Fintech Focus For June 7, 2021

Quote To Start The Day: "The secret of success is to do the common thing uncommonly well."

Source: John D. Rockefeller Jr.

One Big Thing In Fintech: UBS’s new hybrid digital wealth management platform has attracted $3.7 billion in its first year, boosting chief executive Ralph Hamers’ strategy of winning more business from the lower echelons of the global rich.

Source: Reuters

Other Key Fintech Developments:

• PFL announcing first MMA NFTs.
• Massachusetts looking to fintech.
• Unchained Capital secures $25M.
• MS, Microsoft team up on cloud.
• Meet TradeStation-backed Aries.
• Stavvy raises $40M in financing.
• El Salvador eyes bitcoin adoption.
• Lemonade is facing lots of traffic.
• Kraken launches US mobile app.
• MX rapidly pushes open finance.
• Capchase locks $125M funding.
• Report: Digital dollar taking flight.
• Cashfree looks to global markets.
• Bitcoin Water Trust taps donors.
• EU announces wallet framework.
• Ratehub intros insurance broker.
• Bezos investing in Chipper Cash.
• Challenger playbook, new trends.
• Solana plans nearly $450M raise.
• MoneyLion reports, eyes growth.
• Augmentum eyeing investments.
• Yieldstreet taps $100M Series C.
• Infinite Sweeps eyes AI orderflow.

Watch Out For This: Five months on from Jan. 6, the authorities have brought charges against more than 400 rioters, often using the traditional tools of law enforcement, such as search warrants and confidential informants. But they’ve also relied on the crowdsourcing efforts of sedition hunters. In the days after the riot, the FBI saw a 750% increase in daily calls and electronic tips to its main hotline.

The bureau still receives twice the normal volume of alerts. Such tips have proved helpful in “dozens of cases,” says Samantha Shero, an FBI spokeswoman. “The public has provided tremendous assistance to this investigation, and we are asking for continued help to identify other individuals.”

Source: Bloomberg

Interesting Reads:

• Move toward global tax overhaul.
• Russia out of Open Skies treaty.
• Tesla cancels Model S Plaid Plus.
• Dorsey defends decentralization.
• Young professionals retiring early.

Market Moving Headline: Treasury Secretary Janet Yellen said President Joe Biden should push forward with his $4 trillion spending plans even if they trigger inflation that persists into next year and higher interest rates.

Source: Bloomberg