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Thu. 10 Jun 2021, 5:51pm ETBenzinga
In: Fintech

Quote To Start The Day: "As my knowledge of things grew I felt more and more the delight of the world I was in.”
Source: Helen Keller

One Big Thing In Fintech: The Basel Committee on Banking Supervision on Thursday recommended the highest possible risk weighting — 1,250% — be applied to a bank's exposure to Bitcoin and some other cryptocurrencies. Under that suggestion, a bank would need to hold a dollar in capital for each dollar worth of Bitcoin, based on an 8% minimum capital requirement.

Source: Banking Dive

Other Key Fintech Developments:

  • LemonEdge adding $2.5M round.
  • Silvergate cuts ties with Binance.
  • Money Minx to build finance tech.
  • Regions agrees to buy EnerBank.
  • BoA expanding digital payments.
  • Stripe has added Stripe Tax tech.
  • Messenger adds Venmo-like QR.
  • State Street sets up a crypto unit.
  • Webull is considering $400M IPO.
  • Texas greenlights crypto custody.
  • French, Swiss will run CBDC trial.
  • Nude launches home buying app.
  • Sunwest launches a new platform.
  • Small Exchange intros pot futures.
  • TreasurySpring has raised $10M.
  • Ledger landed a $380M Series C.
  • Unpacked: The fintech endgame.
  • Warren looks for crypto regulation.
  • Remitly has filed IPO paperwork.
  • Clip secures $250M in new round.
  • Fundbox partners up with Indeed.
  • Arrington launches a $100M fund.
  • CrossTower partners with Khalsa.
  • Klarna has secured $639M round.
  • Coinbase struck crypto 401K deal.
  • Amex and Synchrony bid Amazon.
  • Pacer ETFs passed $7B in AUM.
  • Analysis: LATAM cryptocurrencies.
  • Unbound Finance adds financing.

Watch Out For This: In the end, in running a successful company, egos must be removed.

That’s according to JR Rahn, who said MindMed requires leaders better equipped to pursue late-stage clinical trials and solve regulatory hurdles.

“It’s about removing oneself from necessarily what your ego tells you to do,” he said in a conversation on his commitment to making minds and bodies healthier. “The biggest thing I can do for MindMed, right now, is to realize that it needs a different type of leader, for the long haul. It is really for the best of the mission that is so deeply important to me.”

Source: Benzinga

Interesting Reads:

  • Charge is investing in EV charging.
  • AMC seeing a new path to stability.
  • Fuel Ventures launches a VC fund.
  • JPM sees a new BTC bear market.
  • SEC freshens up market structure.
  • Analysis: Global minimum tax hike.
  • JPM: Inflation is not a threat today.

Market Moving Headline: Prices paid by U.S. consumers rose in May by more than forecast, extending a months-long buildup in inflation that risks becoming more established as the economy strengthens.

Source: Bloomberg