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Hi all, Julie here.

Sitting here on the edge of my seat waiting for this Robinhood IPO pricing to get announced. Tomorrow could get super interesting with the high retail allocation, but FTT Expert Charley Ma and I will be keeping you posted if you’re an FTT+ subscriber! Watch out for our coverage in your inbox :)

In other exciting news. Had the final walk through this morning! Tested every appliance, turned on water everywhere, etc. It all still works, yay! We close on Friday and start the move on Saturday :)

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Company News

PayPal Earnings

PayPal reported earnings after the bell today, and while people are still doing a ton of shopping online and EPS for the second quarter was a slight beat, revenue came in below expectations and guidance also missed. The stock was down about 7% in after hours trading while I was writing this.

Funding and Deals

Lithic To The Moon

Lithic, a company we’ve talked about recently for their rebranding, their funding round and on the podcast, has announced yet another funding round because why not. The payments startup formerly known as Privacy.com raised another $60M. With the card issuing space en vogue at the moment, the team is using the fresh funds to hire, acquire, and look at expanding internationally. The company said that since January, transaction volumes have quadrupled to more than $1B in annual processing volume.

Eco’s New Round

Apparently $60M is the magic number in funding announcements for this newsletter, since that’s the amount Eco announced as well. It last raised in March, but since then, the company launched an all-in-one wallet for saving and spending and building out other features focused on making money “smarter.” That’s a pretty ambitious goal, so I guess it makes sense that it’s gonna need more money to build it, and that investors are super excited to back what could be a massive company.

Visa’s BNPL API

Visa waded further into the Buy Now Pay Later space with a new API that let’s clients offer installments. It was unclear from the coverage if this new product would be available at the point of sale or if it would happen after the purchase has been made. Perhaps it’s the latter and that’s why Affirm’s stock wasn’t falling on the news.

Crypto Watch

Binance’s Continued Troubles

Crypto exchange Binance has had a wild few weeks with regulators, and now it’s looking for a new CEO. Regulators from Thailand to the US have issued warnings, with Thailand’s Securities and Exchange Commission even filing a criminal complaint against the exchange. It appears the company is now trying to play by the rules a bit more, and hoping even though it might be too late for its CEO, that it’s not too late for Binance as a whole.

Together With LendIt Fintech Nexus

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Then you need to be there. Learn more and apply to join here!​

Congrats to one of the first people I met in fintech and good friend Joe Ziemer of Betterment on wrapping up nearly a decade at the company and venturing out into something new! Wishing you all the best :)

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Julie VerHage-Greenberg is the co-founder of Fintech Today, where she focuses on editorial content and brand. Prior to joining, she was Bloomberg’s first fintech reporter, covering Robinhood from before it was a billion dollar company, breaking the news that Plaid was acquiring Quovo, and interviewing executives on Bloomberg TV and at several large conferences.

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