Quote To Start The Day: "You can’t depend on your eyes when your imagination is out of focus.”
Source: Mark Twain
One Big Thing In Fintech: Crypto exchange Binance US could go public, Binance CEO Changpeng "CZ" Zhao has said.
"Our partner in the U.S. is looking at the potential IPO [initial public offering] route," Zhao said on Friday at the "Redefine Tomorrow" event organized by SCB 10X — the venture arm of Thailand's oldest Siam Commercial Bank. The IPO route, however, "is not 100% fixed yet," he said.
Other Key Fintech Developments:
- Plaid taps former bank executives.
- Credit union regulator eyeing DeFi.
- Paystone raises $23.8M financing.
- JPM unlocked retail crypto access.
- Paystand adds $50M for payments.
- FIA Tech expands Atlantis platform.
- State Street is launching AlphaSM.
- State Farm looks to Invesco fintech.
- Uniswap restricts access to tokens.
- Thorchain hit by $8M hacking loss.
- Amazon hiring crypto product lead.
- FTX lowers limit on leverage trade.
- BNPL giant Klarna bought Stocard.
Watch Out For This: China’s crackdown on cryptocurrencies will probably intensify and may even lead to an outright ban on holding the tokens, according to Bobby Lee, one of the country’s first Bitcoin moguls.
- U.S. in wrong direction with COVID?
- Evergrande’s failure is stress tested.
- Clubhouse platform now out of beta.
- Trading apps make markets a game.
Market Moving Headline: After a short sell-off, volatility ebbs as equity index futures trade higher.
- Unpacking factors lending to the volatility.
- Jitters ahead of Federal Reserve meeting.
- Earnings outlook up. Priced to perfection?
- COVID-19 resurgence to not limit mobility.
- Analyzing tightening and the shift to fiscal.
Big Picture Perspectives: "The impressive growth in value across many asset classes is projected to taper off within the next couple of years as supportive policy is unwound. The 10-year Treasury yield will rise above 2% by 2022 and the fiscal tailwinds will also have faded by then.” - Moody's
For Next Week's Trade: Ahead of the upcoming Federal Reserve meeting, participants will want to temper their expectations on future volatility and focus their attention on where the S&P 500 trades in relation to the $4,384.50 low volume area (LVNode) pivot, a prior all-time high (ATH).
Source: Physik Invest
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