FOMO in The World of Meme
Failing to act immediately on a new investment might lead them to miss a good opportunity, they believe.
Rick Steves
Senior Reporter, Regulation and Fintech
Rick Steves has seen business and economics through many lenses. He joined the financial services industry in 2009, and has been a financial journalist since 2011. He holds a degree in Business Administration and has experience producing real-time news, from both buy-side and sell-side, as well as for retail traders, brokers and service providers. Steves' work has appeared in a variety of online publications including FX Street, NewsBTC, FinanceFeeds, and The Industry Spread. Rick has great interest in the dynamics of the trading industry. The never-ending clash between technology, economics, regulation, and more importantly, the people.
March 2021
Japan to Review ESG Rules After $9.4b Fund Greenwashing
The Financial Services Agency, Japan's financial watchdog, has announced it will initiate an industry-wide review of the ESG rules.
Integral Survey: Cloud to Take Over in The Next 5 Years
Integral has conducted a survey of 94 heads of FX trading and senior FX managers which highlighted the prominent role of the cloud in the future.
StoneX and The “Nation’s Only Disabled and Woman-Owned Investment Firm”
StoneX Group has acquired a minority stake in Tigress Financial Partners.
Goldman Sachs Re-Enters Crypto Arena
Goldman Sachs is relaunching its cryptocurrency trading desk in mid-March 2021 after a three-year hiatus due to regulatory concerns.
February 2021
SEC Fights Off 15 ‘Meme Stocks’ for Questionable Trading
The regulator has recently identified nearly two dozen securities targeted for potential attempts to exploit investors through social media platforms.
Robinhood Crypto boasts 6 million new customers in 2021 as Coinbase announces IPO
The average transaction size is around $500 so far this year. About two times the average figure in 2020.
Modulus Announces Blockchain-as-a-Service for Decentralized Verification and Tracking
Modulus uses decentralized blockchain authentication to prove the origin, authenticity, and integrity of any product via immutable digital records.
Tether Market Cap Soars Despite New York Ban
Stablecoins are the cryptocurrency as they are supposedly backed by the USD in a one-to-one ratio, although Tether was just banned from NY.
Legacy Systems Don’t Come Cheap: NAB Sued for Overcharging Customers
Legacy systems are more prone to errors and reduce productivity, which may reflect in lower customer retention rates.
ASIC: Immunity for Criminals Assisting Law Enforcement
The new policy will ensure whistleblowers are provided with immunity from both civil penalty and criminal proceedings despite their wrongdoings in the past.
Jack Dorsey’s Square Buys $170m Worth of Bitcoin
Square first bought $50 million worth of Bitcoin in October 2020, just before it shot up from $10,000 to the $50,000 area it trades today.
Private Markets Are Up Up Up: JP Morgan Invests in Zanbiato
The need for private stock trading platform has grown proportionally to the increased amount of time companies stay private instead of going public via IPO.
Also filing this week: Karthik Subramanian and Abdelaziz Fathi.