Fintech Focus For November 16, 2020

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Quote Of The Day: If you are not willing to risk the usual, you will have to settle for the ordinary. - Jim Rohn

Fintech Movers: The most well-funded US fintech startup is SoFi, with $2.5B in disclosed equity funding. The San Francisco-based personal finance platform offers an array of financial products, from an investment platform to home loans to student loan refinancing. - CB Insights

    • Top 21 decentralized finance projects.
    • Citi invested in API low-code platform.
    • NAB, Lighter Capital team on lending.
    • Kuda, a challenger bank, raised $10M.
    • FINOS added open RegTech initiative.
    • Citadel heats up market share battles.
    • PayPal crypto service available to US.
    • Robinhood unlocks cash management.
    • Biden is progressive on payment tech.
    • Fintech VCs are getting larger, pricey.
    • Markets, fintech become more diverse.

Watch For This: America’s adversaries, even before the contentious U.S. election aftermath, had seen a weakened country given “cleavages in the body politic” that they think they can exploit, former President Barack Obama said. - Bloomberg

    • George Orwell comes to Hong Kong.
    • Elon Musk’s 2020 was crazy bonkers.
    • NYC intros mental health responders.
    • Quibi leaders’ failure is self-sabotage.
    • Formula One wants to ban wind tests.
    • Feature requirements of retail traders.
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Market Moving Headline: S&P 500 companies have a shot at returning to pre-pandemic levels of corporate profits in 2021, which we didn’t think was possible just a couple of months ago. We have to re-evaluate how much earnings power corporate America will have post-pandemic. - Jeffrey Buchbinder

    • Resurgent virus cuts into credit trend.
    • Positive EPS surprises are punished.
    • Momentum’s wings slowly melt away.
    • Reflation trade dealt more head fakes.
    • Target canceled subscription services.
    • Santander looking to cut 14% of jobs.
    • Uber is looking to sell self-driving unit.
    • 80% of NY hotels on verge of default.
    • Ray Dalio talking China’s importance.
    • Ford looking to make its own EV tech.
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