June 16, 2021 @ 10:51 am By JD Alois  |  

The House Committee on Financial Services already has two current task forces addressing innovation in financial services. A Task Force on Fintech and a Task Force on Artificial Intelligence. Today, the Committee is adding a “Working Group” addressing Digital Assets. Congresswoman Maxine Waters (D-CA), Chairwoman… Read More

June 16, 2021 @ 10:27 am By JD Alois  |  

SoFi (NASDAQ:SOFI), a leading Fintech that recently went public in a SPAC deal, has received a positive analyst report due to the company’s potential to disintermediate old financial services firms. According to multiple reports, Rosenblatt has given SoFi a $30 price target for the Fintech…. Read More

June 16, 2021 @ 9:54 am By JD Alois  |  

EquityNet, an online capital formation platform that lists securities offerings in private firms, has announced a flat-fee subscription service to assist issuers seeking funding on their platform. EquityNet typically lists securities under Reg D 506c – available to accredited investors. According to a release, EquityNet’s in… Read More

June 15, 2021 @ 4:30 pm By JD Alois  |  

Fintech startup Expend has topped its £500,000 goal on Seedrs and currently stands at over £820,000 from 433 individual investors. Expend previously raised capital from angel investors as well as a prior crowdfunding round. The offering is for a 4.01% equity stake in Expend at… Read More

June 15, 2021 @ 11:11 am By JD Alois  |  

Wise, formerly doing business as Transferwise, is to complete a direct listing on the London Stock Exchange (LSE) according to reports. Wise, a global Fintech and stealth bank, is a leading provider of global transfers and payments. The site was launched in recognition of the… Read More

June 15, 2021 @ 10:00 am By JD Alois  |  

The US investment crowdfunding industry received a boost this year as the Securities and Exchange Commission (SEC) adjusted the securities exemptions that platforms and issuers utilize to raise growth capital online. Along with other improvements, key changes include the adjustment of Reg CF (Regulation Crowdfunding)… Read More

June 15, 2021 @ 8:23 am By JD Alois  |  

INX Limited, a digital platform that provides trading for crypto and digital securities, has acquired ILS Brokers Ltd (ILSB) based in Israel. According to a company release, ILSB is an interdealer-broker with over 50 tier-1 and tier-2 global bank relationships focusing on OTC trading of… Read More

June 15, 2021 @ 8:08 am By JD Alois  |  

ShareIn, a platform as a service provider enabling online capital formation, sees “stellar growth” in investors seeking out investments that match their beliefs. ShareIn can power online investment platforms for interest-focused firms looking to support environmental infrastructure, Shariah-compliant finance for SMEs, charities, as well as… Read More

June 15, 2021 @ 4:00 am By JD Alois  |  

Crypto exchange Change is reporting having closed a £3.7 million securities crowdfunding at a post-money valuation of £175 million. According to the company’s website, investors had three options to participate in the firm: a securities offering on Funderbeam Purchase CNG tokens that gives you equity… Read More

June 14, 2021 @ 11:16 pm By JD Alois  |  

On June 15th, the House Financial Services Committee, Task Force on Financial Technology (Fintech) will hold a hearing on central bank digital currency (CBDCs). Entitled, Digitizing the Dollar: Investigating the Technological Infrastructure, Privacy, and Financial Inclusion Implications of Central Bank Digital Currencies, the hearing will dive… Read More

June 14, 2021 @ 3:37 pm By JD Alois  |  

SEC Chairman Gary Gensler has selected Renee Jones as the Director of Corporate Finance and John Coates as General Counsel. Jones is a Professor of Law and Associate Dean for Academic Affairs at Boston College Law School. Previously, she represented private and public companies on… Read More

June 14, 2021 @ 12:31 pm By JD Alois  |  

Following the revelation of the regulatory agenda for the Securities and Exchange Commission (SEC) under the leadership of Chair Gary Gensler, two Commissioners have issued a statement criticizing the list of rules and regulations the Commission is expected to tackle in the coming months. Additionally,… Read More

June 14, 2021 @ 11:42 am By JD Alois  |  

Kabbage, an online lending Fintech that was acquired by American Express (NYSE:AXP) has announced the launch of “Kabbage Checking,” said to be the first business checking account offered by American Express and built for U.S. small businesses. To help encourage uptake of the new service,… Read More

June 14, 2021 @ 10:15 am By JD Alois  |  

MicroStrategy (Nasdaq:MSTR) , an analytics software firm that has emerged as a publicly traded Bitcoin proxy, has announced the completion of a sale of $500 million in secured notes with an annual coupon of 6.125%. The notes were sold in a private placement and come… Read More

June 14, 2021 @ 8:27 am By JD Alois  |  

Last week, the Securities and Exchange Commission (SEC) issued a complaint alleging that Edgar M. Radjabli, of Boca Raton, Florida, and for engaging in securities frauds that involved the offering of a digital asset – Apis Tokens. According to the SEC complaint, Radjabli – who… Read More

June 13, 2021 @ 7:00 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has outlined its regulatory agenda for the coming months and at the top of the list are exempt securities that include Reg D and perhaps other exemptions such as Reg CF and Reg A+. Of note, is that the… Read More

June 12, 2021 @ 10:25 am By JD Alois  |  

Hello Alice, a platform for helping small businesses grow their businesses, has raised $21 million in a Series B funding round led by QED Investors. Founded by Elizabeth Gore and Carolyn Rodz, the company has now raised $30 million in funding. Speaking with Crunchbase, Rodz… Read More

June 11, 2021 @ 11:38 am By JD Alois  |  

StartEngine, a leading investment crowdfunding platform, says it surpassed all other funding portals during the month of May for Reg CF funding volume. In March of 2021, the Securities and Exchange Commission increased the funding cap for issuers using the Reg CF securities exemption to… Read More

June 11, 2021 @ 9:48 am By JD Alois  |  

Recently El Salvador announced its intent to adopt Bitcoin as legal tender in the country. The legions of crypto supporters rapidly embraced the move while detractors grumbled that transacting in Bitcoin is a slow and costly process that makes little sense as a currency for… Read More

June 10, 2021 @ 5:18 pm By JD Alois  |  

Affirm (NASDAQ:AFRM) has expanded its relationship with Shopify by making “Shop Pay Installments eligible to all US merchants and powered by Affirm’s credit platform. In a blog post, Affirm founder and CEO Max Levchin said they were thrilled to support these unique merchants: “One in… Read More