Fintech Focus For July 22, 2021

Quote To Start The Day: “Know thy self, know thy enemy. A thousand battles, a thousand victories.”

Source: Sun Tzu

One Big Thing In Fintech: Adena Friedman, president and chief executive of Nasdaq, says the firm sees a huge opportunity from spinning out Nasdaq Private Market into a joint venture with a group of banks to accelerate investment and development of new capabilities.

“Going forward with our partners we expect to unlock significantly more value for our clients and shareholders by advancing the market for private company shares, with a high integrity, advanced platform that facilitates liquidity in new ways and build on the momentum that we’ve developed over the past several years.”

Source: Markets Media

Other Key Fintech Developments:

• Paysafe is looking into SaaS tech.
• Robinhood warns on crypto return.
• Digits unveiled tool, Digits Search.
• OpenSea added a $100M round.
• OppFi to go public, expand offers.
• FTX closes $900M funding round.
• DTCC automates ETF managing.
• Greenlight adds savings initiatives.
• Fidelity expands fintech investing.
• State Farm selects intelliflo’s tech.
• Revolut introduced travel booking.
• DriveWealth to raise up to $400M.
• Cyndx’s reveals precision of offer.
• Credit Suisse invested in Daloopa.
• Gensler looks into crypto reporting.
• ex-GS exec on banks and fintech.
• Percent raises $5M for donations.
• SIX expands international custody.
• Vestwell announces $70M round.
• Cutting the middle from transfers.
• OKCoin taps Worldpay for growth.
• GoCardless on credit card usage.
• Soldo closes $180M in a Series C.
• Paxos reveals stablecoin backing.
• GalaxyCard adds an angel round.
• I80 Group commits $1B to fintech.
• Dwolla raises $21M for payments.

Watch Out For This: Tesla will ‘most likely’ resume accepting bitcoin as a form of payment once the mining rate for the cryptocurrency reaches 50% renewables, CEO Elon Musk said Wednesday at a virtual panel discussion hosted by the Crypto Council for Innovation, remarks that are in line with statements he made last month on Twitter.

Source: TechCrunch

Interesting Reads:

• Musk said that SpaceX owns BTC.
• What’s in a superinvestor portfolio?
• New battery speeds EV transition.
• Powell is supported by Biden aides.
• Analysis: The end of Moore’s Law.

Market Moving Headline: After breaking down, the S&P 500 came to a micro-composite LVNode and halted. Thereafter, prices rebounded. Why was this? Stock indexes were positioned for a vicious rebound as near-term downside discovery may have reached a limit, based on market liquidity metrics and the inventory positioning of participants.

Source: Physik Invest