Weekly Roundup

Ukraine Invasion and Russian Sanctions
Discussion continued over how Russia’s war on Ukraine is squeezing the global economy and the impact of Russian sanctions. In addition, questions continued to arise over various perspectives on crypto and the conflict, including the role of crypto in evading sanctions and the role of crypto being used to potentially help fund freedom from political oppression in Russia.

Retail Investors Buying Into Dip, Biggest Weekly Comeback Since Sept. 2008
Despite volatility, it was reported that retail investors are buying the dip of the markets, seeing the recent volatility as a buying opportunity and citing a potential fear of missing out. The S&P 500 gained 0.8% last week after falling as much as 5.4% during the week, the biggest weekly comeback since September 2008.

The Senate passed major cybersecurity legislation to force the reporting of cyberattacks and ransomware.

Source Code Theft
NVIDIA confirmed that company source code was stolen by cyber-hackers last year. Prakash Linga, co- founder and CEO of code security company BluBracket Inc. told SiliconANGLE, “source code represents some of the most coveted crown jewels that a company like NVIDIA possesses.” He also noted, “as attackers have shifted their focus to exploiting weaknesses in code, it is imperative to detect and prevent code risks in Git repositories that contain the source code.”

SEC Disclosures and Sanctions
Discussions continued over whether the SEC should require public companies to disclose business with Russia.

Private Funds
Discussion continued over the SEC’s increased scrutiny of private funds.

In the Mix: This Week’s Top FinTech Thought Leader

  • Eugene Fama, the father of the efficient-market theory, spoke about the recent invasion of Ukraine by Russia and noted thatthe stock market can’t easily process “irrational” behavior.
  • Gabby Kutz, Global DCA, spoke about crypto and the war in Ukraine and the launch of the Crisis in Ukraine Resource
  • Leo Mindyuk, Co-founder and CEO of ML Tech, announced his fintech firm is joining the PythNetwork, where his firm will provide proprietary pricing data on crypto assets.