June 13, 2022 @ 9:36 am By JD Alois  |  

The Securities and Exchange Commission (SEC) charged three Charles Schwab investment adviser subsidiaries for allocating client funds in a manner that their own internal analyses showed would be less profitable for their clients under most market conditions. Schwab has agreed to pay $187 million to… Read More

June 13, 2022 @ 8:23 am By JD Alois  |  

Changpeng Zhao (CZ), founder and CEO of Binance – the world’s largest crypto exchange has tweeted that Binance has “temporarily” halted withdrawals of Bitcoin. CZ said the pause was due to a technical glitch and all funds were safe – adding that things should be… Read More

June 13, 2022 @ 8:11 am By JD Alois  |  

There is a rush for the exits in the crypto markets it seems. Yesterday, Celsius – a “new economy” digital asset platform that provides services similar to banks but with crypto, announced it was halting all withdrawals, transfers, and swaps due to the collapsing market…. Read More

June 12, 2022 @ 4:03 pm By JD Alois  |  

This past week some employees of Coinbase (NASDAQ:COIN)posted Operation Revive COIN, a petition to oust Coinbase COO Emilie Choi, Chief Product Officer Surojit Chatterjee, and Chief People Officer LJ Brock. The demands are apparently driven by their disappointment with Coinbase’s performance, even though the entire… Read More

June 12, 2022 @ 3:43 pm By JD Alois  |  

Abra has announced a partnership with American Express (NYSE:AXP) to offer a card that provides for crypto rewards. Similar to traditional perks, the Abra Crypto Card will allow users to get crypto back on any purchase on the American Express Network. Abra is accepting emails… Read More

June 12, 2022 @ 3:32 pm By JD Alois  |  

An official with the Bank of Canada has issued a warning about Canadians investing in crypto. In a statement this past week by the Bank on the Financial System Review (FSR), the government cautioned about risks including fast-rising interest rates, and geopolitical challenges while touching… Read More

June 11, 2022 @ 5:05 pm By JD Alois  |  

  loveelectric.cars has received over £1 million in seed funding along with a Scottish EDGE prize. The Edinburgh-based Fintech provides low cost leased electric company cars. The cost of leasing through loveelectric.cars is said to be around 50% less than if the car were leased… Read More

June 11, 2022 @ 4:55 pm By JD Alois  |  

creditshelf, an online lender providing access to capital for SMEs in Germany, has boosted its forward guidance slightly. Last quarter, creditshelf reported a 10% increase in lending volume and revenue growth of 43% or € 2,366,000 in the first quarter of 2022 vs the prior-year… Read More

June 10, 2022 @ 8:11 pm By JD Alois  |  

YAS MicroInsurance (YAS) and Amodo have partnered to deliver insurance on-chain, according to a company statement. YAS is an Asia-Pacific Insurtech that is combining blockchain technology and insurance. Amodo is a telematics company providing on-demand insurance that is hyper-localized and usage-based insurance. The two firms… Read More

June 10, 2022 @ 5:35 pm By JD Alois  |  

Inflation continues to rocket higher with no end in sight. Today, the US Bureau of Labor Statistics reported that prices rose by1% in May driving the annual rate of inflation to 8.6% – a 40-year high. All prices are going up but perhaps most acutely… Read More

June 10, 2022 @ 3:07 pm By JD Alois  |  

Serai, an HSBC-founded venture based in Hong Kong that offered a B2B supply-chain platform, has shut down. The move was foreshadowed in an executive change last month when Vivek Ramachandran, formerly CEO of Seria, was appointed as Head of Global Trade and Receivables Finance (GTRF)… Read More

June 10, 2022 @ 2:48 pm By JD Alois  |  

LendingClub Bank: Well Positioned for the Future. Recently, Fintech Nexus (formerly known as LendIt Fintech) held its annual event in New York City. Hundreds of Fintechs showed up for the in-person event that spanned the spectrum of innovative financial services. From blockchain to online capital… Read More

June 10, 2022 @ 10:57 am By JD Alois  |  

Huobi Global has announced the creation of Ivy Blocks, a subsidiary that will invest in early-stage blockchain ventures in the DeFi and Web3 space. Huobi said in a corporate statement that its “multi-billion dollar war chest” will allow Ivy Blocks to gain access to unique… Read More

June 10, 2022 @ 9:33 am By JD Alois  |  

  Proportunity, a mortgage enabler for home buyers, is planning to raise growth capital on Seedrs. Proportunity is an interesting financing platform as it provides part of the capital needed to purchase a home. As prices rise along with inflation, Proportunity can provide an alternative… Read More

June 10, 2022 @ 9:17 am By JD Alois  |  

Unstoppable Domains and Blockchain.com have announced a collaboration that will provide .blockchain NFT domains to their users. The two companies explain that in the coming weeks, 83 million Blockchain.com Wallet users will be able to get a free .blockchain domain from the Blockchain.com Wallet. For… Read More

June 10, 2022 @ 8:28 am By JD Alois  |  

Crowdcube, one of the largest investment crowdfunding platforms in Europe, has shared some insight into May’s platform performance. In a Tweet, Crowdcube reported that 27,265 investors committed over £28 million during the month. Moneybox topped the list of investments garnering 15,461 investors contributing almost £6.4… Read More

June 9, 2022 @ 11:11 pm By JD Alois  |  

Anchorage, a federally chartered digital asset bank, has revealed an “industry-first” of having their custody exchange integrated with Binance.US. Anchorage said that 4 other platforms have committed to the service as well including CoinList, Blockchain.com, Wintermute, and Strix Leviathan. In a blog post, Anchorage explained… Read More

June 9, 2022 @ 3:26 pm By JD Alois  |  

Fraud and scams will always persist. While the game largely remains the same the methods will change and adapt as technology allows. The cat and mouse process continues with bad actors looking to part honest money from good people and evade immediate detection. Meanwhile, there… Read More

June 9, 2022 @ 11:54 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has posted a notice that the United States Court of Appeals for the Second Circuit has affirmed a district court order requiring compliance with investigative subpoenas served by the Commission on Terraform Labs Pte Ltd and Do Kwon – based… Read More

June 9, 2022 @ 11:43 am By JD Alois  |  

The Competitive Enterprise Institute (CEI), a free market-focused think tank that supports innovation in financial services, has posted a comment letter forward to Senator Patrick Toomey, ranking member of the Senate Banking Committee and advocate of the JOBS Act 4.0. Earlier this year on the… Read More