Fintech Focus For June 1, 2021

Quote To Start The Day: “Showing is better than telling.”

Source: Floyd Mayweather

One Big Thing In Fintech: Ray Dalio, a billionaire investor and the founder of the world's largest hedge fund Bridgewater Associates, has said that the digital yuan will be more competitive than the digital dollar.

Source: Block

Other Key Fintech Developments:

• Nasdaq on the evolution of banks.
• Goldman led a $45M fintech raise.
• Cash wallets the future of fintech.
• Gresham to buy post-trade fintech.
• European fintechs fill war chests.
• Apifiny announces launch of tech.
• Eurex extends EnLight with forex.
• Obie raises $10.7M for insurtech.
• More on Visa’s online marketplace.
• Bison Trails acquired by Coinbase.
• Stash weighing go-public options.
• Circle is considering a SPAC deal.
• Crypto.com’s climate commitment.
• Paysend secures Series B funds.
• DBS gets first security token offer.
• Congress investigating Kabbage.
• SEC files suit against BitConnect.
• Chip, BlackRock working on tech.
• Modern retail needs modern rules.
• QuintoAndar landed $300M round.
• Cloud9, Sphere partner over voice.
• Coinbase intros a prime brokerage.
• Jai Kisan raised $30M in financing.
• Circle and Atom add a partnership.
• Chipper Cash closes on Series C.

Watch Out For This: Life as depicted in George Orwell’s 1984 “could come to pass in 2024” if lawmakers don’t protect the public against artificial intelligence, Microsoft’s president has warned.

Source: BBC

Interesting Reads:

• Twitter Blue subscriptions coming.
• Amazon is planning to buy MGM.
• Detroit’s Maxpro teams with Shaq.
• Chamath talks SPAC regulations.
• Implications of leveraged finance.
• PBOC increased its reserve ratio.
• How gasoline came into our lives.
• Oil nearing $70/barrel on demand.

Market Moving Headline: Coming into the large May monthly options expiration (OPEX) and the extended holiday weekend, U.S. stock index futures pinned, trading sideways-to-higher.

Key Takeaways: Index futures in balance.

- Best to assume the taper tantrum happened.

- Ahead: Fed speak and data on employment.

- Indices traded sideways-to-higher last week.

In the coming sessions, participants will want to focus their attention on where the S&P 500 trades in relation to the $4,197.25 high volume area (HVNode).

In the best case, the index trades sideways or higher; activity above $4,197.25 has the potential to reach the $4,227.00 point of control (POC). Initiative trade beyond the POC could reach as high as first the $4,238.00 overnight all-time high (ONH) and then, the $4,294.75 Fibonacci-derived price extension, a typical recovery target.

Source: Physik Invest