March 12, 2021 @ 10:57 am By JD Alois  |  

While there is a good amount of discourse regarding the risk of digital assets and the ability for bad actors to use crypto to launder money or perhaps finance illicit activities FinCEN recently indicated their attention in a more tactile direction. Earlier this week, FinCEN… Read More

March 12, 2021 @ 10:01 am By JD Alois  |  

Ant Group CEO  Simon Hu has resigned from the Fintech according to multiple reports. Ant Group has seen its trajectory diminish in recent months following the decision of securities regulators to halt a pending initial public offering. Some reports linked the halted IPO to comments… Read More

March 11, 2021 @ 1:40 pm By JD Alois  |  

The Securities and Exchange Commission has issued a warning on SPACs and “celebrity involvement.” Emanating from the SEC’s Office of Investor Education and Advocacy (OIEA)  the agency cautions investors not to invest in SPACs based solely on celebrity involvement. To quote the SEC: “Celebrities, from… Read More

March 11, 2021 @ 11:21 am By JD Alois  |  

The Canadian Securities Administrators (CSA) has provided guidance on disclosure provided by issuers of crypto assets. The CSA is a group that represents provincial securities regulators. In Canada, there is no federal agency overseeing the securities sector. According to the CSA, in Canada, most crypto-asset… Read More

March 11, 2021 @ 11:08 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed an emergency action and obtained a temporary restraining order and asset freeze against Shawn C. Cutting. The SEC alleges that Cutting raised millions of dollars by falsely claiming to be a financial adviser with securities licenses, overstating… Read More

March 11, 2021 @ 10:30 am By JD Alois  |  

Beeple’s the First 5000 Days has sold for $69,346,250 on Christie’s today. The NFT (non-fungible token) represents a record for digital art and as one Tweet reports one of the most expensive art auctions of all time. According to the Lot Essay, in May 2007,… Read More

March 11, 2021 @ 9:59 am By JD Alois  |  

Digital Currency Group (DCG) the parent company of Grayscale Investments, has authorized the purchase by DCG of up to $250 million worth of shares of Grayscale Bitcoin Trust (OTCQX: GBTC). The purchase by DCG will be made on the open market, at management’s discretion, and… Read More

March 11, 2021 @ 9:22 am By JD Alois  |  

BlockFi, a digital asset platform that is on a mission to bridge old finance and crypto, has raised a huge $350 million Series D funding round. The new money was led by big-name investors including Bain Capital Ventures, partners of DST Global, Pomp Investments and… Read More

March 10, 2021 @ 10:14 pm By JD Alois  |  

A new trade group has been launched to advocate on behalf of the Fintech industry. Today, the Financial Technology Association (FTA), is hoping to educate stakeholders and support the modernization of financial regulation. Founding members of the group are Afterpay, Betterment, Brex, Carta, Figure, Marqeta,… Read More

March 10, 2021 @ 5:28 pm By JD Alois  |  

Symbridge, a digital asset exchange for institutional traders and accredited investors, has hired David Josse, a former Goldman Sachs executive, as its Chief Technology Officer (CTO), according to a release. Symbridge is not quite live and operating in alpha mode. Symbridge says it combines blockchain… Read More

March 10, 2021 @ 4:34 pm By JD Alois  |  

LendingClub (NYSE: LC), an online lender and nascent digital bank, has announced financial results for Q4 2020 and the full year ending December. According to a release, LendingClub’s adjusted net loss was $(22.1) million in the fourth quarter, compared to adjusted net income of $7.0… Read More

March 10, 2021 @ 1:09 pm By JD Alois  |  

The number of FINRA regulated funding portals continues to move higher in advance of the increase in the funding cap of Regulation Crowdfunding (Reg CF). On March 15, 2020, it is expected that issuers will be able to raise $5 million using Reg CF –… Read More

March 10, 2021 @ 11:17 am By JD Alois  |  

Akemona is a FINRA regulated funding portal that will offer securities under Reg CF. Akemona intends on offering securities that are smart contract-based digital assets using blockchain technology. Recently, Akemona and Tritaurian Capital announced FanMint, a digital securities issuance platform that is said to be compliant… Read More

March 10, 2021 @ 10:30 am By JD Alois  |  

Judith Hartley, CEO of British Patient Capital, has distributed feedback on the just-published British Business Bank Small Business Finance Markets Report. Hartley believes that while unicorns are an indicator of success that many firms never achieve unicorn status yet still deliver strong returns. Hartley says… Read More

March 10, 2021 @ 9:47 am By JD Alois  |  

Insurtech Zego says it has raised $150 million at a $1.1 billion valuation thus emerging as the UK’s first Insurtech unicorn. Zego is an automobile insurance provider for businesses, from entire fleets of vehicles to self-employed drivers and riders. Zego believes that the problem with traditional… Read More

March 10, 2021 @ 9:36 am By JD Alois  |  

Passion Capital, an early-stage tech VC firm, has listed its Passion Capital Fund III on Seedrs. Registered investors on the Seedrs platform will have the opportunity to invest in the £45 million fund. Seedrs reports that this partnership is the first time a Europe-based private… Read More

March 10, 2021 @ 9:13 am By JD Alois  |  

Property finance marketplace LendInvest has enlisted Jumio to streamline LendInvest’s digital application process for its Buy-to-Let (BTL) product.  According to a note from LendInvest, the company will now incorporate Jumio’s biometric ID verification technology to speed up the lending process. LendInvest says this partnership makes… Read More

March 10, 2021 @ 9:00 am By JD Alois  |  

FrontFundr, a private markets investment platform in Canada, and The51, a “Financial Feminist platform” that seeks to foster access to capital for women-led businesses, have launched a new pilot program where early-stage companies will be featured on both platforms. The two organizations hope to address… Read More

March 10, 2021 @ 8:23 am By JD Alois  |  

The British Business Bank reports a surge in SME lending with 89% of businesses seeking funding in 2020 because of Covid-19. The Bank’s Small Business Finance Markets report states that 45% of SMEs surveyed applied for financing in 2020 in contrast to just 13% in… Read More

March 10, 2021 @ 1:00 am By JD Alois  |  

Top global investment platform OurCrowd has appointed Dr. Hasanat Dewan as Chief Innovation Officer.  Simultaneously, OurCrowd announced a Global AI (artificial intelligence) Innovation Center at an undetermined location. According to OurCrowd, Dr. Dewan will oversee the development and deployment of OurCrowd’s next-generation platform, supporting a… Read More