Quote To Start The Day: “Our enemies are innovative and resourceful, and so are we. They never stop thinking about new ways to harm our country and our people, and neither do we.”

Source: President George W. Bush

One Big Thing In Fintech: The COVID-19 pandemic accelerated acceptance of digital currencies like Bitcoin and the underlying blockchain technologies that power them. And while Bitcoin volatility continues — with the currency hitting its lowest point in months this week — investors are optimistic momentum will continue even as the world slowly starts to return to normal.

Source: Crunchbase

Other Key Fintech Developments:

Watch Out For This: The cost of living in dense technology hubs like San Francisco, among others, outpaced Detroit, nearly 88%. That according to EntryPoint’s 2021 Detroit Entrepreneurial Ecosystem Report.

In unpacking why Detroit is an attractive location for entrepreneurs to locate, live and launch their companies, Benzinga spoke with Jared Stasik of Detroit Venture Partners (DVP).

Source: Benzinga

Interesting Reads:

Market Moving Headline: Beijing is taking advantage of a strengthening economy and stable financial markets to toughen up its corporate sector. The result is a repricing of risk that should discourage the kind of reckless debt-fueled expansion that inflated some companies to a dangerous size. The spawning of such bloated empires created a threat to the financial system as well as a challenge to President Xi Jinping’s grip on power.

Source: Bloomberg