Quote To Start The Day: "As my knowledge of things grew I felt more and more the delight of the world I was in.”
Source: Helen Keller
One Big Thing In Fintech: The Basel Committee on Banking Supervision on Thursday recommended the highest possible risk weighting — 1,250% — be applied to a bank's exposure to Bitcoin and some other cryptocurrencies. Under that suggestion, a bank would need to hold a dollar in capital for each dollar worth of Bitcoin, based on an 8% minimum capital requirement.
Source: Banking Dive
Other Key Fintech Developments:
- LemonEdge adding $2.5M round.
- Silvergate cuts ties with Binance.
- Money Minx to build finance tech.
- Regions agrees to buy EnerBank.
- BoA expanding digital payments.
- Stripe has added Stripe Tax tech.
- Messenger adds Venmo-like QR.
- State Street sets up a crypto unit.
- Webull is considering $400M IPO.
- Texas greenlights crypto custody.
- French, Swiss will run CBDC trial.
- Nude launches home buying app.
- Sunwest launches a new platform.
- Small Exchange intros pot futures.
- TreasurySpring has raised $10M.
- Ledger landed a $380M Series C.
- Unpacked: The fintech endgame.
- Warren looks for crypto regulation.
- Remitly has filed IPO paperwork.
- Clip secures $250M in new round.
- Fundbox partners up with Indeed.
- Arrington launches a $100M fund.
- CrossTower partners with Khalsa.
- Klarna has secured $639M round.
- Coinbase struck crypto 401K deal.
- Amex and Synchrony bid Amazon.
- Pacer ETFs passed $7B in AUM.
- Analysis: LATAM cryptocurrencies.
- Unbound Finance adds financing.
Watch Out For This: In the end, in running a successful company, egos must be removed.
That’s according to JR Rahn, who said MindMed requires leaders better equipped to pursue late-stage clinical trials and solve regulatory hurdles.
“It’s about removing oneself from necessarily what your ego tells you to do,” he said in a conversation on his commitment to making minds and bodies healthier. “The biggest thing I can do for MindMed, right now, is to realize that it needs a different type of leader, for the long haul. It is really for the best of the mission that is so deeply important to me.”
- Charge is investing in EV charging.
- AMC seeing a new path to stability.
- Fuel Ventures launches a VC fund.
- JPM sees a new BTC bear market.
- SEC freshens up market structure.
- Analysis: Global minimum tax hike.
- JPM: Inflation is not a threat today.
Market Moving Headline: Prices paid by U.S. consumers rose in May by more than forecast, extending a months-long buildup in inflation that risks becoming more established as the economy strengthens.
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