FinTech Weekly - The U.S. Is Being Tested - Issue #417

The CEO of 10X Banking, Antony Jenkins, affirmed that banks are “museums of technology”. The CEO went on saying that banks had never focused on technology before 2008 (the year of the global financial crisis).

Yassine Elmandjra, analyst at ARK Invest, said that the US lacks credible institutions related to the crypto space. According to the analyst, the United States might lose the race to become crypto hubs and industry leaders. On the contrary, countries like Australia, Switzerland and the United Arab Emirates, are constantly enhancing their skills and positions in the market.

Maybe as an answer to the current status of the United States for what concerns cryptocurrencies, Coinbase – which is the largest crypto exchange in the US, launched a new ad campaign to highlight the advantages of blockchain and cryptocurrencies. The national campaign’s title is Crypto: Moving America Forward.

The US debt ceiling becomes an increasingly tough topic, since the deadline of June 1 is closer. According to Treasury Secretary Yellen, after that date the US won’t be able to pay its bills. But Goldman Sachs experts say that the date could be set a week later.

The Swiss-based YouHodler, a Web3 platform focused on providing fintech solutions, announced a new set of B2B2C offerings at the 2023 Crypto Valley Conference.

London has become a fintech hub. Thanks to the experience and skills acquired over time, also regulators started having more elements to scrutinize. Now, the fintech matter might become too politicized.

In this article, FinTech Weekly analyzes the current status of AI ethics – and why it’s so important to develop ethical artificial intelligence right now.