FinTech Weekly - Trump’s Wild Card - Issue #494

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Trump's return: high hopes, higher risks. Is fintech ready to play his game?

November 14, 2024

The 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.

What Trump's 2024 Victory Means for AI: Regulation in a New Era
What Trump's 2024 Victory Means for AI: Regulation in a New Era
— via OpenTools

The Fool. Trump’s election signals a rollback of Biden’s AI regulations, sparking fresh debates over AI’s future in the U.S. His administration plans to dismantle the 2023 Executive Order on AI security, shifting to state-led policies and lighter federal oversight. While tech companies could benefit from reduced compliance costs, questions remain on ethical risks like bias and misinformation. For businesses, Trump’s approach might mean less red tape, but the lack of cohesive AI standards could challenge consistent innovation.

Fraud Fight Club, Round II
Fraud Fight Club, Round II
— via https://www.fraudfightclub.com/

Fight Club is a high-energy, hands-on event where top fraud experts lead interactive sessions, tackling real-world challenges. With practical tools, collaboration, and a focus on action, it’s the ultimate event for fighting financial crime and staying ahead of fraud trends.

News: Affirm lands in the UK and what does Trump's election win mean for fintech?
— via 11:FS

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 anyway
— via MSN

The 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 Fed
— via MarketWatch

The 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 Efficiency
— via TechCrunch

The 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?
— via The Finanser

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.

Jobs

Regulatory PMO, MENASAT
Regulatory PMO, MENASAT
— via Binance

Binance is actively seeking an accomplished Strategy & Operations Lead to guide our expansion plans throughout the MENASA region.

Country Manager, France
Country Manager, France
— via Crypto.com

We are looking for a General Manager in France to oversee the budgets, licensing initiatives and operations of the local business units.

Crypto Product Manager I - Platform
Crypto Product Manager I - Platform
— via Coinbase

We are looking for goal-oriented, self motivated, Product Manager who thrives in a fast paced startup environment, comfortable with dealing with ambiguity, is able to think through complex challenges & align cross functional teams effectively to launch products.







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