As was previously reported, First Republic Bank has gone into receivership by the Federal Deposit Insurance Corporation (FDIC) – now representing the second-largest bank failure in history. JP Morgan Chase (NYSE:JPM) has stepped in to take over the bank as a bidding process took place… Read More
Read more in: Uncategorized | Tagged First Republic Bank, jp morgan, patrick mchenry
Digital banking innovator Tyfone, Inc. announced a major transaction that includes a significant investment from Demopolis Equity Partners and a merger with digital banking provider Cubus Solutions, “resulting in the combined entity operating under the Tyfone brand.” This move will aim to accelerate “the adoption of… Read More
Read more in: Fintech, Uncategorized | Tagged digital banking, investments, merger, virtual banking
As CI reported yesterday, the House Financial Services Committee has scheduled a markup session for pending legislation. Many of the proposed bills are designed to improve access to capital as well as improve JOBS Act rules. In a statement in advance of the meeting, Congressman… Read More
Read more in: Politics, Legal & Regulation, Uncategorized | Tagged accredited investor, house financial services committee, patrick mchenry
It is that time of year again taxes are due in the US. The only groups that like tax season are the ones that benefit – state, local, and federal government – and tax preparers that earn their keep by navigating the byzantine process of… Read More
Read more in: Featured Headlines, Fintech, Opinion, Regtech & Legaltech, Uncategorized | Tagged april, atomic, qed, taxes
The spectacular collapse of Wirecard, once Germany’s largest Fintech, still reverberates within the country. While different pieces and parts have been sold off to various firms, the collateral damage continues, and new information continues to emerge. Today, EY – once the auditor of Wirecard, has… Read More
Read more in: Fintech, Global, Politics, Legal & Regulation, Uncategorized | Tagged bafin, ey, germany, jan marsalek, markus braun, wirecard
Paxos, a regulated digital asset platform, says that even with the calamitous 2022 collapse of FTX, consumers are confident about the crypto sector going forward. Paxos said it completed the survey in partnership with Pollfish, who polled more than 5000 individuals in an online survey… Read More
Read more in: Uncategorized | Tagged crypto survey, paxos
Later this week, the Subcommittee on Capital Markets, part of the House Financial Services Committee, will hold a hearing entitled U.S. Public Markets Built for the 21st Century: Exploring Reforms to Make Our Public Markets Attractive for Small and Emerging Companies Raising Capital. As the… Read More
Read more in: Featured Headlines, Opinion, Politics, Legal & Regulation, Uncategorized | Tagged house financial services committee, perspective
Cushon, a Seedrs portfolio company, was acquired by Natwest Group – announced this past week. NatWest is acquiring an 85% majority shareholding in Cushon with the company’s existing management retaining the remaining 15%. Cushon’s main products are a workplace ISA and a master trust pension…. Read More
Read more in: Fintech, Investment Platforms and Marketplaces, Offerings, Uncategorized | Tagged cushon, natwest, seedrs, uk, united kingdom
Yesterday, the Securities and Exchange Commission (SEC) announced an enforcement action against Gemini, a digital asset platform, and Genesis – a subsidiary of Digital Currency Group (DCG). The revelation of the lawsuit arrived at a challenging time for both firms as Gemini is in the… Read More
Read more in: Uncategorized | Tagged barry silbert, dcg, digital currency group, enforcement, gemini, genesis, sec, tyler winklevoss
In the days when FTX could do no wrong, viewed as the second coming of crypto exchanges, FTX cut a deal to have its brand plastered on the Miami Heat Arena. Stepping in to take over from the august American Airlines in the Spring of… Read More
Read more in: Uncategorized | Tagged ftx, ftx arena
StartEngine, a leading investment crowdfunding platform in the US, is reporting 37 exits to date. This includes the issuers that raised capital on SeedInvest, a platform StartEngine recently acquired. In a widely distributed email, StartEngine CEO Howard Marks commented: “In order to take equity crowdfunding… Read More
Read more in: Uncategorized | Tagged seedinvest, startengine
Sam Bankman-Fried, the disgraced former CEO and founder of FTX, has been spending recent days apologizing for his mismanagement of the firm on Twitter. Yesterday, an apparent email distributed by Bankman-Fried was shared on the internet, credited to Coindesk. In the email, Bankman-Fried apologized once… Read More
Read more in: Uncategorized | Tagged ftx, sam bankman-fried
The Autumn Statement delivered by the Chancellor of the Exchequer, Jeremy Hunt, last week included some grim news – including the declaration that the UK economy is in a recession. Fiscal sobriety was the message, a sharp turn from the mini-budget under Truss that caused… Read More
Read more in: General News, Global, Opinion, Politics, Legal & Regulation, Uncategorized | Tagged autumn budget, autumn statement, jeremy hunt, oliver prill, tide, uk, united kingdom
CapitalRise has financed an £8.5 million loan for the acquisition and development of a detached 13,000 sq. ft house on the private Wentworth Estate in Virginia Water. CapitalRise notes that the new detached house on the plot has an estimated sales price of £16 million… Read More
Read more in: Global, Investment Platforms and Marketplaces, Real Estate, Uncategorized | Tagged capitalrise, katy katani, uk, united kingdom
Insurtech Cover Genius has raised $70 million in a Series D round led by Dawn Capital. New investors Atlas Merchant Capital joined with existing investors GSquared and King River Capital to fund the round. The round was said to be oversubscribed and came at a… Read More
Read more in: Global, Insurtech, Uncategorized | Tagged cover genius, dan chaplin, embedded insurance
The Autorité des Marchés Financiers (AMF) has appointed Marie-Anne Barbat-Layani as its new Chair, replacing Robert Ophèle, whose term of office came to an end on July 31, 2022. In the interim, Jean-Claude Hassan has been acting Chair. Barbat-Layani is a graduate of the Paris… Read More
Read more in: Uncategorized | Tagged amf, autorite des marches financiers, france, Marie-Anne Barbat-Layani
The British Business Bank has posted an updated list that includes new companies backed by the Future Fund, one of several schemes enacted to provide assistance to firms harmed by the COVID-19 health crisis. Created in 2014, The British Business Bank is the UK government’s… Read More
Read more in: General News, Global, Politics, Legal & Regulation, Uncategorized | Tagged british business bank, future fund, ken cooper, uk, united kingdom
QuickSwap, a decentralized crypto exchange and automated market maker (AMM), has shut down QuickSwap Lend following an exploit. According to a Tweet by the platform, approximately $220,000 was pilfered in a “flash loan” due to a vulnerability. ⚠️QuickSwap Lend is closing⚠️ 🔗$220k was exploited in… Read More
Read more in: Uncategorized | Tagged defi, quickswap
Senator Bill Hagerty’s Digital Asset Clarity Act of 2022 aims to determine when a digital asset is a security and when it may be something else. As was reported earlier this month, the legislation strives to provide digital asset exchanges with a safe harbor from… Read More
Read more in: Blockchain & Digital Assets, Politics, Legal & Regulation, Uncategorized | Tagged bill hagerty, legislation
finbots.ai, an artificial intelligence (AI) firm for credit modeling, has signed an agreement to partner with Proptech Tanaku, expanding their services into Indonesia. According to a company statement, finbots.ai platform will help Tanaku quickly create a high-quality customer risk assessment model to streamline pre-mortgage financing… Read More
Read more in: Uncategorized | Tagged finbots.ai, indonesia, proptech, sanjay uppal, singapore
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