February 2, 2021 @ 9:21 pm By JD Alois  |  

SocietyOne, an Australian marketplace lending platform, says it has topped $1 billion in online lending in January. SocietyOne notes that it launched a secured lending product in December and said the month generated a record amount of originations. The secured product first completed a pilot… Read More

February 2, 2021 @ 3:29 pm By JD Alois  |  

Yesterday, loandDepot filed an updated S-1 with the Securities and Exchange Commission as it bumped up its share price to $21 for a forthcoming initial public offering (IPO) that may raise a gross amount of over $362 million. According to the document, loanDepot is offering… Read More

February 2, 2021 @ 10:46 am By JD Alois  |  

Digital asset exchange Gemini has launched a new interest-earning program called “Gemini Earn.” According to the company, Gemini Earn allows customers to earn up to 7.4% APY on cryptocurrencies. Crypto investors may earn interest on cryptocurrencies via the Gemini platform and the product is available… Read More

February 2, 2021 @ 10:11 am By JD Alois  |  

Curve, a UK based Fintech providing banking services, has named Cuong Do as an independent Board director, according to a note from the company. Do was most recently President of the Samsung Global Strategy Group, where he was responsible for developing and executing enterprise-wide strategy and… Read More

February 2, 2021 @ 8:57 am By JD Alois  |  

LendingClub (NYSE:LC) just closed on the acquisition of Radius Bancorp as it morphs from an online lender to a full-stack digital bank. Today, a shelf registration statement has popped up outlining the terms of the deal that reveals the shares-cash purchase price. LendingClub previously disclosed… Read More

February 2, 2021 @ 8:22 am By JD Alois  |  

Payments Fintech PayU has partnered with Silverflow, a cloud-based payments processing startup, to offer Payment Service Providers (PSPs) a new card acquiring process. According to a release, by combining Silverflow’s direct connection to the card networks with PayU’s acquiring capabilities, the two companies will improve… Read More

February 1, 2021 @ 8:37 pm By JD Alois  |  

Digital asset firm Arca has announced two appointments, according to a company release.  Arca reports that Vance Sanders has joined the company as Chief Financial Officer and Chief Compliance Officer, and Nikesh Dalal has joined as Head of Product for Arca’s innovation division, Arca Labs…. Read More

February 1, 2021 @ 8:24 pm By JD Alois  |  

CoAssets, an early entrant in the investment crowdfunding sector that once saw its shares trade on the Australian Stock Exchange (ASX), is being investigated by government authorities in Singapore following the news the company was shutting down. Earlier this month, CoAssets issued the following statement:… Read More

February 1, 2021 @ 6:32 pm By JD Alois  |  

Representative Maxine Waters, Chairwoman of the House Committee on Financial Services, has scheduled a hearing to address the trading in Gamestop shares as well as the broader issue of market volatility. The hearing, entitled “Game Stopped? Who Wins and Loses When Short Sellers, Social Media,… Read More

February 1, 2021 @ 6:22 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed charges against Kristijan Krstic, founder of Start Options and Bitcoiin2Gen, and John DeMarr, said to be the primary U.S.-based promoter for these companies, for fraudulently induced investors to buy digital asset securities. The complaint states that Krstic… Read More

February 1, 2021 @ 3:19 pm By JD Alois  |  

Senator Elizabeth Warren has sent a letter to the US Securities and Exchange Commission demanding answers to several questions regarding the heightened volatility pertaining to the recent short-squeezes ostensibly created by Redditors focusing on hedge funds with heavy short positions. Senator Warren said the price… Read More

February 1, 2021 @ 2:22 pm By JD Alois  |  

Shanghai based Bianjie has launched the “first open permissioned blockchain in China’s Blockchain-based Service Network (BSN), according to the company. WenChang blockchain is said to be powered by Cosmos’ interoperable blockchain ecosystem, WenChang is described as low-cost, user-friendly, open blockchain that allows developers to deploy… Read More

February 1, 2021 @ 1:44 pm By JD Alois  |  

Robinhood has raised $3.4 billion in capital from Ribbit Capital, CONIQ Capital, Andreessen Horowitz, Sequoia, Index Ventures, and NEA. The additional funding is a solid sign of commitment by investors as Robinhood struggles in light of heightened volatility of shares like Gamestop driven by Reddit… Read More

February 1, 2021 @ 9:36 am By JD Alois  |  

Presearch, a decentralized search engine, is now live and available for all users. Presearch is a search alternative to the dominant platform Google. Presearch also aggregates the diverse universe of search options to offer a user a wide range of alternatives when looking for information…. Read More

February 1, 2021 @ 8:49 am By JD Alois  |  

LendingClub (NYSE:LC) has completed the acquisition of Radius Bancorp, according to a public release. Scott Sanborn, CEO of LendingClub, issued the following statement: “This is a historic day for LendingClub and a true watershed moment for the industry. The move to digital-first banking is accelerating,… Read More

January 29, 2021 @ 3:02 pm By JD Alois  |  

Mambu, a cloud banking service provider that powers the likes of N26, ABN AMRO, OakNorth and more, says it experienced a 100% year over year growth in 2020. The rapid rise of Mambu was driven by the 26 financial institutions that signed up for Mambu’s… Read More

January 29, 2021 @ 1:14 pm By JD Alois  |  

On January 26th, S3 Partners reported that GameStop (NYSE:GME) short-sellers were down around $5 billion. In just a few days, that amount may have grown a bit larger. According to the blog post by S3: “GME short interest is $5.51 billion; 71.79 million shares shorted;… Read More

January 29, 2021 @ 10:43 am By JD Alois  |  

Yesterday, it was reported that Bittrex quickly listed tokenized securities representing GameStop and AMC Entertainment. Today, Bittrex is expanding this list taking advantage of trading demand for highly shorted shares that have been targeted by certain forums like Wallstreetbets on Reddit. Bittrex is out with… Read More

January 29, 2021 @ 9:18 am By JD Alois  |  

Robinhood CEO and founder Vlad Tenev visited with CNBC last night professing that actions taken to mitigate trading in GameStop (NYSE:GME) was to protect Robinhood as well as its users. Tenev’s decision to shut down purchases of GME was joined by outrage, not just by… Read More

January 28, 2021 @ 5:05 pm By JD Alois  |  

Robinhood appears to be making things worse instead of better in its attempt to manage trading in highly shorted securities like GameStop and AMC entertainment. Crowdfund Insider has just received an email from Blind regarding a survey of Robinhood users indicating that a whopping 76%… Read More