Weekly Roundup

Rise of Retail – It was reported that retail investors are continuing to “buy into the dip” on tech stocks, according to TD Ameritrade.

Stock Market Resilience – Chair Gary Gensler stressed the SEC’s commitment to stock market “resiliency” amid the recent selloff. Despite much volatility, the markets have continued to function as intended with investors able to get in or out of positions, with automated traders providing dependable liquidity.

Volatility Testing Bitcoin Investors – Bitcoin briefly dropped below $30,000 this week.

Crypto Purge – It was reported that Bitcoin investors are “panicking” as UST, a controversial stablecoin, experienced a “bank run,” falling to 30 cents mid-week.

Google Cloud – Google’s cloud group has formed a “Web3 team” to capitalize on trends in crypto, the metaverse, and more.

Hot New Real Estate…Crypto? – The “current crypto-real estate wave that’s not-so-quietly been sweeping Miami for months” was reported in Forbes, as part of a broader trend piece on crypto and real estate investing.

Source Code Breach – Tesla sued a former engineer for stealing confidential information related to its in-house supercomputer, Project Dojo, following other prior claims regarding source code misappropriation by Tesla against former employees.

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

Brian Armstrong, CEO, CoinBase, said that the company has “no risk of bankruptcy,” following a filing with the SEC that included a warning that bankruptcy could wipe out user funds.

Katie Haun’s VC led a $50 million round for NFT protocol Zora.

Alan McIntyre wrote an op-ed on how on “How Higher Interest Rates May Upend The Fintech Business Model.”