April 5, 2019 @ 8:28 am By JD Alois  |  

Peer to peer lender Crowdstacker has appointed former RBS Senior Corporate Director, Ken Hillen, as Chairman of its Credit Committee. The move comes following a report that Crowdstacker had facilitated a loan to Burning Night Group in the amount of £7.5 million. Burning Night went… Read More

April 4, 2019 @ 8:30 am By JD Alois  |  

JP Morgan Chase CEO Jamie Dimon is out with his annual shareholder letter, a missive that is widely read not only for its insight into the future of JPM but for Dimon’s thoughts on other issues. As one would expect, Dimon covered a wide swath… Read More

April 4, 2019 @ 7:30 am By JD Alois  |  

Canada may be a smaller market but it has a robust, highly sophisticated economy and a vibrant Fintech sector. Toronto, the financial center of the country, is home to dozens of Fintechs including payment firms, online lending, AI, wealth management, blockchain and more. Yet while… Read More

April 4, 2019 @ 7:13 am By JD Alois  |  

Affirm, a Fintech founded by vaunted entrepreneur Max Levchin, has raised a $300 million series F funding. To date, Affirm has raised over $800 million in equity funding. The round was led by Thrive Capital and involved several new investors including Fidelity Management and Research… Read More

April 4, 2019 @ 7:03 am By JD Alois  |  

CABIM Ltd, the parent company of Crown Agents Bank has acquired Segovia, a US-based payments firm. In a release, Crown Agents Bank said the purchase will enable it to extend its payment network, including mobile money, and integrate Segovia’s payments infrastructure with Crown Agents Bank’s… Read More

April 3, 2019 @ 11:22 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has published a statement on the “Framework for ‘Investment Contract’ Analysis of Digital Assets” The public statement announcing the Framework was co-signed by Bill Hinman, Director of Division of Corporation Finance and Valerie Szczepanik, Senior Advisor for Digital Assets… Read More

April 3, 2019 @ 11:05 am By JD Alois  |  

The Securities and Exchange Commission (SEC), Division of Corporate Finance, has issued its first No-Action letter pertaining to the issuance of a token that is considered not to be a regulated security. The response was engendered by a request by attorney James Curry, on behalf… Read More

April 3, 2019 @ 10:11 am By JD Alois  |  

Last month, the Securities and Exchange Commission (SEC) forwarded a letter to the Investment Adviser Association requesting feedback on digital assets and custody. Beyond the public inquiry, the letter is indicative of the Commission’s ongoing interest and research into blockchain based securities. The letter from… Read More

April 2, 2019 @ 6:00 pm By JD Alois  |  

Recently Crowdfund Insider was in communication with Securities Attorney Joe Nesler who posts regularly on his law firm’s web site pertaining to issues regarding crypto and securities law. A post by Nessler from last November touched upon reporting requirements under 12g and digital assets. CI… Read More

April 2, 2019 @ 4:38 pm By JD Alois  |  

Overstock (NASDAQ:OSTK) subsidiary tZERO has announced that Elliot Grossman has been appointed Chief Executive Officer (CEO) of its “upcoming broker-dealer affiliate.” tZero may be described as the crux of Overstock’s blockchain initiative. The platform seeks to act as the fulcrum to its primary issuance and… Read More

April 2, 2019 @ 3:08 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has charged the founder and former chief executive mobile payment Fintech Jumio with defrauding investors. The former CEO of Jumio, Daniel Mattes, has agreed to pay more than $17 million to settle the charges. Mattes is also a “business… Read More

April 2, 2019 @ 12:00 pm By JD Alois  |  

TrustToken has launched its next stablecoin: TrueGBP. The crypto is backed 1-for-1 with the British Pound Sterling. TrustToken’s first stablecoin was the US dollar backed TrueUSD. TrueUSD is listed on exchanges including Binance, OKEx, DigiFinex, Bittrex, and Huobi TrueGBP, just like TrueUSD, will provide monthly… Read More

April 2, 2019 @ 11:12 am By JD Alois  |  

Charles Randell, Chair of the Financial Conduct Authority, has forwarded a letter to Rt Hon. Nicky Morgan MP, Chair of the Treasury Select Committee on London Capital & Finance. The document addressed concerns regarding the issuance of mini-bonds and investor protection concerns – more specifically… Read More

April 2, 2019 @ 8:46 am By JD Alois  |  

Revolut, one of the most promising digital challenger banks in the world, was whacked once again by a report by the BBC which largely rehashed prior claims associated with compliance and anti-money laundering control. According to the report, the BBC communicated with a former Revolut… Read More

April 2, 2019 @ 7:59 am By JD Alois  |  

Is Bitcoin back? That depends on who you talk to. The worlds most popular cryptocurrency, at least by market cap, is hovering around USD $5000 for the first time in months. Just a few days ago, Bitcoin was closer to $4000. The increase in price… Read More

April 1, 2019 @ 11:09 pm By JD Alois  |  

According to a report in the Vancouver Sun, Vanbex, formerly doing business as Etherparty Smart Contracts, has been hit with a lawsuit launched by the British Colombia Civil Forfeiture Office. The report alleges that Vanbex and its two founders, Lisa Cheng and Kevin Hobbs, were… Read More

April 1, 2019 @ 10:31 pm By JD Alois  |  

Singapore-based Fintech Koku has raised $2 million in a pre-series A round backed by Jason Zeng, co-founder of Tencent Holdings and founder of Chinese angel investment company Decent Capital. Kokue said it expects to raise USD $10 million in a series A round during the… Read More

April 1, 2019 @ 8:07 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) filed an administrative proceeding today against Mutual Coin Fund LLC and Usman Majeed. The fund submitted a Reg D to the SEC in late 2017. According to the Mutual Coin Fund website, the fund apparently invested in “relatively stable… Read More

April 1, 2019 @ 6:00 pm By JD Alois  |  

SyndicateRoom is a top investment crowdfunding platform in the UK – one of the “big three”. The platform was co-founded by former schoolmates Gonçalo de Vasconcelos and Tom Britton who met while completing their  MBA at Cambridge Judge Business School. The idea was simple enough:… Read More

April 1, 2019 @ 5:13 pm By JD Alois  |  

A report in WSJ.com is running the comps regarding initial coin offerings (ICOs) from Q1 of 2019 versus the same quarter of 2018 and the contrast is rather grim. According to data gleaned from TokenData, in the first three months of 2019 only $118 million… Read More