 13% in Q2 and 28% for the… Read More

July 28, 2022 @ 8:14 am By JD Alois  |  

Zodia Markets, a crypto exchanger and brokerage catering to institutional investors, has been registered as a crypto platform with the UK Financial Conduct Authority (FCA) and officially launched its crypto trading business. In the UK, a crypto exchange must be registered with the FCA to… Read More

July 27, 2022 @ 10:25 pm By JD Alois  |  

Digital securities marketplace ADDX has listed a private credit fund managed by Helicap Investments. Helicap Fund I is the flagship fund of the company and it is designed to promote financial inclusion in South East Asia, according to a company statement. The Fund aims to… Read More

July 27, 2022 @ 7:41 pm By JD Alois  |  

In the past week, CI has reported on the enforcement action initiated by the Securities and Exchange Commission (SEC), involving a former Coinbase (NASDAQ:COIN) manager and two partners regarding allegations of insider trading. According to the SEC’s complaint, non-public information was accessed prior to release,… Read More

July 27, 2022 @ 5:41 pm By JD Alois  |  

The Small Business and Entrepreneurship Council (SBE Council) has long championed entrepreneurship in Washington, DC. Founded in 1994, the SBE Council claims over 100,000 members. Its mission is to educate and advocate on behalf of these smaller firms – which typically do not have the… Read More

July 27, 2022 @ 4:41 pm By JD Alois  |  

  LendingClub (NYSE:LC) has announced Q2 financial results reporting that both top-line revenue and net income are improving. According to the digital bank, Q2 delivered record revenue of $330 million, fueled by interest income along with loan marketplace revenue. Net income was solid at $182.1… Read More

July 27, 2022 @ 3:48 pm By JD Alois  |  

The Securities and Exchange Commission (SEC), Small Business Capital Formation Advisory Committee (SBCFAC) has scheduled a meeting to discuss the topic of crowdfunded securities, under Reg CF and Reg +, and liquidity. The SBCFAC is a group of industry leaders that advise the Commission on… Read More

July 27, 2022 @ 12:56 pm By JD Alois  |  

Bitso, a Latin American crypto exchange, has facilitated the transfer of Argentian football (soccer) player to São Paulo FC’ Bitso states that this is the first such transfer to take place with midfielder Giuliano Galoppo signing with the São Paulo club, completed with crypto, and… Read More

July 27, 2022 @ 12:47 pm By JD Alois  |  

Fiserv, Inc. (NASDAQ: FISV), an old-school Fintech that has been offering services since about 1984, reported earnings that beat analyst expectations. Shares in Fiserv have responded positively to the news, trading higher at around $104 today, having traded at about $97 at the beginning of… Read More