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“# Low Millennial financial well-being drives crypto adoption: report ” Data shows that Millennials in the United States are flocking to alternative financing methods such as crypto assets to boost their financial well-being. A report titled The State of Consumer Banking & Payments by Morning Consult in January found that Millennials are adopting new technologies…
“# Binance’s Paysafe deal worries UK financial watchdog ” The Financial Conduct Authority (FCA), the top financial authority in the United Kingdom, has raised concerns over Binance’s recent partnership with Paysafe, a retail payment processor. The U.K. financial watchdog said the latest partnership of Binance gives it access to the extensive retail payment network via…
“# VanEck launches its first multi-token cryptocurrency fund ” On Monday, VanEck, a financial institution with close to $82 billion in assets under management with exchange-traded funds, or ETFs, mutual funds and institutional accounts, announced the launch of its first cryptocurrency fund. The fund is listed as an exchange-traded note, or ETN, on the Deutsche…
“# Crypto infrastructure firm Fireblocks valued at $8B following $550M raise ” Digital asset custody platform Fireblocks has raised $550 million in Series E funding to become one of the blockchain industry’s most valuable companies, underscoring heightened institutional appetite for cryptocurrency products despite extreme price volatility. The investment round was co-led by venture firms D1…
“# Google Pay hires PayPal exec to head up crypto payments push ” Google has hired a former PayPal executive to help bolster Google Pay, with plans to expand into the crypto space. Arnold Goldberg has been given the task of running Google’s payments division as part of a company-wide push into financial services, including…
“# Tribal Credit raises $40M in ‘hybrid’ debt round funded by dollars and stablecoins ” Crypto-focused enterprise payment platform Tribal Credit has concluded a $40 million debt offering that was funded through fiat and stablecoins — giving the company additional capital to expand its business services in Latin America. The so-called hybrid debt round was…
“# Collateral damage: DeFi’s ticking time bomb ” As 2021 draws to a close, the premier lineup in the DeFi landscape largely consists of synthetic asset platforms (SAPs). An SAP is any platform that enables users to mint synthetics, which are derivatives whose values are pegged to existing assets in real time. As long as…
“# The battle of banks vs. DeFi is a win for individual crypto investors ” The state of banking and finance today presents a complex labyrinth that even seasoned bankers struggle to navigate. Despite appearances, there is a method to this madness. As Nobel Prize winners like Muhammad Yunus and Joseph Stiglitz have cautioned in…
“# ‘Nation should not compensate investors for crypto losses’ says UK’s Financial Conduct Authority CEO ” On Wednesday, Nikhil Rathi, CEO of the United Kingdom’s Financial Conduct Authority, or FCA, issued the following statement to the Treasury Committee when asked about the risks of the much-unregulated cryptocurrency sector in the country: When we talk about…
“# First NFT-focused ETF lists on NYSE Arca ” On Thursday, registered investment adviser and fintech firm Defiance announced it has launched the first nonfungible token (NFT)-focused exchange-traded fund (ETF) on the New York Stock Exchange Arca. The fund is listed under the ticker symbol NFTZ and has a management fee of 0.65% per year….