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Fintech Focus For June 11, 2021

·1 min read
Fintech Header
Fintech Header

Quote To Start The Day: "As my knowledge of things grew I felt more and more the delight of the world I was in.”
Source: Helen Keller

One Big Thing In Fintech: The Basel Committee on Banking Supervision on Thursday recommended the highest possible risk weighting — 1,250% — be applied to a bank's exposure to Bitcoin and some other cryptocurrencies. Under that suggestion, a bank would need to hold a dollar in capital for each dollar worth of Bitcoin, based on an 8% minimum capital requirement.

Source: Banking Dive

Other Key Fintech Developments:

Watch Out For This: In the end, in running a successful company, egos must be removed.

That’s according to JR Rahn, who said MindMed requires leaders better equipped to pursue late-stage clinical trials and solve regulatory hurdles.

“It’s about removing oneself from necessarily what your ego tells you to do,” he said in a conversation on his commitment to making minds and bodies healthier. “The biggest thing I can do for MindMed, right now, is to realize that it needs a different type of leader, for the long haul. It is really for the best of the mission that is so deeply important to me.”

Source: Benzinga

Interesting Reads:

Market Moving Headline: Prices paid by U.S. consumers rose in May by more than forecast, extending a months-long buildup in inflation that risks becoming more established as the economy strengthens.

Source: Bloomberg

See more from Benzinga

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