Tagged: perspective

Senate Hearing for Saule Omarova as Comptroller of the Currency Shows Challenging Path to Approval

  Saule Omarova testified in front of the Senate Banking Committee today and the challenging questions did not just come from Republican members as several Democrats queried the aspiring bank regulator with difficult queries as well. Omarova, a Cornell Law professor born in the former… Read More

Lessons From StartEngine’s 1st Successful $5 Million Reg CF Campaign

When it comes to small businesses and startups, funding is crucial. It’s also one of the most difficult steps in the entrepreneurial journey. Why? Because nine out of 10 startups fail within a decade of forming, and financial problems are one of the main culprits…. Read More

Comptroller of the Currency Michael Hsu Says Regulation is Too Fragmented When it Comes to Fintech, Crypto Firms

Acting Comptroller of the Currency Michael Hsu delivered a compelling speech today during a presentation at the American Fintech Council, Fintech Policy Summit. The AFC largely represents digital and neo-banks as well as non-bank lenders. Hsu recently spoke at a Blockchain Association event where he… Read More

Three Trends that We predict Will Shape Investment Crowdfunding in 2022

Investment crowdfunding took off when the JOBS Act regulation went into effect back in 2016 and has become a booming industry in short order. We saw some significant regulatory changes in March of this year, with the Securities and Exchange Commission (SEC) confirming capital formation… Read More

Following Gangbuster Quarter, Shares in Digital Bank LendingClub Move Dramatically Higher

LendingClub (NYSE:LC) reported solid quarterly results yesterday that solidly beat earnings estimates. Earnings per share (EPS) came in $0.26 when estimates were expecting less than half of that. Following the news, shares rallied significantly higher and in pre-market trading, LendingClub shares are currently trading up… Read More

$3.5 Trillion Social Spending Bill Includes Section Banning Private Securities from Retirement Accounts, May Impact Investment Crowdfunding

  Earlier this month, John Berlau, a Senior Fellow at the Competitive Enterprise Institute (CEI), wrote an article discussing the controversial $3.5 trillion social spending bill that is currently stuck in the US Senate due to intraparty disagreements. While initially pitched as “infrastructure” or “reconciliation”… Read More

Florida and Texas are Becoming the New Entrepreneur/Startup Hubs as Firms Leave the Northeast and California

As more and more firms flee the Northeast and California, several states are benefiting from this exodus of talent and innovation. Texas and Florida are at the top of the list due to low taxes, a business-friendly government, and, of course, beautiful weather. On the… Read More

Perspective: What to Learn from Solana’s Scalability Glitch

The 17-hour outage has exposed a critical design flaw and grossly exaggerated TPS claims.   On September 14 at 12:38 PM UTC, Solana announced that it had encountered a denial-of-service [DoS] disruption caused by a surge in transaction loads, reaching as high as 400,000 attempted… Read More

SEC Chairman Gensler Grilled by Republicans on Senate Banking Committee, Ranking Member Toomey Supports Regulatory Clarity for Crypto

SEC Chairman Gary Gensler marched up to Capitol Hill yesterday to testify in front of the Senate Banking Committee in a hearing entitled “Oversight of the U.S. Securities and Exchange Commission”.  Gensler outlined his ambitions at the SEC in his prepared remarks. While Gensler received… Read More

How to Revolutionize the Private Capital Markets

In 2010, venture capital investors poured $21.8 billion into startups. Fast forward a decade to 2020 when well over 500 “supergiant” funding rounds of $100 million+ were raised, totaling $142 billion. In early 2021, even as global economies fought to shake off the effects of… Read More

Perspective: Crypto Should Divorce From the Progressive Movement

Progressives should love cryptocurrency, the latest innovation that brings power to the people. Turns out, they don’t. Perhaps surprisingly, it is precisely because crypto circumvents the corporate, permissioned, speech-controlled online world that angers progressives. Crypto threatens to nix not just the corporation but also the… Read More

UK Crowdfunding Association Comments on FCA Dear CEO Letter Sent to Platforms

Two weeks ago, the UK Financial Conduct Authority posted a “Dear CEO” letter directed at investment crowdfunding platforms. The letter, signed by Debbie Gupta, Director of Consumer Investments Supervision, cautioned platforms on both the risk of investments being offered to investors as well as the… Read More

Venture Capital and the Art of the Deal: More of the Same

Imagine a Baskin Robbins where you can get any flavor you want, as long as it is vanilla. Based on recent data provided by the National Venture Capital Association in partnership with Aumni, the market for venture capital deal terms seem to be that kind… Read More

Binance Not Capable of Being Supervised by the UK FCA: Two Attorneys Comment

Earlier today, the UK Financial Conduct Authority posted the “First Supervisory Notice” related to a statement by the FCA in June that Binance Markets Limited is not permitted to undertake any regulated activity in the UK. Binance Markets is part of the Binance Group. Binance… Read More

Biden Administration Plans to Increase Taxes on 2.1 Million Small Businesses

The Small Business and Entrepreneurship Council (SBE Council) is warning that the Biden Administrations’ tax plan would raise taxes on 2.1 million small businesses – in contrast to the Administrations’ claims. Last week, the White House issued a Fact Sheet on the plan claiming the… Read More

Revolut is Making Millionaires of Early Employees: Report

Revolut, a top neobank that has global aspirations, is making millionaires of many of its employees. It is not just its founders that benefiting from the Fintech’s success but others that have picked up shares in the private company as it has grown. Revolut’s most… Read More

Fintech & Blockchain Attorney Daniel Payne Comments on Looming SEC Enforcement Actions Targeting Digital Asset Sector

The enforcement drums are pounding at the Securities and Exchange Commission (SEC) when it comes to digital assets. At the top of the list are trading platforms that may be skirting established securities laws, especially when the Commission believes they are enabling the buying and… Read More

Crypto Industry Insiders Comment on Massive $600 Milion Hack of Poly Network

The hack of Poly Network that pilfered over $600 million is the largest DeFi theft ever. While Poly Network reports having retrieved some of the crypto, hundreds of millions in digital assets are still yet to be returned.   $260 million (As of 11 Aug… Read More

Infrastructure Bill with Language Damaging to Crypto Sector Passes the Senate

Earlier today the US Senate voted on a massive bill that, while labeled infrastructure, included a cornucopia of pet projects and unrelated policy goals. Squirreled away in the legislation was language designed to raise revenue by taxing crypto transactions as well as broadly defining the… Read More

Regulation by Enforcement: SEC Commissioner Hester Peirce Criticizes Poloniex Enforcement Action

SEC Commissioner Hester Peirce, long a supporter of Fintech innovation, has issued a statement in the wake of the enforcement action taken by the Commission against Poloniex, a crypto exchange. As was reported earlier today, Poloniex has settled the SEC’s allegations of operating an unlicensed… Read More

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