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.
- 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
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