Fintech Today - FTT Update: #QuarantineDAO
Hi all, Julie here.
So, guess who’s staying in Texas for Christmas…
Yup, Momma VerHage has contracted Covid (doing totally fine thankfully), and things just seem to be getting worse across the country so we’re canceling the trip for now. Really a huge missed opportunity in naming this latest variant Omicron and not Grinch. If you’re also sitting at home with nothing to do anymore, check out the latest episode of Tux Time with Emmalyn Shaw of Flourish Ventures and the final episode out Monday morning with two members of Constitution DAO.
December 16th 2021
|
Today's Partner, Fintech Meetup
500+ Organizations have already signed up for Fintech Meetup, the world’s largest fintech meetings-only event! That’s right - no speakers or content….just 30,000+ double opt-in online meetings that result in Leads, Deals, Partnerships and Funding. It’s the easiest way to meet the people who’ll help accelerate your business in 2022!
Here are just some of the organizations already signed up:
- Fintechs including Akoya, Alloy, Alviere, Argyle, Autobooks, Azimuth, BitPay, BlockFi, Botdoc, Certa, Checkout.com, Circle, FISPAN, MANTL, Novi, Nuance, Nymbus, Onyx, Ripple, Signal Intent, Sila, Socure, Synctera, Urban FT, Zero Hash (to name just a few!)
- Banks including Bank of America, Citi, Federal Reserve, Goldman Sachs, HSBC, J.P. Morgan, Santander, Wells Fargo & 75+ others
- Neobanks including Dave, First Boulevard, Revolut & Varo Bank and more
- Credit Unions (125+ of them already signed up!)
- Investors including Bain Capital, Commerce Ventures, General Atlantic, Mosaik Partners, Next Level Ventures, Point 72 Ventures, Tribeca Venture Partners, Vestigo Ventures & more
- Networks including American Express, Discover, Mastercard & Visa
- Plus Solution Providers, Community Banks, Tech Cos, Retailers & Merchants, Media and more!
Online, March 22-24. Startup rate available for qualifying cos. Get Your Ticket Now!
Company News
Bad Week for My Affirm Stock
Thankfully I’m still in the green, but the CFPB took away some of my Affirm gains this year with news that it’s opening an inquiry into popular BNPL programs Affirm, Afterpay, Klarna, PayPal and Zip. This news didn’t surprise anyone that watches the space closely, but that didn’t mean it was priced into the stocks either. From the statement:
“Buy now, pay later is the new version of the old layaway plan, but with modern, faster twists where the consumer gets the product immediately but gets the debt immediately, too,” CFPB Director Rohit Chopra.
Astra and RTP
Congrats to our friends at Astra on getting another step closer to making real time payments a reality! In partnership with Cross River Bank, the team has launched instant account to account transfers, where users can fund accounts instantly from a debit card. This new instant payment API gives fintech developers the ability to easily embed card-to-card transfers into their own application and the funds are instantly applied to the destination card. Pretty cool if I say so myself. No gas fees either (iykyk).
Funding and Deals
MoneyLion Buys Even Financial
This deal had a lot of us scratching our heads this week. MoneyLion, who’s market cap is around $800M, is buying B2B Fintech Even Financial as part of a deal worth up to half of that (supposedly). This is where it gets tricky: it’s using a convertible financing structure that values MoneyLion at its initial public offering (IPO) price of $10 per share (it’s currently trading below $4), and the company will provide an upfront payment of $360M for the Even Financial acquisition. The additional $80M could be paid if Even Financial meets revenue targets, according to the announcement.
Crypto Watch
Bankers Looking At Accepting Crypto As Payment
The CEO of investment bank LionTree, Aryeh Bourkoff, said he’s looking at ways to potentially accept crypto as payment for services. Don’t expect this change to happen in the coming weeks though. He went on to say that while cryptocurrencies hold the potential of fulfilling the internet’s promise of empowering individuals, there are hurdles to overcome first. These include creating platforms that are easier to use and understand so it reaches a broader population.
Send Gifts to $jewlz328
Procrastinating or supply chain issues got you in a scramble for a gift? Look no further than Cash App. It’s rolling out a new feature that will allow users in the U.S. to send Bitcoin, as well as traditional stocks, as gifts to other U.S. Cash App users via their cashtag. Problem solved.
Adidas NFTs
The athletic apparel company is launching a line of NFTs called Into the Metaverse. Holders of the tokens will be able to purchase special merch drops and help to shape what kinds of products and experiences the company puts together. They will sell for 0.2 ETH, or about $800 USD, starting December 17th through Adidas’ website. The company declined to share how many NFTs would be sold, citing “security protocols.”
