Fintech Focus For September 15, 2021

Quote To Start The Day: “Anything we decide to do or any outward expression of behavior will be consistent with what we believe.”

Source: Mark Douglas

One Big Thing In Fintech: Securities and Exchange Commission chairman Gary Gensler indicated Tuesday that crypto lending and staking platforms that hold custody of user funds could fall under U.S. securities laws and, as a result, his agency's oversight.

Source: The Block

Other Key Fintech Developments:

• Steve Cohen backing a crypto firm.
• Citi led $15M round for Amberdata.
• CaixaBank boosts digital capability.
• MODIFI added $24M in a Series B.
• Peach Finance added $20M round.
• Weave adds QuickBooks integration.
• SellersFunding adds $166.5M funds.
• Pagaya nears new $9B SPAC deal.
• Remitly aims to raise $332M in IPO.
• Melio secures a $250M investment.
• QED closes on $1.05B fintech funds.
• Envoy Mortgage selected Reggora.
• Fiserv, GalaxE focus on Milwaukee.
• Fireblocks is opening up new offices.
• Intuit to acquire Mailchimp for $12B.
• Modifi secures $24M in new funding.
• Xendit a unicorn with $150M round.
• Embroker launches insurance offer.
• Sproutt adds $26M for Life Insurance.
• Jump Trading fully public on crypto.
• Integrated Finance adds seed fund.
• DRL landed a $100M Algorand deal.
• Solana hitting transaction problems.
• Nubank and Creditas partnering up.
• Square entered in patent pact, OIN.

Watch Out For This: North Korea fired two unidentified ballistic missiles into waters off the east coast of the Korean Peninsula on Wednesday, according to South Korea's Joint Chiefs of Staff.

Source: CNN

Interesting Reads:

• 28-yr-old sold $250M in shapewear.
• Xi declines Biden in-person meeting.
• China EV is poised for consolidation.
• Governor Newsom beats recall effort.
• China weakening on delta outbreak.
• Vision for decentralized social media.

Market Moving Headline: We are optimistic that the secular bull market for equities still has room to run, but we see the potential for near-term choppiness. A variety of emerging macroeconomic risks should be monitored by investors as we head into the end of the year.

Source: Merrill Lynch