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Weekly News Roundup - October 14, 2021


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This week's list of top stories in fintech:

Coinbase is launching its own NFT platform to take on OpenSea

  • NFT platform will launch by the end of year
  • Will make “​​minting, purchasing, showcasing, and discovering NFTs easier than ever.”
  • Will support ETH blockchain, no layer-2 integrations
  • Becoming competitive marketplace

NerdWallet IPO Filing Shows 21M Unique Visitors Per Month

  • Dropped S-1 last Friday
  • 2020 revenues of $245m
  • Seeking valuation of $5b
  • Showing strong revenue growth in 2021

Crypto Lender Celsius Network Raises $400M in Bid to Reassure Regulators

  • The investment gives the company a $3 billion valuation.
  • Last year they raised $30m at $120m
  • This is about credibility.
  • Regulatory trouble with KY, AL, NJ and TX

Tala grabs $145M to offer more financial services in emerging markets

  • Series E funding led by Upstart
  • Valuation north of $400m
  • Have served 6 million people with microcredit
  • Wants to become a full financial account
  • Plans to develop the first mass market crypto product for emerging markets

Crypto could cause 2008-level meltdown, Bank of England official warns

  • Deputy governor of BofE says crypto could cause a global financial crisis
  • Regulators should not overreact, now risks are limited
  • Questions whether major price corrections can be absorbed

Oportun pulls bank charter application, says it plans to refile

  • 22 consumer advocacy groups wrote for OCC head to wait until CFPB probe is completed
  • Has a large number of debt collection lawsuits
  • Partners with MetaBank to operate in 33 states
  • They remain committed to pursuing a bank charter

Bank Dora: The First Neo-Credit Union in the U.S.

  • Started by four east coast credit unions
  • Neobank strategy for credit unions
  • Launched last month
  • They are saying Bank is a verb
  • Will have full bilingual integration

New custom fintech stock market ticker launches

  • New ticker of 21 public fintech companies
  • Show rolling stock price on home page
  • Started in 1998 or later (year PayPal began)
  • Publicly traded in the US.

Jamie Dimon says bitcoin is ‘worthless’

  • Continues his negative view of bitcoin
  • But he will serve his clients who want to own bitcoin
  • He thinks “regulators are going to regulate the hell out of it.”
...more
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PitchItBy Todd Anderson