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HomePeer to Peer LendingPrime 10 Fintech Information Tales for the Week Ending July 23, 2022

Prime 10 Fintech Information Tales for the Week Ending July 23, 2022


No new crypto bankruptcies this week so we are able to name {that a} constructive. Though we did have the trade’s first insider buying and selling case introduced by the SEC. It’s wanting extra doubtless we are going to see stablecoin regulation within the close to time period and SBF says he’s pleased to be a backstop for the crypto trade. Listed here are what I contemplate to be the highest ten fintech information tales of the previous week.

Stablecoins would get federal guidelines beneath rising Home deal from The Washington Put up – Whereas crypto regulation continues to be languishing in Congress there’s one space the place actual motion is going on: stablecoins. A bipartisan proposal is progressing by means of the Home Monetary Providers Committee that might restrict the issuance of stablecoins to regulated entities akin to banks.

FTX’s Bankman-Fried Says It’s Price Shedding Cash to Prop Up Crypto Trade from CoinDesk – At a Bloomberg occasion in New York this week the enigmatic CEO of FTX, Sam Bankman-Fried, stated that he’s keen to do “dangerous offers” to assist assist the crypto trade.

Instagram’s new funds characteristic lets customers purchase merchandise through DMs from TechCrunch – Meta CEO Mark Zuckerberg introduced this week that Instagram customers will be capable to purchase merchandise from small companies straight through a direct message. Additionally, you will be capable to observe orders through this characteristic.

Former Coinbase Worker Charged in First-Ever Crypto Insider-Buying and selling Case from The Wall Avenue Journal – A former Coinbase supervisor has been charged with insider buying and selling after sharing confidential data together with his brother and a buddy. In a extra necessary growth the SEC stated that 9 of the 25 tokens have been securities, Coinbase disputes that.

Minecraft says ‘No F-ing Thanks’ to NFTs from TechCrunch – NFTs have been rising in reputation in gaming however the preferred recreation of all, Minecraft, is not going to be a part of this development. The group behind Minecraft, which is owned by Microsoft, stated NFTs take focus away from the sport and encourages profiteering, so they’re out.

Blockchain.com Cuts 25% of Its Workforce Amid Crypto Bear Market from CoinDesk – One other main crypto change is shedding a big chunk of its workforce. Blockchain.com is letting go 150 individuals, 25% of its workforce, with 44% of affected staff in Argentina the place it’s shuttering its places of work. The platform was hit by a $270 million mortgage loss to Three Arrows Capital.

Why Some Banks Are Nonetheless Getting Into Crypto After the Meltdown from The Monetary Model – Whereas just one in ten monetary establishments plan to introduce crypto providers in 2022, the large three core expertise suppliers are all engaged on integrating crypto providers into their choices. So banks and fintechs will be capable to extra simply launch crypto choices as soon as the mud settles.

Former staff say points plagued the crypto firm Celsius years forward of chapter from CNBC – This not stunning however former Celsius staff now say they noticed issues with what Celsius was doing years in the past. A former head of compliance was shocked by among the practices that have been taking place. Lots of the issues centered round manipulation of the CEL token. Not look.

TomoCredit raises $22M at a $222M valuation towards its objective of constructing credit score scores ‘out of date’ from TechCrunch – Funding rounds are nonetheless being closed with TomoCredit revealing they’ve closed a $22 million Sequence B that values the corporate at $222 million. Tomo helps underbanked individuals construct credit score quick and has expanded their focus past immigrants.

How blockchain might disrupt interbank transactions mentioned at Fintech Nexus’ London meetup from Fintech Nexus – I used to be in London this week the place we hosted a meetup with lots of the native blockchain and fintech leaders. I interviewed the CEOs of Fnality and Adhara who’re constructing the world’s first blockchain-based real-time settlement system at a central financial institution.


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