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Market Overview

Fintech Focus For April 12, 2021

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Quote To Start The Day: I would rather engage in the pursuit of excellence than the pursuit of assets.

Source: Ken Griffin

One Big Thing In Fintech: A week before its initial public offering (IPO), Coinbase reported significant user growth for the first quarter of 2021.

See also: How to Buy Coinbase IPO (COIN) Stock

In a report released on April 6, the cryptocurrency exchange claimed to have an estimated 56 million verified customers in Q1 2021—that’s an additional 13 million since Q4 2020.

Source: Visual Capitalist

Other Key Fintech Developments:

  • Bloomberg gives BTC 400K target.
  • Texas welcoming leaders in crypto.
  • Zenotta raised $10.7M seed round.
  • Public.com to hold finance festival.
  • Atom’s valuation halved on a raise.
  • Schwab eyeing crypto procedures.
  • JPMorgan responding to fintechs.
  • TrueLayer added a $70M Series D.
  • Crypto exchange traffic is dropping.
  • Rarible co-founder: NFTs will stay.
  • Gemini tapped Alloy for credit card.
  • AllianceBlock has secured $100M.
  • Finary raises $3.2M for community.
  • Robinhood saw 9.5M crypto traders.
  • Better added $500M from SoftBank.
  • Exodus receives SEC qualification.
  • NYDIG adds $100M growth capital.
  • TipRanks secures $77M in funding.

Watch Out For This: So far in 2021, the banking sphere has seen two such deeply affecting narratives: the revelation of work expectations for junior analysts at Goldman Sachs; and Citi’s counter that it will let most of its staff work at least three days a week from the office and as many as two days remote after the COVID-19 pandemic subsides.

Source: Banking Dive

Interesting Reads:

  • Ford adds Bronco-only dealerships.
  • Retirement plans during COVID-19.
  • Blackout at Natanz is nuclear terror.
  • Businesses hurry with AI approach.
  • How to team build for $1B startups.
  • 53% of Canadians near insolvency.
  • Spotify quiet about voice command.
  • Amazon beats back the union push.
  • Advice: So you want to raise funds?
  • A look inside the anti-vax playbook.

Market Moving Headline: The S&P 500 closed above $4,100 for the first time as investors looked to price in an economic “‘Goldilocks moment’—fast, sustained growth alongside inflation and interest rates that drift slowly upward.”

Key Takeaways:

- Institutions bullish but risks add up.

- Earnings season to start this week.

- Balance-to-higher into April OPEX.

In the coming sessions, participants will want to pay attention to where the S&P 500 trades in relation to Friday’s end-of-day spike higher.

In the best case, the S&P 500 remains above the $4,104.00 spike base. Doing so means that the participants are validating the prices caused by the late-day knee-jerk rally.

In the case of lower prices, participants can look to whether a test of the $4,069.00 high-volume area (HVNode) solicits a response. If not, initiative trade could take prices as low as $3,943.00, the next most valuable price area in the chain.

Source: Physik Invest

 

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