Fintech Focus For July 6, 2021

Quote To Start The Day: “Money is made by sitting, not trading.”

Source: Jesse Livermore

One Big Thing In Fintech: In a working paper published on July 1, researchers with the Bank for International Settlements looked at trends among crypto investors.

Central to the research was a refutation of the idea that crypto investors are predominantly investing in defiance of government-issued or fiat currencies. The authors lead the paper with the claim that "we disprove the hypothesis that cryptocurrency investors are motivated by distrust in fiat currencies or regulated finance."

Rather than being an investment in the death of fiat, the researchers say that crypto investors are attracted to old-fashioned speculation, meaning that the area doesn't need new regulation.

Source: Block

Other Key Fintech Developments:

• Midas hones in on infrastructure.
• Quandl expanded data offerings.
• Tiger led FairMoney investment.
• PSE looks to add crypto trading.
• BNP, FIS teamed up on clearing.
• TeamApt plans use of its funding.
• Banks cement digital relationship.
• Santander is deploying algo tech.
• Fintech investments by top tech.
• Insurtechs draw big investments.
• SoftBank is in talks with Revolut.
• BBVA invested in StepEx startup.
• Standard Life completed rebrand.
• Karat adds $26M Series A round.
• NCR opens up bitcoin purchases.
• Bluestone honing in on lendtech.
• Cboe completes Chi-X purchase.
• FB Bank teamed with Fireblocks.
• Codat raises, improves API tech.
• Northern Trust looks to alt assets.
• Booking.com intros a fintech unit.
• Navexa honing portfolio tracking.
• NYCE adds funds, a public offer.

Watch Out For This: The Transportation Security Administration said Friday that airport screenings have climbed above 2019 levels for the first time in the pandemic, signaling strong travel demand during Fourth of July weekend.

Source: CNBC

Interesting Reads:

• Monzo founder talks success tips.
• When could China rule the world?
• Croatian Rimac took over Bugatti.
• OPEC in crisis as infighting looms.
• SoftBank buys Yahoo trademark.
• Demise of cars was exaggerated.
• Jeff Bezos handing over CEO role.
• Premium Elon Musk adds to Tesla.
• Industries to thrive on millennials.

Market Moving Headline: Last week, U.S. stock index futures auctioned sideways to higher into Friday’s employment report. The release showed an addition of 850,000 jobs in June, the strongest employment gain since last summer.

The S&P 500 and Nasdaq 100 led the week-long rally, while the Dow Jones Industrial Average followed closely behind. Though the Russell 2000 did end lower, it has been building energy for a break.

Key Takeaways: U.S. equity index futures diverge in their attempt to discover fair prices for two-sided trade.

- Economy is set for sustained boom.

- Ahead is a light economic calendar.

- SPX, NDX, DJI higher. RUT coiling.

In the coming sessions, participants will want to focus their attention on where the S&P 500 trades in relation to Friday’s $4,323.00 untested Point of Control (POC).

Source: Physik Invest