Uncategorized

June 25, 2020 @ 5:27 pm By JD Alois  |  

LendingClub (NYSE:LC) has published a blog post and affiliated 8-K updating on platform performance during a challenging market pummeled by COVID-19. During the last earnings report, LendingClub reported loan originations down in April by a whopping 90%. Today’s missive is a bit more optimistic as… Read More

May 27, 2020 @ 9:35 am By JD Alois  |  

ZUBR, a digital asset platform to arbitrage using derivatives, has received “in-principle” approval from the Gibraltar Financial Services Commission (GFSC) to be authorized as a Distributed Ledger Technology (DLT) provider. ZUBR targets a more sophisticated user that may use algorithmic trading. ZUBR’s client-base is said to… Read More

May 5, 2020 @ 12:48 pm By JD Alois  |  

EstateGuru, an online marketplace for loans secured by property, has quickly topped its minimum crowdfunding hurdle on Seedrs. EstateGuru set a minimum raise of €350,000 but as of today, the Fintech has raised over €483,000 from 548 individual investors. EstateGuru is hoping to raise €2… Read More

May 3, 2020 @ 5:24 pm By JD Alois  |  

Last Thursday, a letter posted on the Russian website of SmartLab said that Telegram will offer GRAM purchasers the option to receive their money back as the deadline for the issuance of the tokens had passed. Telegram has been in an ongoing legal battle with… Read More

April 15, 2020 @ 12:45 pm By JD Alois  |  

The Paycheck Protection Program (PPP), one of the elements of the CARES Act designed to help the US SME sector that has been demolished by the COVID-19 pandemic, has been lauded in its intent but criticized in its execution. Confusion continues as banks struggle to… Read More

April 8, 2020 @ 8:07 pm By JD Alois  |  

The Securities and Exchange Commission has announced that it is providing temporary, conditional exemptive relief for business development companies (BDCs) to enable them to make additional investments in small and medium-sized businesses. The SEC pointed out that this included firms affected by COVID-19. BDCs invest… Read More

April 6, 2020 @ 2:40 pm By JD Alois  |  

Mintos, a global loan marketplace claiming over a quarter of a million investors, is pursuing both a investment firm license and an e-money institution license, according to a release from the company. Mintos has applied to the Financial and Capital Market Commission (FCMC) in Latvia… Read More

April 6, 2020 @ 1:06 pm By JD Alois  |  

Two law firms, Roche Cyrulnik Freedman and Selendy & Gay, have jointly filed 11 class actions against well-known crypto exchanges. The lawsuits also include accusations of “manipulative conduct” by Bitmex. The allegations were filed in the Southern District of New York against four crypto exchanges… Read More

February 19, 2020 @ 12:00 pm By JD Alois  |  

Openfinance, a registered alternative trading system (ATS) that is trading marketplace for digital assets, has announced the listing of Lottery.com‘s LDCC token. The digital asset is available for all US investors – not just accredited individuals. LDCC is the security token offered by Lottery.com. The… Read More

February 6, 2020 @ 1:37 am By JD Alois  |  

Schroders, Johan H. Andresen through his investment house Ferd, the Fintech Collective, and more have invested in global tech accelerator Antler. Founded in 1804, Schroders is a global investment management company that currently manages £444.4 billion and employs over 5,000 people worldwide in 32 locations… Read More

January 21, 2020 @ 12:58 pm By JD Alois  |  

OurCrowd, the leading global investment crowdfunding platform and Israel’s leading venture investor, is out with a note on some of its exits in advance of the OurCrowd Global Investor Summit taking place in February, Israel’s largest tech conference and the largest equity crowdfunding event in… Read More

January 17, 2020 @ 4:43 pm By Samantha Hurst  |  

AvidXchange, a U.S. fintech that provides accounts payable and automated payment solutions to midsize businesses, announced on Friday it has raised $260 million in equity capital as part of the company’s latest financing round. With contributions from TPG Sixth Street Partners and other leading investors, this brings… Read More

January 16, 2020 @ 3:07 pm By JD Alois  |  

On January 13th, Visa (NYSE: V) announced it had purchased the Fintech Plaid as the old school credit card rails company seeks to boost its innovation cred. Visa paid a whopping $5.3 billion to acquire Plaid – a nice exit for early investors. Al Kelly,… Read More

January 14, 2020 @ 2:44 pm By Cali Haan  |  

The US Securities and Exchange Commission’s (SEC’s) Investor Education and Advocacy division is warning the public that, because both Initial Exchange Offerings (IEOs) and the platforms selling them may be unregistered and unregulated, investing in IEOs may be high risk- and not much different than… Read More

December 19, 2019 @ 7:34 pm By JD Alois  |  

The President of the North American Securities Administrators Association (NASAA), Christopher W. Gerold, has issued a statement regarding the Securities and Exchange Commission’s (SEC) proposal to modernize and improve the definition of an accredited investor. NASAA is the advocacy and lobbying group that represents state… Read More

December 4, 2019 @ 8:58 pm By JD Alois  |  

“Banking partner for SMEs” Kapilendo is issuing its first blockchain-based digital bond. According to the Germany based crowdfunding platform, FR L’Osteria SE, a “gastronomy concept” is issuing a tokenized bond using blockchain tech. Kapilendo is a debt-based crowdfunding platform that caters to Mittelstand companies by… Read More

November 27, 2019 @ 12:57 am By JD Alois  |  

US Deputy Secretary of the Treasury Justin Muzinich delivered a speech this week where he addressed the emerging landscape of digital currencies. Muzinich commented on the “broader innovation trends that are shaping our banking and financial system.” Muzinich said: “While banks today provide a range… Read More

November 13, 2019 @ 11:05 am By JD Alois  |  

The Independent Community Bankers of America (ICBA) has issued a statement of “strong support” regarding pending legislation targeting Industrial Loan Charters (ILC). An ILC is a regulated financial services charter that may be held by non-financial institutions. ILCs may hold FDIC insured deposits – a… Read More

November 6, 2019 @ 10:25 am By JD Alois  |  

CrowdStreet, a real estate crowdfunding platform, has raised $12 million in a Series C funding round from its “community of individual  investors and commercial real estate sponsors.” CrowdStreet leveraged its own platform to raise the growth capital. CrowdStreet also reported that it is on track… Read More

November 1, 2019 @ 2:36 pm By Cali Haan  |  

A Switzerland-based securities dealer called XBT Corp/First Global Credit has been charged and fined by the American SEC and CFTC for, “selling unregistered security-based swaps to U.S. investors using bitcoins and for failing to transact its swaps on a registered national exchange.” The company’s website has… Read More