The second round of the Paycheck Protection Program launched this morning at 10:30am ET; Congress approved $484 billion in additional...
The SEC's report on ICOs as securities has prompted ShapeShift to review the listings on its cryptocurrency exchange; ShapeShift will likely delist some of its traded listings and says it does not want to be characterized as a securities exchange; ShapeShift and its legal counsel will apply the Howey Test to the cryptocurrency listings which is the current market standard also used by the SEC for determining whether an offering is considered a security. Source
CNBC talks with Eyal Lifshitz of Bluevine who says fallouts from public companies have affected valuation discussions noting that investors are more skeptical now after struggles from Lending Club and OnDeck; Lifshitz expects companies will drop out of the market and Schwark Satyavolu, general partner at Trinity Ventures, says the industry is likely to see more acquisitions and consolidation. Source
According to a recent Wall Street Journal report, costs associated with rewards credit cards increased an average of 15 percent during the...
PayPal broke all sorts of records in the second quarter of 2020 as the acceleration of digital payments continued to...
The lawsuit by the New York Department of Financial Services aimed at blocking the OCC Fintech Charter has been thrown out; Judge Naomi Reice Buchwald stated, "Since the OCC has not reached a final ‘fintech charter decision,’ defendants’ … motion is granted as plaintiff has suffered no injury in fact … and because plaintiff’s claims are not ripe."; it is possible that they could attempt to re-sue once the fintech charter is created. Source
From the LendIt Fintech Jobs Board: The Financial Crime department at leading digital bank Revolut is looking for a Senior...
Science Blockchain is the first incubator ICO to go to market; Argon Group will be advising the ICO; Science Blockchain began in 2011 and they have co-founded and invested in over 70 companies; they aim to take their expertise to help select blockchain entrepreneurs; token holders will get access to new tokens from incubated portfolio companies; investors will also benefit in any upside from owning Science Tokens. Source
In their latest edition of Confessions, TearSheet talks to an analyst at a startup attached to a large bank about innovation, trying to get tech talent and why more fintech companies should partner with banks; about half of the talent at the startup came form inside the bank and as the analyst points out it was more because of convenience as hiring from the outside could take months; banks have trouble keeping top talent because the projects are not as interesting as projects at Google or Facebook; other areas discussed include default rates ticking up, marketing practices and expanding product offerings. Source.
Known as one of the top banks in the UK Barclays has been growing their presence in the US by...