This week we had a bit of everything. A big bank acquisition of a fintech, a fintech buying a bank, the almost obligatory weekly announcement of another fintech going public, a mega-round for a Brazilian fintech and a DeFi implosion. It was an interesting week. Here are what I consider to be the top 10 most important fintech news stories of the past week.
Inside the New Cross River Bank Venture Arm from LendIt Fintech News – Cross River Bank has been at the center of fintech innovation for more than a decade and now they will be taking an even more active role as they become an equity investor.
Kabbage Adds Digital Checking to Platform from Crowdfund Insider – While Kabbage initially announced this product back in July of last year, the Amex acquisition obviously pushed back the timeline, but the feature set looks to have remained in place.
Iron Finance’s Titan Token Falls to Near Zero in DeFi Panic Selling from CoinDesk – Without doubt this is the biggest implosion in the short history of DeFi as Iron Finance’s TITAN token went from $65 on Wednesday to less than one-thousandth of a cent on Thursday. Not a good look for an industry that is trying to gain in credibility.
Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.