Fintech Focus For May 10, 2021

Quote To Start The Day: “The world is a book and those who do not travel read only one page.”

Source: St. Augustine

One Big Thing In Fintech: While recent information could indicate that some of the most lucrative trading activity at companies like Robinhood could be slowing, there’s also encouraging app download information that paints a more bullish picture regarding the durability of the boom in consumer interest regarding savings and investing.

Source: TechCrunch

Other Key Fintech Developments:

• Galaxy to acquire BitGo for $1.2B.
• Dfinity to launch an AWS DLT rival.
• Paystack expands post-Stripe buy.
• SEC setting sight on Citadel, Virtu.
• IGM CEO discusses Wealthsimple.
• NYDIG hired on Bridgewater CFO.
• Green Dot joins exodus from Cali.
• Open banks and LatAm innovation.
• Goldman leads Coin Metrics round.
• African fintechs raised more funds.
• Tribevest has added banking tools.
• Flywire makes US IPO filing public.
• An analysis from dYdX’s L2 launch.

Watch Out For This: The US Federal Reserve has warned that existing measures of hedge fund leverage “may not be capturing important risks”, pointing to the collapse of Archegos Capital as an example of hidden vulnerabilities in the global financial system.

Source: Financial Times

Interesting Reads:

• Vanta taps Sequoia for $50M round.
• Story on how Jeff Bezos beat press.
• Could incentives sway anti-vaxxers?
• Josh Brown talks BTC, market risks.

Market Moving Headline: Here are the things you need to know for next week.

Index futures in price discovery.

Other key takeaways include:

- JPMorgan puts emphasis on reflation.

- Earnings were great. NFP not so much.

- Big bets over a Jackson Hole surprise.

- Indices diverge. S&P 500, Dow higher.

Technically speaking, equity indexes are at an interesting juncture.

The Dow Jones Industrial Average and S&P 500 resolved their multi-week consolidations, to the upside, while the Russell 2000 is rotating within prior range and Nasdaq 100 is relatively weak, losing support and auctioning into a low-volume area.

Further, the strong break in the S&P 500, which targets the Fibonacci-derived price extension near $4,300, has thus far been validated by numerous hours of trade outside of the consolidation zone (i.e., balance area). To note, though, the structure left behind Friday’s price discovery was very poor, opening the door for potential repair.

Source: Physik Invest