JD Alois

Stablecoins + TradFi: Dakota Raises $12.5 Million Series A

Dakota, a Fintech described as a “crypto-integrated business banking platform,” has announced a $12.5 million Series A funding round. The funding was led by CoinFund, with participation from 6th Man Ventures (6MV) and Triton Ventures. The new money is expected to be used for accelerating… Read More

Inflation in Line at 0.3%, Annual Rate at 2.7%

The US Bureau of Labor Statistics released June CPI numbers today, revealing an inline report for the month at 0.3%. The annualized rate stands at 2.7% – substantially higher than the US Federal Reserve’s target rate of 2%. At the same time, real average hourly… Read More

EquityZen Describes Gangbuster Circle IPO as Harbinger for Private Markets

Secondary marketplace for private securities EquityZen is out with a note on Q2 activity. The company stated that Circle’s successful initial public offering on Nasdaq kicked off a resurgence in private securities activity. EquityZen shared that investors on their marketplace were able to access  Circle… Read More

The Clarity Act Currently Scheduled for Wednesday Vote, Genius Act Expected to Follow on Thursday

Crypto week is happening in Washington, DC, and several bills are in the queue for a House vote. The Clarity Act (HR 3633), the legislation that aims to provide guidance on how different digital assets are regulated and which agency has oversight, is expected to… Read More

Top Democrat Representative Maxine Waters Slams Crypto Legislation as Written By and For Crypto Industry

With the CLARITY Act and the GENIUS Act on deck this week for House approval, Maxine Waters, the Ranking Member on the House Financial Services Committee, has posted an Op-ed slamming these bills as little more than legislation for and written by the crypto industry…. Read More

The Anti CBDC Surveillance State Act: One Pager Explanation

The Anti-CBDC Surveillance State Act (HR 1919) is one of the crypto-related acts of legislation that is expected to be approved by the House of Representatives this week and then soon become law. A CBDC is a central bank digital currency that is issued by… Read More

Checkout.com Expands into Canada

Checkout.com, a UK-based Fintech, is expanding its footprint with an expansion into Canada. The company is already operating in the US. The company added that it has also had a leadership “refresh.” Zack Levine has been appointed as Head of Revenue for North America (NORAM)…. Read More

SEC Commissioner Hester Peirce Tells Certain Token Issuers to Come in and Chat

Last week, SEC Commissioner Hester Peirce issued a statement on tokenization and the firms are pursuing digital assets that are deemed to be securities. Commissioner Peirce is leading the SEC’s Crypto Task Force, which is caucusing with industry participants to help craft rules that support… Read More

American Fintech Council Issues Comment on Open Banking, Access to Data and “Emerging Barriers”

The American Fintech Council has issued a statement commenting on emerging barriers to consumer data access. The statement addresses the sector of Open Banking and providing consumer control over their data and the ability to leverage the information to improve financial services. For example, simplifying… Read More

Crypto Week: the CLARITY Act, GENIUS Act Up for Vote Next Week, Bitcoin Rising

Both the Clarity Act and the GENIUS Act are expected to be up for a floor vote, after which the legislation will move to the President’s desk to be signed into law. The Republican controlled Congress has delivered on its promise to create rules for… Read More

UK Economy Sinks Again. Pressures Increases on Labour Government

UK GDP has dropped once again, defying expectations of a slight increase in the month of May. ONS reports that the monthly real gross domestic product (GDP) fell by 0.1% in May. This follows a decline in April of 0.3%. While monthly services output grew… Read More

AI: Gradient Labs Raises $13 Million Series A, Targets Highly Regulated Industries

Gradient Labs has raised $13 million in Series A funding in a round led by Redpoint Ventures, with participation from Localglobe, Puzzle Ventures, Liquid 2 Ventures, and Exceptional Capital. Gradient Labs was founded by Gradient Labs was co-founded by Dimitri Masin, Neal Lathia, and Danai… Read More

DealMaker Reports Over $116.5 Million in Q2

DealMaker, a tech-infused broker-dealer specializing in online securities offerings, reports that its platform raised $116.5 million during Q1. This entailed 107 different securities offerings under the full stack of exemptions, including Regulation A (Reg A), Regulation D (Reg D), and Regulation Crowdfunding (Reg CF). Over… Read More

Fundrise’s Innovation Fund Available on SoFi Platform

Fundrise’s Innovation Fund (INNOX), a Reg A securities offering that enables access for retail investors for well-known private firms, will be made available on the SoFi (NASDAQ:SOFI) platform. This move should boost investor access to the fund, which does not trade on an exchange and… Read More

Fundrise Talks Up Innovation Fund Providing Retail Access to Private Securities, Throws Shade at Competitor

Fundrise founder and CEO Ben Miller visited with CNBC this week to discuss the growing business of providing retail access to private securities typically issued under the Reg D exemption. Reg D requires an investor to be deemed “Accredited” – earning over $200,000 a year… Read More

BNY to Provide Custody for Ripple’s Stablecoin RLUSD

The Bank of New York Mellon Corporation (BNY) (NYSE: BK)will provide custody for Ripple’s dollar-based stablecoin RLUSD. Congressional legislation providing clarity on the regulation of payment stablecoins is expected to be passed into law soon. This will mean the banks will feel more comfortable providing… Read More

Cambridge Centre for Alternative Finance Publishes Report on Open Banking in APAC Countries

The Cambridge Centre for Alternative Finance (CCAF) has published a report on Open Banking in APAC countries. The research covers 16 different jurisdictions and the status of Open Banking development across the region. Open Banking, also known as Open Finance, refers to the ability to share data… Read More

Nasdaq Private Markets Promotes Several Former Executives from Competitor EquityZen

Nasdaq Private Markets recently lured two EquityZen executives to join their burgeoning private securities trading marketplace. EquityZen is a top marketplace for providing trading in private shares. According to a statement issued by Nasdaq, Mike Buono previously led the institutional investment sales desk at EquityZen. He… Read More

Trump Media Files for “Blue Chip” Crypto ETF

Trump Media (Nasdaq, NYSE Texas: DJT), the company that operates Truth Social and is affiliated with President Donald Trump, has filed for a “Crypto Blue Chip ETF” according to a statement by the company. Trump Media previously revealed its intent to pursue an ETF. The… Read More

UK Financial Conduct Authority Penalizes Digital Bank Monzo with £21 Million Fine [U]

Monzo, a top UK-based digital bank, has been hit with a penalty of £21,091,300 for “inadequate anti-financial crime systems and controls.” In a public statement the UK Financial Conduct Authority said the infratctions took place between October 2018 and August 2020. The FCA stated that… Read More

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