SEC’s GameStop report questions ‘game-like’ trading apps - The highly anticipated SEC report attributed the episode primarily to a rapid increase in trading by individual investors, many of whom used social-media platforms like Reddit to swap ideas and strategies. The agency poured cold water on a number of alternative hypotheses for why the struggling videogame retailer’s share price soared from less than $20 at the end of 2020 to an intraday high of $483 on Jan. 28. Read more
Axie Infinity’s $1.2b annualized revenue overtakes Candy Crush’s 2020 total revenue - Axie Infinity, one of the largest play to earn blockchain gaming by market cap now, has overtaken popular mobile gaming app Candy Crush’s 2020 total realized revenue. Read more
Mastercard bets on supply chain finance despite Greensill collapse - Mastercard has partnered with British financial technology company Demica to offer supply-chain finance to its business clients, showing the continued strength of demand for the lending product even after the collapse of Greensill Capital. Read more
More than 100,000 people have had their eyes scanned for free cryptocurrency - More than 100,000 people have had their eyes scanned in return for a cryptocurrency called Worldcoin, as a project to distribute digital money more widely around the world accelerates. Read more
Deutsche Bank whistleblower paid $200m in record reward - The Commodity Futures Trading Commission has awarded almost $200m to a former Deutsche Bank employee who raised concerns about the manipulation of the Libor interest rate benchmark, marking the largest-ever payment under US whistleblower programs. Read more
The super-rich are forming a new exclusive club - For $180,000, a three-year membership includes investment opportunities, access to West Point generals, confidential support groups and private getaways. Read more
Stablecoins could reshape short-term debt markets, Fitch says - In the next few years, the stablecoin industry could potentially rival traditional money market funds for influence in the commercial paper sector, the ratings company said in a note. Stablecoins may also be disruptive for commercial paper markets if investors lost confidence in the tokens, Fitch warned. Read more
First bitcoin futures ETF rises in trading debut - The ProShares Bitcoin Strategy ETF climbed most of the day, gaining nearly 5% to settle at $41.94. About $981 million of shares changed hands over the session, making it the second-most highly-traded ETF debut ever, according to Elisabeth Kashner, director of ETF research at FactSet. Read more
Facebook’s Novi taps Paxos, Coinbase ahead of Diem rollout - Facebook’s Novi wallet is ready to launch – but it won’t be launching with the Diem (formerly Libra) stablecoin. Novi, Facebook’s digital wallet subsidiary, will go live in the U.S. and Guatemala in a pilot program, allowing users to start trading the Paxos Dollar (USDP), the social media giant announced this week. Crypto exchange Coinbase will provide custody services for the program. Read more
Crypto traders to blame for surging sales of small tungsten cubes - The hottest meme asset currently isn’t the stock of a struggling retail store, and it’s not an Ethereum token with a cute puppy mascot. Instead, crypto traders have contributed to a 3x to 6x surge in sales of small tungsten cubes, which weigh several pounds despite being only a few cubic inches. Read more
Cboe agrees to acquire ErisX, entering digital asset space with spot, derivatives and clearing platform - Ownership of ErisX presents a unique opportunity for Cboe to enter the digital asset spot and derivatives marketplaces through a digital-first platform developed with industry partners to focus on robust regulatory compliance, data and transparency. Read more
Starbucks eyes cashierless stores with help from Amazon - Starbucks has been in talks with Amazon to make a new kind of coffee shop with Amazon’s “Just Walk Out” technology, allowing customers to purchase items without going through a regular checkout. Read more
HSBC calls in magician Troy von Scheibner to raise fraud awareness - As Black Friday approaches, HSBC has enlisted magician Troy von Scheibner to show Brits how fraudsters play mind games designed to gain victims' trust and pressure them into handing over personal information. Read more
Santander's Getnet valued at $1.32b in trading debut - Santander spun off and listed Getnet Brasil, previously controlled by Banco Santander Brasil SA, in a bid to unlock additional value for its shareholders. Getnet is now part of Santander's global payments company PagoNxt. Read more
Brex announces API and Zapier partnership to automate payments, transactions, and more - This new open API is available to all Brex customers, free of charge. The Brex API allows customers to seamlessly manage financial information in a customizable interface, thereby saving time, reducing errors, and better meeting the needs of their own customers and vendors. Read more |
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