High 10 Fintech Information Tales for the Week Ending Might 14, 2022

This week’s information was dominated by the crypto meltdown, or extra particularly, the fast demise of stablecoin TerraUSD and its paired token Luna, that impacted all the market. Additionally making information was a Coinbase regulatory submitting, Tiger World has been an enormous loser this yr, Chainalysis closed one other huge spherical and extra. Listed here are what I contemplate to be the highest ten fintech information tales of the previous week.

Terra’s $45 Billion Face Plant Creates a Crowd of Crypto Losers from Bloomberg – This was the most important meltdown the crypto world has ever seen (and it has seen a couple of), with $45 billion faraway from the market with the collapse of TerraUSD and Luna.

Stablecoin TerraUSD crashes previous $1 alongside crypto market from LendIt Fintech Information – Our personal protection from Kevin Travers traces the actions of the previous week of TerraUSD because it slowly after which quickly collapsed.

US Treasury Secretary Janet Yellen pushes for stablecoin regulation by finish of yr from TechCrunch – Not surprisingly throughout weeks akin to these regulators are calling for motion. Treasury Secretary Yellen mentioned that stablecoin regulation is required and Congress ought to cross laws to create a constant federal framework by the top of the yr.

Coinbase Says Customers’ Crypto Belongings Lack Chapter Protections from The Wall Avenue Journal – In a regulatory submitting this week Coinbase made it clear that, within the occasion of a chapter, the crypto property held on its platform might develop into basic liabilities and buyers handled as unsecured collectors.

Tiger World, hit by $17B in hedge fund losses, has practically depleted its newest VC fund from TechCrunch – One of many largest fintech buyers, Tiger World, has had a tough yr thus far, down $17 billion in the course of the tech selloff, erasing two-thirds of its acquire since its launch in 2001.

Chainalysis Raises $170M at $8.6B Valuation from CoinDesk – In the course of the tumult of this week’s crypto meltdown, Chainalysis revealed it had raised $170 million in new funding at an $8.6 billion valuation. Chainalysis is the chief in investigatory crypto instruments, a distinct segment that’s exploding in reputation as governments and personal corporations look to trace illicit crypto flows.

FTX Founder Sam Bankman-Fried Buys 7.6% Stake in Robinhood from The Wall Avenue Journal – The billionaire founding father of FTX, Sam Bankman-Fried, has invested round $648 million for a 7.6% stake in Robinhood which might make him the buying and selling app’s quantity three shareholder. Shares jumped 25% on Friday because the market digested this information.

Chopra’s expansive imaginative and prescient for CFPB authority is dealing with trade pushback from American Banker – The CFPB underneath Director Chopra has seen numerous coverage adjustments and enforcement actions, now bankers and fintechs are pushing again.

How Increased Curiosity Charges Might Upend The Fintech Enterprise Mannequin from Forbes – All digital banks in the present day have come of age in an setting of zero rates of interest. As that adjustments will conventional banks have a bonus over their digital counterparts given they’ve been by way of rising rate of interest environments previously?

Visa’s high crypto government Terry Angelos leaves for Softbank-backed brokerage start-up DriveWealth from CNBC – Terry Angelos has been the highest fintech and crypto exec at Visa for a few years. However now he has jumped ship to steer DriveWealth, one of many pioneers in embedded finance.

Each Thursday afternoon, the LendIt Fintech Information workforce and a particular visitor talk about the information of the week reside on LendIt TV, YouTube, LinkedIn, and Twitter. We have now now made the present out there in podcast format – click on on the audio participant under.

Leave a Reply

Your email address will not be published.