On Wednesday, the European Commission (EC) adopted the 2022 work programme of the European Innovation Council.
UK based Zopa has warned investors that defaults on high risk loans are rising; Zopa increased originations to high risk borrowers in 2016 and introduced their Zopa Core and Zopa Plus Products; the company originally expected default rates for 2016 at 4.14 percent but have revised that number to 4.93 percent; they also raised their estimates for 2017 loans to these borrowers to be 4.86 percent from 4.52 percent. Source.
Stablecoins have been a hot topic both on and off Capitol Hill. Earlier today, U.S. Treasury Secretary Janet Yellen pushed for regulation during an annual testimony in front of the Senate Banking Committee, at a time where Terra’s algorithmic stablecoin UST struggles to retain its peg. “New products and technology may present opportunities to promote...
A writer in a Bloomberg opinion article believes that the next financial crisis will have its roots in Silicon Valley, not Wall Street; author cites that fintech companies are vulnerable to rapid, adverse shocks compared to Wall Street banks because fintech firms are small and undiversified; article also shares that fintech companies are more difficult to monitor and that the fintech industry has not developed the set of unwritten norms and expectations that guide traditional financial institutions. Source
Every year LendIt Fintech co-founder Peter Renton reflects on his yearly predictions and provides predictions for the following year; in...
In an interview in Forbes, Bluevine CEO and Co-Founder Eyal Lifshitz, gives some background on the history of his company...
A new study by JD Power shows that most people, even digital first millennial customers, prefer to open bank accounts...
The new funding round brings the company’s total capital to $365 million; CloudWalk reaches a $2.15 billion valuation and becomes a unicorn
Hi there and welcome to Funded, where we spotlight early-stage bets on the future of tech. Today, we’re looking at...
Bram Cohen is looking to address the cost of electricity in bitcoin transactions; he invented BitTorrent, a peer to peer file transfer protocol and is launching a new company called Chia Network; according to TechCrunch, they plan to launch a cryptocurrency based on proofs of time and storage instead of bitcoin’s proofs which burn significant amounts of electricity. Source