Fintech Focus For July 26, 2021
Quote To Start The Day: “You can’t depend on your eyes when your imagination is out of focus.”
Source: Mark Twain
One Big Thing In Fintech: Crypto exchange Binance US could go public, Binance CEO Changpeng “CZ” Zhao has said.
“Our partner in the U.S. is looking at the potential IPO [initial public offering] route,” Zhao said on Friday at the “Redefine Tomorrow” event organized by SCB 10X — the venture arm of Thailand’s oldest Siam Commercial Bank. The IPO route, however, “is not 100% fixed yet,” he said.
Other Key Fintech Developments:
Plaid taps former bank executives.
Credit union regulator eyeing DeFi.
Paystone raises $23.8M financing.
JPM unlocked retail crypto access.
Paystand adds $50M for payments.
FIA Tech expands Atlantis platform.
State Street is launching AlphaSM.
State Farm looks to Invesco fintech.
Uniswap restricts access to tokens.
Thorchain hit by $8M hacking loss.
Amazon hiring crypto product lead.
FTX lowers limit on leverage trade.
BNPL giant Klarna bought Stocard.
Watch Out For This: China’s crackdown on cryptocurrencies will probably intensify and may even lead to an outright ban on holding the tokens, according to Bobby Lee, one of the country’s first Bitcoin moguls.
U.S. in wrong direction with COVID?
Evergrande’s failure is stress tested.
Clubhouse platform now out of beta.
Trading apps make markets a game.
Market Moving Headline: After a short sell-off, volatility ebbs as equity index futures trade higher.
– Unpacking factors lending to the volatility.
– Jitters ahead of Federal Reserve meeting.
– Earnings outlook up. Priced to perfection?
– COVID-19 resurgence to not limit mobility.
– Analyzing tightening and the shift to fiscal.
Big Picture Perspectives: “The impressive growth in value across many asset classes is projected to taper off within the next couple of years as supportive policy is unwound. The 10-year Treasury yield will rise above 2% by 2022 and the fiscal tailwinds will also have faded by then.” – Moody’s
For Next Week’s Trade: Ahead of the upcoming Federal Reserve meeting, participants will want to temper their expectations on future volatility and focus their attention on where the S&P 500 trades in relation to the $4,384.50 low volume area (LVNode) pivot, a prior all-time high (ATH).
Source: Physik Invest
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