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Coinbase Faces Backlash on No Politics at Work Stance, Fintechs Should Sell Financial Health Not Financial Services, Us Charges Bitmex for Failing To Prevent Money Laundering

Hey you! This week we look into the backlash emerged from Coinbase CEO saying no to politics at work,
Issue #75  •  October 5  •  View online  •  Suggest a link
Fintech
Fintech
Sharing with you relevant and exciting utilization of a number of innovative technologies, be it disruptive or sustaining to the existing financial services industry.
Hey you!
This week we look into the backlash emerged from Coinbase CEO saying no to politics at work, at a new direction needed for fintech firms, at the U.S. prosecutors that filed criminal charges accusing founders and executives of BitMEX of evading rules designed to stop money laundering, and much more.
If you like this newsletter, remember to share the love and tell your fellow fintech enthusiast friends to sign up here.
Happy reading,
This Week in Fintech
U.S. prosecutors on Thursday filed criminal charges accusing four founders and executives of BitMEX, one of the world’s largest cryptocurrency derivatives exchanges, of evading rules designed to stop money laundering.
uk.reuters.com   •   Share

After the chief executive of cryptocurrency startup Coinbase banned some forms of political speech in the workplace, a number of other Silicon Valley leaders spoke up with to challenge – or applaud – his decision.

Funding, Merger & Acquisitions
Bitpanda, a crypto assets platform, has closed a $52 million Series A funding round from Valar Ventures, a venture capital firm backed by Peter Thiel. Vienna-based VC Speedinvest also participated, alongside other unnamed investors. Claiming 1.3 million users, Bitpanda has previously been trading digital assets and tokenizing precious metals.
techcrunch.com   •   Share

Kakao Pay is set to be the first South Korean FinTech working with mobile payments to undertake an IPO. The company is likely to be valued at $8.5 billion.
www.pymnts.com   •   Share

QUIN, a Berlin-based investment advisory service, has raised €1 million in seed funding to provide a non-custodian platform empowering people to invest safely and rationally. The round was led by sino AG, other investors include Runa Capital, APX and a number of angel investors.

Something More for You to Read
Fintechs should stop providing financial services and start providing financial health. This may seem to be just another buzzword for embedded finance strategists, but I think it is more than that. It’s a way of thinking about the next generation financial sector.
www.forbes.com   •   Share

A new report from Deloitte highlights that, despite some progress, women remain generally underrepresented in the fintech sector.

The fintech industry expects financial services to increasingly be embedded into nonfinancial platforms over the next decade.

In the middle of a pandemic when customers are often wearing plastic gloves to stores alongside their face masks, Amazon’s physical retail team is introducing a new biometric device that will allow shoppers to pay at Amazon Go stores using their palm.
techcrunch.com   •   Share

We initiate coverage on Square and see its current share price as a good entry point for investors who want exposure to a winner in the fast-growing fintech sector.

It’s 2020, we’re in the midst of a global pandemic and in and out of lockdown, Kanye West (with Elon Musk’s blessings) tried to run for president, and the word ‘cryptocurrency’ is no longer a niche reserved only for people within the tech sphere.
thenextweb.com   •   Share
Techstars Startup Digest Fintech is curated by:
Alessandro Ravanetti Alessandro Ravanetti - Freelance content writer and copywriter. Working in the fintech industry since 2011, I built and managed digital companies with distributed teams and international partners, gaining experience with both startups and large corporations. I am an independent expert with the European Commission, FundingBox and the Eureka Network, and an advisory board member of SXSW.
alessandro.ravanetti@startupdigestmail.com
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