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Fintech Focus For July 6, 2021

When could China rule the world? Croatian Rimac took over Bugatti. OPEC in crisis as infighting looms. SoftBank buys Yahoo trademark. Jeff Bezos handing over CEO role. Premium Elon Musk adds to Tesla. Industries to thrive on millennials. Market Moving Headline: Last week, U.S. stock index futures auctioned sideways to higher into Friday’s employment report. The release showed an addition of 850,000 jobs in June, the strongest employment gain since last summer. The S&P 500 and Nasdaq 100 led the week-long rally, while the Dow Jones Industrial Average followed closely behind. Though the Russell 2000 did end lower, it has been building energy for a break.

Fintech Focus For July 2, 2021

Spotlight turns to M&A for SPACs. Tiger Global to back fintech Yap. Mintable raises $13M in funding. Karat raises for creator finances. Northern Trust digitizes servicing. Calaxy secures $7.5M in funding. Robinhood details a crypto surge. Swarm launches regulated DeFi. BNP signed FIS tech agreement. Codat adds $40M funding round. Covario added METACO custody. SoftBank funds Mercado Bitcoin. Mastercard, FDIC eye inclusion. Charlie adds DirectPay to toolkit. dxFeed, Small Exch. add product. Rapyd is acquiring Valitor fintech. Bison Trails has added networks. Watch Out For This: The basis trade, where crypto investors … profit from discrepancies between spot and future prices, had become a reliable double-digit annual return generator until it was upended in May. The dramatic sell-off saw a number of leveraged positions, mostly held by retail investors, flushed out.

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