Fintech Focus For June 28, 2021

Quote To Start The Day: “You become what you believe.”

Source: Oprah Winfrey

One Big Thing In Fintech: The U.K.’s Financial Conduct Authority (FCA) has ordered crypto exchange Binance to stop undertaking any regulated activity in the country. But since the exchange pulled its application for the FCA's crypto-assets register, it will be unable to offer unregulated services — such as spot trading — either.

Source: The Block

Other Key Fintech Developments:

• Broker Chaka secures SEC license.
• Top factors driving change in crypto.
• NYDIG broadens crypto in banking.
• MoneyLion CEO talks finance future.
• Gotrade closes $7M in seed round.
• Lob, Metromile streaming insurance.
• dxFeed opening up BTC, ETH data.
• El Salvador is giving $117M in BTC.
• Deserve secured a $50M Series D.
• Opera to integrate first stablecoins.
• Gemini has launched Gemini Green.
• Bakkt launches new Visa debit card.
• Alipay launches in-app NFT feature.
• A16z officially launches crypto fund.
• Slice secures $20M for credit cards.
• FB Bank selects Fireblocks custody.
• Stash buys financial literacy startup.
• Citigroup launches digital asset unit.

Watch Out For This: Tesla CEO Elon Musk may have an on-stage discussion with Twitter CEO Jack Dorsey at an upcoming bitcoin event, according to recent tweets.

Source: Block

Interesting Reads:

• Delta dangerous to the unvaccinated.
• Boeing 777X to not win certifications.
• The need to prepare for a new crisis.
• Wuhan lab scientist is speaking out.
• Tesla recalls nearly 300K China cars.
• Learn marketing from the successful.

Market Moving Headline: Last week, U.S. equity index futures discovered higher prices alongside some positive economic and political developments.

Both the S&P 500 and Nasdaq 100 established new all-time highs (ATHs). The Nasdaq 100, though, found responsive sellers at a zone of overlapping Fibonacci-derived price targets, weighing down the S&P 500, which had a difficult time expanding range, a usual sight for a healthy bull market.

Narrowing breadth, in conjunction with weak seasonality, potentially unsupportive market liquidity metrics, trade in the options market, as well as poor profile structures that offer little-to-no support on liquidations, suggests participants ought to beware of an increased potential to violently backfill.

Source: Physik Invest