Advisory Principal, FS Vector
Advisory Associate, FS Vector
Join our friend and FTT Expert John Collins at FS Vector! The team is looking for an Advisory Principal and Advisory Associate to join it in DC. Members of the Advisory team support the practice by leading various projects, building client relationships, and delivering other value-add services. As a member of the team, you’ll work closely with clients and internal subject matter experts to advise them on important matters, conduct research on key issues, draft client deliverables, and otherwise contribute to successfully meeting client goals and objectives. Team Members must stay up-to-date on key issues, regulations, technology innovation, and general trends across the fintech ecosystem. Hence why John is always dropping knowledge in our newsletter ;) If interested, click the links above to apply!
Share Fintech Today, get exclusive rewards!
Have friends who'd love our newsletter too? Give them your unique referral link (below) and the first 5 people to refer 5 new subscribers will win a FTT hat this week!
PS: You have referred 0 people so far
|
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.
113 Cherry St #92768, Seattle, WA 98104-2205
Older messages
FTT+ Expert Charley Ma on the Future of Insurtech
Thursday, December 16, 2021
Hi everyone, Charley here. I've recently been spending more time trying to get a better understanding of the insurance value chain, and thought it'd be interesting to share some of my
FTT Update: Fintech Bae's 15 Seconds As A Billionaire
Wednesday, December 15, 2021
Hi all, Julie here. Quick programming note: this is our final week of newsletters for 2021! Also, I'm super excited to sit down with two members of Constitution DAO tomorrow to record a podcast
FTT Guest Post: De-Risking Consumer Lending (pt.1)
Tuesday, December 14, 2021
Hello FTT faithful, I'm Ryan. Long time reader, first time guest poster. I co-founded Truework (think modern credit bureau, starting with income and employment data) in 2017 after seeing how
FTT Update: Another Crypto Hack
Monday, December 13, 2021
Hi all, Julie here. I'm in a sassy mood today, so brace yourselves for this newsletter. The Christmas party was a success on Friday. New podcast is out today with Stripe's Head of EMEA Matt
FTT Update:
Friday, December 10, 2021
Hi all, Julie here. It really is Friday this time! Phew. Jordan (aka Fintech Bae) and I are excited to be hosting a Holiday Dinner Party at our house tonight. I'm cooking and a few of the
You Might Also Like
This woman made investing history
Thursday, March 28, 2024
And so can you.
The Simple Solution Worth Billions to Walmart and Amazon
Thursday, March 28, 2024
The following is a third-party sponsored message. It should not be considered a recommendation or endorsement by HS Dent Publishing. Dear Investor, In warfighting, there's a saying: "Amateurs
Markup matters: monetary policy works through aspirations
Thursday, March 28, 2024
Tim Willems and Rick van der Ploeg Since the post-Covid rise in inflation has been accompanied by strong wage growth, interactions between wage and price-setters, each wishing to attain a certain
🇯🇵 Japan's latest low
Wednesday, March 27, 2024
Visa and Mastercard cut merchants some slack | Japan's yen hit a 30-year low against the US dollar | Finimize TOGETHER WITH Hi Reader, here's what you need to know for March 28th in 3:14
‘Out of the blue’ correction
Wednesday, March 27, 2024
Bloomberg Evening Briefing View in browser Bloomberg With a number of market watchers warning of a bubble, traders are increasingly on the lookout for signs of the cliff's edge. But if you ask
🗺️ Your guide to a finance mega-trend
Wednesday, March 27, 2024
Plus, “money dysmorphia” and how to choose between a 401(k) and IRA. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
How to keep your crypto gains more secured
Wednesday, March 27, 2024
Don't risk losing your savings to hackers. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Issue #231: Why some people don’t have bank accounts
Wednesday, March 27, 2024
plus speed puzzling + the quad God ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Harry's Take 3-27-24 Expecting a Deeper Recession
Wednesday, March 27, 2024
image Harry's Take March 27, 2024 Each Recession Since 1990 Has Been Deeper The 1990 recession was small and shallow. The great Baby Boom economic explosion began in 1983, anticipated by the 1982
Another reason to care about investment taxes
Wednesday, March 27, 2024
Alex Kontoghiorghes Do lower taxes lead to higher stock prices? Do companies consider tax rates when deciding on their dividend pay-outs and whether to issue new capital? If you're thinking '