News & Articles

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Hindenburg Research, a noted short-seller, has turned its attention to Jack Dorsey’s Block. The claims have succeeded in driving down Block’s stock price by 20% so far today (March 23, 2023). Amongst other statements, they say “The ‘magic’ behind Block’s business has not been disruptive innovation, but rather the company’s willingness to facilitate fraud against consumers and […]

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Posted on March 14, 2023 by

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The Guardian reports that Moody’s Corporation has placed 6 more banks under review: First Republic; Zions Bancorporation; Western Alliance Bank; Comerica Bank; UMB Bank; and INTRUST Bank. This follows the collapse of both Signature Bank and SVB. https://www.theguardian.com/business/2023/mar/14/silicon-valley-bank-lawsuit-fraud-shareholders?utm_term=64106fe62118adfd945f485ee648d94d&utm_campaign=GuardianTodayUS&utm_source=esp&utm_medium=Email&CMP=GTUS_email

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https://www.fdic.gov/news/press-releases/2023/pr23016.html

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Trading is halted on Silicon Valley Bank stocks after they plunged over 60% on March 9th, and another 20% in after-hours activity. If SVB fails, it will likely prove fatal to some of the fintechs who have deposited their operating funds in the bank. https://news.fintechnexus.com/silicon-valley-bank-fear-to-shake-the-system/?utm_source=feedotter&utm_medium=email&utm_campaign=FO-03-10-2023&utm_content=httpsnewsfintechnexuscomsiliconvalleybankfeartoshakethesystem

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-Installment Loans of $6 billion in Q4 2022 -Credit Card Loans of $16 billion in Q4 2022 -79% of loans issued to consumers with FICOs of 660 or greater -21% of loans issued to consumers with FICOs below 660 https://www.pymnts.com/digital-first-banking/2023/goldmans-detour-from-main-street-consumers-shows-challenges-of-digital-banking?utm_source=Sailthru&utm_medium=email&utm_campaign=Main%20NL%2003/01&utm_term=Main%20Newsletter

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One year ago, Australian BNPL firm Zip, which was founded by current CEO Larry Diamond in 2013,  purchased Sezzle as part of its global expansion.  Now, Zip is leaving  10 of its 14 global markets.  They will remain operational only in Australia, New Zealand, the USA, and Canada, in a bid to attain positive cash […]

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https://www.pymnts.com/bank-regulation/2023/goldman-sachs-reveals-multi-agency-credit-card-probe/

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Fintech – The United States

Posted on February 23, 2023 by

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https://www.statista.com/outlook/dmo/fintech/united-states The market’s largest segment will be Digital Payments with a total transaction value of US$2,041.00bn in 2023. The average transaction value per user in the Alternative Financing segment is projected to amount to US$179.80k in 2023. The Digital Investment segment is expected to show a revenue growth of 25.4% in 2024. In the Digital […]

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Do Kwon, co-founder of Terraform Labs, has been on the run since the collapse of Terra USD (a purported “stablecoin”) in May 2022.  He faces new charges from the US Securities and Exchange Commission, for actions that SEC Char Gary Gensler says demonstrate the lengths to which “crypto firms will avoid complying with the securities […]

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Buy now pay later financing had auspicious beginnings in the United States. This included an industry growth of 230% from January 2020 through July 2021, thanks to the global pandemic and growing need for households to split costs over time. In fact, BNPL made up 2.4% of all online retail purchases and 12% of U.S. […]

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