FinTech Weekly - Trump’s Wild Card - Issue #494
Trump's return: high hopes, higher risks. Is fintech ready to play his game?November 14, 2024The wild card. Trump’s return to the White House has unleashed a wave of uncertainty across fintech, banking, and cryptocurrency. With promises of deregulation, fiscal shifts, and ambitious partnerships, his administration could reshape the landscape—potentially igniting opportunities while fueling new risks. From AI regulation rollbacks to the explosive response in crypto markets, Trump’s bold moves may usher in innovation but also deeper volatility. How will these changes play out? Join FinTech Weekly as we dive into the unpredictable road ahead for finance and technology under Trump's latest policies. |
News: Affirm lands in the UK and what does Trump's election win mean for fintech?The Hierophant. As Trump’s victory reverberates through financial services, industry insiders, including Laura Watkins and Benjamin Ensor, weigh in on the potential impacts. With discussions spanning Affirm’s entry into the UK, Barclays’ acquisition of Tesco Bank, Klar’s IPO ambitions, and NatWest and Mastercard’s new business card solutions, the industry looks ahead. Trump’s stance could mean fewer regulatory hurdles, potentially unlocking further expansion opportunities for fintechs domestically and abroad. |
A Trump bitcoin promise is what crypto fans once fought against. They love it anywayThe Wheel of Fortune. Bitcoin’s value surged post-election, propelled by Trump’s pro-crypto stance. His promises to “normalize” crypto, potentially firing SEC Chair Gary Gensler and creating a national bitcoin reserve, have fueled market optimism. While this approach legitimizes digital assets, it raises ideological contradictions in a traditionally decentralized sector. If Trump’s crypto vision takes hold, businesses in this space might see broader acceptance, though volatility could challenge stability. |
How Trump will transform banking regulation — even with Powell at the FedThe Emperor. Trump’s election brought an 8% surge in bank stocks, spurred by expected regulatory relief and potential tax cuts. The Republican Senate majority could clear a path for relaxed regulations, encouraging loan growth and more M&A activity. For banks, this means an optimistic outlook with room for increased earnings, yet the long-term effects of reduced oversight remain uncertain, especially as some regulatory shifts may take years to unfold. |
Donald Trump announces Elon Musk will co-lead Department of Government EfficiencyThe Magician. Trump’s appointment of Elon Musk to co-lead the new Department of Government Efficiency (DOGE) signals a bold step toward restructuring federal agencies. DOGE, working closely with the White House but without legislative funding, aims to cut bureaucratic spending by up to $2 trillion. For businesses, the promise of a leaner government could reduce operational complexities, but the full scope of this plan and its real-world impact on the economy are yet to be seen. |
What does Trump’s victory mean for banks, tech, fintech and the future?The Tower. Experts predict that Trump’s fiscal policy changes could drive market volatility, with tax cuts likely to benefit equities and banks. But climate commitments may take a back seat, impacting global sustainability efforts. In fintech, the prospect of fewer regulations could mean more neobank launches, though this comes with increased competition and potential risks. For business leaders, this presidency may be marked by opportunities as well as heightened uncertainties in sustainability and policy. |
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Regulatory PMO, MENASATBinance is actively seeking an accomplished Strategy & Operations Lead to guide our expansion plans throughout the MENASA region. |
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