Mar 14

Wonders & Blunders: Hot Crypto Commodities

 
OUR CRITICAL ANALYSIS OF THE WEEK’S NEWS
Collaboration, consolidation and regulation abound in today’s newsletter! The World Economic Forum’s fintech cybersecurity collaboration could help secure the financial industry, and therefore, secure the world.
 
The ongoing debate about the status of cryptocurrency investments as assets or securities may continue, but now one regulator has declared them commodities. What changes will this ruling prompt?
 
And in other news, fintech’s future looks brighter than ever, with $16 billion in funding pouring in from private equity firms in 2017. We’ll all be watching to see if this is a sign of things to come for 2018.
Worldwide Fintech Cybersecurity League
 
The World Economic Forum, a nonprofit committed to improving the state of the world, coordinated a cybersecurity consortium of financial technologies to assist the safe collaboration between fintech companies and financial institutions. Consortium members include Citigroup, Kabbage and Hewlett Packard. Financial industries are exceptionally vulnerable to cyber crime because of the money potentially gained from hacking, which makes cybersecurity a growing concern for large institutions and the smaller fintech companies collaborating with them.
Cryptocurrencies Declared Commodities
 
A federal judge ruled that cryptocurrencies can be regulated as commodities by the
U.S. Commodity Futures Trading Commission (CFTC). The CFTC is not the only regulator overseeing cryptocurrency; the SEC supervises ICOs and related cryptocurrency business activities. The judge deciding this case said the CFTC could sue CabbageTech (doing business as Coin Drop Markets) which sold cryptocurrency investment advice to customers but did not deliver the advice.
PE Propels Fintech and Consolidation
Wonder: Private equity dollars pouring into wealth management, fintech – by Jeff Benjamin in InvestmentNews.
 
A report by investment banking firm Echelon Partners shows private equity investors continue to fund financial technology companies. 2017 saw a record $16.1B investment in fintech from PE firms, up 16% from 2016 and up 475% from 2012. Echelon’s chief executive says many PE firms believe technology and automation can change financial services’ value proposition to attract the technology-savvy younger generations.
» IN THE NEWS
ValueWalk quotes Charles Thorngren, CEO of Noble Alternative Investments, about the launch of its subsidiary, Noble Bitcoin.
Finance Digest quotes Rachel Carpenter, CEO of Intrinio, regarding Intrinio’s selection to participate in the Engage Ventures 2018 go-to-market growth program.
» BOTTOM LINE: Internal Communication Strategies for Promoting Corporate Diversity
Internal communications within an organization is an essential element of corporate communications strategies when it comes to ensuring a positive corporate culture, and thus the success of a business.
» FEATURED CASE STUDY: Noble Gold
Noble Gold Investments (“Noble Gold”) is a precious metals IRA investment firm located in Los Angeles. The firm had the exclusive rights to the first gold depository located in Texas and approached KCD PR to assist with the rollout of this announcement. Despite this significant news, Noble Gold was competing in a challenging environment and struggling in terms of driving national media awareness for its business. Furthermore, the firm’s marketing initiatives were sporadic, uncoordinated and executed without a strategic approach.
 
 
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