Weekly Roundup

Nomad Crypto Heist: Nearly $200 million was stolen from U.S. crypto firm Nomad. The heist targeted Nomad’s bridge, a tool that allows users to transfer tokens between blockchains. Over $1 billion has been stolen from bridges this year.

Blackrock Crypto Partnership: Blackrock announced a partnership with Coinbase. BlackRock’s institutional clients who also own digital assets on Coinbase will now be able to use Aladdin, Blackrock’s suite of software tools, to manage their portfolios and conduct risk analysis on investment decisions.

WEF Retail Investor Survey: The World Economic Forum’s survey, in collaboration with BNY Mellon and Accenture, showed that 29% of investors said they did not understand the cryptocurrency market, while nearly 40% of investors said that they didn’t understand stocks or bonds. The survey also revealed that 70% of retail investors were under 45 years old.

Robinhood SEC Probe: The SEC is investigating Robinhood’s compliance with a short-selling rule. The SEC has requested information about the brokerage firm’s adherence to Regulation SHO and matters related to securities lending and fractional shares.

Tiffany’s NFT Collaboration: Tiffany & Co. created pendants modeled after CryptoPunks NFTs, with a new NFT included with purchase. The pendants can only be purchased by CryptoPunk owners and are priced in ETH.

Gen-Z Retail Investor Analysis: Digital wealth management platforms Moomoo and Futubull shared analysis showing generation-Z as more likely to be risk-averse with their investments than older generations.

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

  • Matt Levine, opinion columnist, Bloomberg, joined Bloomberg’s Crypto podcast. He shared recent happenings in space and highlighted his conversation with FTX CEO Sam Bankman-Fried at the recent Bloomberg crypto summit in New York.

  • Tee Fong Seng, Asia wealth CEO, Pictet Group, said on a panel at the Bloomberg Asia Wealth Summit that crypto currently has no place in private banking. He highlighted the volatility but noted that his team will continue to monitor the market.

  • Sachin Mehra, CFO, Mastercard, sees opportunity in e-commerce and crypto transactions. He discussed his view on the importance of “failing fast” to ensure the company doesn’t miss opportunities.