Fintech Focus For April 5, 2021
Quote To Start The Day: If you really look closely, most overnight successes took a long time.
Source: Steve Jobs
One Big Thing In Fintech: JPMorgan issued a note Thursday that bitcoin could fetch a long-term price of $130,000 if its volatility continues to decline.
Source: Coindesk
Other Key Fintech Developments:
Santander Consumer adds an app.
Voyager buys MLB suite with BTC.
JD.com’s fintech unit pulled its IPO.
Crypto firms report upticks in retail.
Fei Labs pools $1.3B for stablecoin.
Goldman Sachs is looking to fintech.
EU fintech hub shifting from banks.
dxFeed plans to sell on-chain data.
DriveWealth, Plaid team over tech.
Clocktower made $25M fintech bet.
Razer using fans for fintech growth.
FCA is looking to limit fintech harm.
SadaPay raises $7.2M seed round.
Marble launches new digital wallet.
Industries blockchain will transform.
HighRadius raised $300M Series C.
Chinese hydropower hub eyes DLT.
Watch Out For This: Decades before the race to build a self-driving car became a multi-billion-dollar contest between tech giants such as Tesla and Google, a South Korean professor built an autonomous vehicle and test-drove it across the country – only for his research to be consigned to the scrapheap.
Han Min-hong, now 79, successfully tested his self-driving car on the roads of Seoul in 1993 – a decade before Tesla was even founded. Two years later, it drove 300 kilometers (185 miles) from the capital to the southern port of Busan, on the most heavily-traveled expressway in South Korea.
Source: Tech Wire
Interesting Reads:
CFTC chair joins Citadel Securities.
Frontier IPO signals travel recovery.
Employers unleashed hiring efforts.
A story behind the Archegos blowup.
Clubhouse is missing out on billions.
Loneliness is the problem of remote.
Market Moving Headline: The S&P 500 closed above $4,000.00 for the first time.
This comes as investors shifted their focus from the risks of rapidly rising inflation to the increasing pace of COVID-19 coronavirus vaccinations and a rebound in economic activity.
At the time, the CBOE Volatility Index (INDEX: VIX), a measure of the stock market’s expectation of volatility based on S&P 500 (INDEX: SPX) options, hit the lowest level since February of 2020.
Key Takeaways:
- March dips prior to bullish April.
- World GDP forecasts revised up.
- Manufacturing sentiment soars.
- Risk appetite elevated, but lower.
- Historical Perspective: Economy.
- $1.1T in student debt still paused.
- Consumers spend 40% stimulus.
- Delinquency rates are near highs.
- Financial conditions tighten up.
- Retail tempered its bullishness.
- $2T infrastructure plan unveiled.
- 1970s-like inflation very unlikely.
- Hedge funds not that levered up.
In the coming sessions, participants will want to pay attention to where the S&P 500 trades in relation to Thursday’s end-of-day spike higher.
In the best case, the S&P 500 remains above the $4,004.25 spike base.
Source: Physik Invest
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