Fintech Focus For June 21, 2021

Quote To Start The Day: "We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.”

Source: Warren Buffett

One Big Thing In Fintech: Successive hearings before the U.S. Senate and House of Representatives have focused national attention on digitizing the dollar.

Despite agreeing on broad talking points, concrete plans for the architecture of a U.S. CBDC remain inscrutable.

Source: The Block

Other Key Fintech Developments:

• Axis-Z looks at merging VR, trading.
• Owning paycheck a key to success.
• Citi Ventures invests in lending tech.
• Clearlake Capital to buy Confluence.
• DailyPay, PNC and TCH teamed up.
• DeFi is the new great growth engine.
• RBC rolls out Insight Edge analysis.
• Grayscale exploring more products.
• Volt secures $23.5M Series A round.
• Blockchain and water management.
• The future of fintech began in 2020.
• Stablecoins cited as a risk to system.
• Splash raises $40M Series B round.
• Amazon aims for fintech disruptions.
• Raisin now live with US partner bank.
• BBVA opens bitcoin trading, custody.
• Scotiabank tapped machine learning.
• Unit added bank, payments product.
• Novus partners Visa for banking app.
• Galaxy is providing GS BTC liquidity.
• Amber Group adds $100M Series B.
• B Charitable launches new platform.

Watch Out For This: Loyalty should not be discounted.

Why? It leads to conversion.

That’s the key takeaway from one recent TikTok video Jesse Itzler posted about on his relationship with rapper, producer and businessman 50 Cent who, many years prior, interned under Itzler.

Source: Benzinga

Interesting Reads:

• Gilbert supporting Detroit innovation.
• American Air cancellations continue.
• Supply crunch risks move into 2022.
• Companies look to meme playbook.
• Canada border to remain restricted.
• Automakers pour money into robots.
• Delta increases hospitalization risks.

Market Moving Headline: Last week, U.S. stock index futures diverged.

The Nasdaq 100 traded relatively strong, in comparison to the weaker S&P 500, Russell 2000, and Dow Jones Industrial Average. This action comes as the Federal Reserve signaled a faster-than-expected pace of policy tightening (learn more about the impact of policy tightening, here).

At the same time, in conjunction with the divergence in major indexes, participants saw sectoral breakdowns, a concern that may portend increased volatility after ‘Quadruple Witching’ Friday, or the rebalancing of benchmarks, as well as the expiration of stock index futures, stock index options, stock options, and single stock futures.

Key Takeaways: Index futures diverge. Risk-off sentiment returns.

- Fears over inflation and taper sparking movements.

- Ahead: GDP, Home sales, PMI, Claims, Fed speak.

- Indices sideways to lower; growth, tech stay strong.

In the coming sessions, participants will want to focus their attention on where the S&P 500 trades in relation to the $4,153.25 high volume area (HVNode).

In the best case, the index trades sideways or higher; activity above $4,153.25 puts in play the HVNodes at $4,177.25 and $4,199.25. Initiative trade beyond $4,199.25 could reach as high as the $4,227.75 HVNode, $4,235.00 Point Of Control (POC), and $4,258.00 overnight high (ONH).

Source: Physik Invest