Weekly Roundup

Fintech Industry Growth
Fintech industry growth was projected to continue to rise, with Payments Journal reporting “2022 as a potentially record-breaking year” and predicting $26.5 trillion as the global value of the financial services market for 2022.

SEC Nominees
It was reported that President Biden announced key nominees to the SEC, including Jaime Lizárraga, a Democrat House aide, and Mark Uyeda, a Republican aide at the Senate Banking Committee.

ESG Investing
Despite the popularity of ESG investing among the public and survey data showing that 85% of investors considered ESG factors in their investments, one special interest group is apparently lobbying to erode pension fund ESG initiatives.

Crypto Asset Management
Crypto startup Blockchain.com launched an asset management service.

Geopolitical Tensions and Heightened Volatility Impact on IPO Market
Discussion continued on geopolitical tensions, volatility and impact on IPOs; there were reportedly 37 IPO deals that raised $2.4 billion during the first quarter of 2022, a decline of 72% in the number of deals and a 95% decline in proceeds from the same period the prior year.

Source Code Theft
Samsung confirmed source code theft from Galaxy devices.

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

Elon Musk, CEO, Tesla, purchased a 9% stake in Twitter, triggering SEC scrutiny on disclosures on transparency from activists after Musk signaled he would be a passive investor, then joined the board of Twitter.

Declan Harty, Fortune, reported that “Crypto just hit a major turning point in its evolution: legacy Wall Street is finally embracing it.

Michael Moro, CEO, Genesis, opined that banks are “very far away” from trading crypto, showcasing the variety of perspectives on crypto trading and mainstream adoption.