Fintech Focus For June 11, 2021

Quote To Start The Day: "As my knowledge of things grew I felt more and more the delight of the world I was in.”
Source: Helen Keller

One Big Thing In Fintech: The Basel Committee on Banking Supervision on Thursday recommended the highest possible risk weighting — 1,250% — be applied to a bank's exposure to Bitcoin and some other cryptocurrencies. Under that suggestion, a bank would need to hold a dollar in capital for each dollar worth of Bitcoin, based on an 8% minimum capital requirement.

Source: Banking Dive

Other Key Fintech Developments:

• LemonEdge adding $2.5M round.
• Silvergate cuts ties with Binance.
• Money Minx to build finance tech.
• Regions agrees to buy EnerBank.
• BoA expanding digital payments.
• Stripe has added Stripe Tax tech.
• Messenger adds Venmo-like QR.
• State Street sets up a crypto unit.
• Webull is considering $400M IPO.
• Texas greenlights crypto custody.
• French, Swiss will run CBDC trial.
• Nude launches home buying app.
• Sunwest launches a new platform.
• Small Exchange intros pot futures.
• TreasurySpring has raised $10M.
• Ledger landed a $380M Series C.
• Unpacked: The fintech endgame.
• Warren looks for crypto regulation.
• Remitly has filed IPO paperwork.
• Clip secures $250M in new round.
• Fundbox partners up with Indeed.
• Arrington launches a $100M fund.
• CrossTower partners with Khalsa.
• Klarna has secured $639M round.
• Coinbase struck crypto 401K deal.
• Amex and Synchrony bid Amazon.
• Pacer ETFs passed $7B in AUM.
• Analysis: LATAM cryptocurrencies.
• Unbound Finance adds financing.

Watch Out For This: In the end, in running a successful company, egos must be removed.

That’s according to JR Rahn, who said MindMed requires leaders better equipped to pursue late-stage clinical trials and solve regulatory hurdles.

“It’s about removing oneself from necessarily what your ego tells you to do,” he said in a conversation on his commitment to making minds and bodies healthier. “The biggest thing I can do for MindMed, right now, is to realize that it needs a different type of leader, for the long haul. It is really for the best of the mission that is so deeply important to me.”

Source: Benzinga

Interesting Reads:

• Charge is investing in EV charging.
• AMC seeing a new path to stability.
• Fuel Ventures launches a VC fund.
• JPM sees a new BTC bear market.
• SEC freshens up market structure.
• Analysis: Global minimum tax hike.
• JPM: Inflation is not a threat today.

Market Moving Headline: Prices paid by U.S. consumers rose in May by more than forecast, extending a months-long buildup in inflation that risks becoming more established as the economy strengthens.

Source: Bloomberg