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FTX to Buy BlockFi for $240 Million, Plus $400 Million Credit Facility

FTX, the trading platform founded by CEO Sam Bankman-Fried, has agreed to purchase BlockFi for up to $240 million, along with providing a $400 million credit facility. FTX had previously provided BlockFi access to a $250 million credit line when things started to go sideways…. Read More

European Union Agrees on Markets in Crypto Assets (MiCA) Regulation: “Will shape the digital asset ecosystem for years to come”

The European Union has agreed on crypto-asset regulation under the Markets in Crypto Assets (MiCA) legislation. According to tweets distributed by Member of European Parliament (MEP) Stefan Berger, Europe will be the first continent with crypto asset regulation as the European Parliament, European Commission and… Read More

Bitcoin ETF Denied: Grayscale’s Attempt to Offer BTC ETF Blocked by SEC

Grayscale’s most recent attempt of migrating Bitcoin-based GBTC, traded on OTC Markets, to an exchange-traded fund (ETF), has been denied. In an Order posted by the SEC yesterday, the Commission disapproved a proposed rule change that would have allows the spot Bitcoin ETF to trade… Read More

Digital Bank Volt Fails, Will Return Banking License

Volt, a high-profile digital bank operating in Australia, has taken the extraordinary measure of announcing it will close its business, and return its banking license to regulators. In a post on the digital bank’s website Volt announced: “Volt has made the difficult decision to close… Read More

Cambridge Centre for Alternative Finance Publishes Fintech Report, Reviews Industry Resilience During Time of COVID

The Cambridge Centre for Alternative Finance (CCAF), part of the University of Cambridge in the UK, along with the World Economic Forum and the World Bank, have published the Global COVID-19 Fintech Impact and Industry Resilience Study. CCAF has long been the leading research institute reviewing… Read More

Securitize, a Digital Securities Marketplace, Expands Into Europe as it Enters Spain’s Fintech Sandbox

Securitize, a security token issuance platform and digital security trading market, has announced its expansion into Europe. Securitize has been approved by the Spanish General Secretariat of the Treasury and International Finance to enter its experimental program or Fintech sandbox where Securitize will serve a… Read More

What Are Opponents Saying About the SECs Push to Demand Climate Risk Disclosures?

The Securities and Exchange Commission (SEC) has proposed ESG rules that may compel public firms to disclose climate risks that may impact the environment. The rule proposal was accepting comments from interested parties up until this past week with a deadline of June 17th. While everyone… Read More

Dalmore Group, Broker of Record, Comments on Ongoing, Successful Boxabl Securities Crowdfunding Offer

Boxabl is currently raising capital on two different investment crowdfunding platforms: StartEngine and Republic. As was previously reported, Boxabl is aiming to raise up to $1.07 billion in a Reg D – Reg A+ funding round. The funding is divvied up with a $500 million Reg… Read More

BlockFi Receives $250 Million Credit Facility from FTX

FTX, a leading global crypto exchange, has provided BlockFi with a $250 million revolving credit line to backstop the firm during a broad decline in crypto markets. In a series of tweets, BlockFi founder and CEO Zac Prince revealed the funding that will stabilize the… Read More

Proptech Firms Redfin, Compass Cut Employees as Housing Market Cools

Compass (NYSE: COMP), a digital real estate listing platform, and Redfin (NASDAQ: RDFN) a similar platform have both slashed employee headcount as the economy teeters on the brink of recession. Redfin is cutting employees by 8% while Compass is reducing jobs by 10%. The two… Read More

Italy Can’t Decide Which Agency Will Regulate Securities Crowdfunding Under New EU Rules

In November of 2021, the European Union announced pan-European securities crowdfunding rules. While there are still certain details being worked out, effectively an issuer may now list a security on an online investment platform and raise capital across all EU member states. European Crowdfunding Service… Read More

House Republicans Tell SEC to Rescind Proposed Climate Reporting Requirements as it Exceeds the Commission’s Authority

House Republicans have sent a letter to the Chairman of the SEC Gary Gensler telling him to halt his pursuit of proposed climate disclosure rules as over-stepping the statutory responsibilities of the Commission. In the letter, signed by 129 Republicans led by the top Republican… Read More

Darren Sandler, Republic Crypto Lead Counsel: The Responsible Financial Innovation Act is a Big Step in the Right Direction

Earlier this month, US Senators Kirsten Gillibrand and Cynthia Lummis revealed their long-anticipated legislation aiming to provide a clearcut regulatory regime for the digital asset industry. The language of the bill represents a comprehensive approach for crypto including digital securities, stablecoins, and more while selecting… Read More

PayPal Expands BNPL Offering as Apple Pay Later Challenges Incumbents

PayPal (NASDAQ:PYPL) announced today a new buy now – pay later (BNPL) offering “PayPal Monthly.” The expanded credit offering arrives just after Apple (NASDAQ:AAPL) announced Apple Pay Later, a BNPL that allows users to easily pay for a purchase with 4 payments during a 6… Read More

Boxabl Cross Lists Offering on StartEngine and Republic at $3 Billion Valuation

Investment crowdfunding is not just for smaller funding rounds and Boxabl is an excellent example of that. Boxabl is aiming to raise a whopping $1.07 billion at a valuation of $3 billion and it is leveraging two securities crowdfunding platforms to help with part of… Read More

What Slowdown? Binance, Kraken are Still Hiring While Others Slash Employee Headcount

Multiple Fintechs have recently announced layoffs due to the faltering economy and rising interest rates. Most people are predicting a recession – one that could be long and hard. Due to the current economic malaise and forward expectations, companies like Coinbase, BlockFi, and others have… Read More

Coinbase to Slash Employees by 18% – “We grew too quickly”

Coinbase (NASDAQ:COIN), the largest crypto exchange in the US and the first to float shares on an exchange, has announced it will reduce employee headcount by 18%. This announcement follows previous statements of a hiring freeze. Currently, Coinbase has around 4900 employees indicating that over… Read More

Celsius Halts All Withdrawals as Crypto Markets Drop Below Below $1 Trillion

There is a rush for the exits in the crypto markets it seems. Yesterday, Celsius – a “new economy” digital asset platform that provides services similar to banks but with crypto, announced it was halting all withdrawals, transfers, and swaps due to the collapsing market…. Read More

LendingClub CEO Scott Sanborn: We Are Taking Big Banks Most Profitable Customers

LendingClub Bank: Well Positioned for the Future. Recently, Fintech Nexus (formerly known as LendIt Fintech) held its annual event in New York City. Hundreds of Fintechs showed up for the in-person event that spanned the spectrum of innovative financial services. From blockchain to online capital… Read More

Apple Pay Later to be Managed by Apple, Advised by Goldman with More Fintech Coming

Apple Pay Later, Apple’s (NASDAQ:AAPL) entry into the buy now – pay later sector (BNPL), will be managed directly by an Apple subsidiary according to multiple reports. The news of the BNPL product was revealed during the WWDC keynote address earlier this week representing a… Read More

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