1. UK – P2P
“ASSETZ Capital is offering all investors an extra 0.5 per cent in interest on newly-lent funds until 2019, as part of a new Summer Rate Boost promotion.
The interest offer is available to both new and existing investors and will be automatically added to any new funds which are lent on the platform until 31 August 2018. The 0.5 per cent boost will also apply to the platform’s Innovative Finance ISA (IFISA) accounts, and it will remain in place until 4 January 2019.”
2. US – P2P
Seeking Alpha runs analysis of Lending Club.
“LendingClub (LC) came out with earnings yesterday and got absolutely hammered. Dropping over 10% of its market value over the course of the past few days, investors are worried. The company is the premier peer-to peer-lending platform that services personal loans and investors in those loans who can range from individuals to small banks. Despite exceeding expectations, the company issued soft guidance and investors sold off pretty intensely. Many who were invested at its higher valuation were probably looking too much at growth trends without looking at the larger picture. I believe this correction is legitimate and we might see the stock drop more.
The company has performed incredibly well so far. As the industry of personal loan growth is coming in at an increasingly accelerated pace as can be seen below, the company has seen large demand growth from the borrower side, as well as growth in demand from the lender side. As the company makes a profit as a percentage of the loans originated and sold, higher volume means higher revenue and profits.”
3. US – AltFi
Technology-focused private-equity firm Vista Equity Partners Management LLC could raise as much as $14 billion for its seventh flagship fund, pension fund documents show.
4. International – AltFi
“Chinese alternative asset managers have become the latest casualty of the country’s crackdown on debt and financial risk, with a record number of private equity and hedge funds dissolving in recent months as new regulations limit their fundraising.
In the first six months of this year, the Asset Management Association of China (Amac) — a government-controlled industry body — “lost contact” with 163 private fund institutions, more than 70 percent of the total for which contact was lost for 2017. The “lost contact” designation refers to private funds that have failed to renew their registration status with the association every three months as required. While some have simply wound down, others have failed to meet promised investor payouts or even disappeared with investors’ money.
Of these 163 private funds, more than 70 percent are private equity or venture capital funds, according to an analysis of Amac data by National Business Daily, a Shanghai-based newspaper. The others are mostly hedge funds that invest in publicly traded securities.”
5. International – FinTech
No Camels reports:
“Israeli blockchain fund and investment platform iCapital has teamed up with Hong Kong-based firm Enecuum, the world’s first and only blockchain platform the capability of mobile mining. Both companies signed an agreement for long-term cooperation, a statement from iCapital said.
Shelly Hod Moyal, the founding partner of iCapital and iAngels, the Israeli investment crowdfunding platform for high-tech equity deals, will become Enecuum’s project adviser.”
6. International – FinTech
Crowdfundinsider on a crypto scam:
“In a sordid saga shared by the Bangkok Post, a crypto investor who should have been sophisticated to the lawless world of crypto investing, was fleeced of 5500 Bitcoins. At most recent exchange rates, that equates to USD $35 million – a bad day in anyone’s book.
The plot took place over multiple months, according to the article. The Thai Crime Suppression Division (CSD) has been working on the case since January when it became aware of the alleged fraud but it just hit the headlines in recent days. The fraud was said to be one of the most challenging cases the CSD has dealt with due to the sophistication of the ruse.
Authorities believe there were 9 individuals involved in the scam, including a 27 year old soap opera actor named Jiratpisit ‘Boom’ Jaravijit who was recently photographed in handcuffs playing the role of the perp walk. Boom was accompanied in the swindle with the help of some family members – one of which, Prinya Jaravijit, has apparently fled the country and is on the run, perhaps in the US. Prinya is believed to be the mastermind behind the failed fraud.
The CSD was tipped off to the fraud when a Thai businessman, Chonnikan Kaeosali, who is described as a partner of Saarimaa, approached law enforcement authorities in Thailand. The thugs allegedly lured the unsuspecting into offers of investment of crypto that included the high profile gaming currency Dragon Coin. The gang went so far as taking their victims to Macau Casinos to convince them of the legitimacy of the offer.
Of course, once the Bitcoin was transferred it quickly disappeared, apparently the crooks moved the money into Thai Baht and into multiple bank accounts attempting to cover their tracks by purchasing property.
The Thai CSD is said to be gathering additional evidence as it prepares to issue further arrest warrants. The Jaravijit family face charges of money laundering and fraud charges. In total, 51 different bank accounts have been frozen and 14 different plots of land have been identified as part of the scam.”
7. International – FinTech
Asian cryptocurrency exchange KuCoin recently announced the launch of its new institutional investor program, according to Crowdfundinsidr.
“According to KuCoin, the program was created in order to encourage institutional investors on its platform participate more actively in trading activities. The exchange describes institutional investors as those that participate in quantitative trading, high-frequency trading, etc. All institutions that qualify will notably receive significant trading fee discounts.
Founded just last year, KuCoin, which calls itself the “People’s Exchange,” reported that is the platform is easy to use for novice investors, and “in-depth enough” for crypto enthusiasts. The exchange offers a range of alt coins and is currently adding new ones regularly. KuCoin explained:
“The exchange is quick to identify up and coming coins with the best blockchain technology applications. Their ability to choose tokens that users are interested in has shot them to Unicorn Status faster than any other company in history at just 3 1/2 months as a start up reaching the 1 billion in value.”
KuCoin reported that in order to qualify for the institutional investor program, applicants must complete the KYC verification process and complete the program’s form. The cryptocurrency will then send feedback and results to applicants through email within five working days. KuCoin stated that all qualified institutional investors will enjoy trading fee discounts of 20% to 80%, for at least 30 days. The discounts can fluctuate up or down, based on the investor’s actual trading volume over the past 30 days.
The launch of the new institutional investor program comes less than two months after KuCoin formed a partnership with fintech software platform HyperQuant. As previously reported, the partnership agreement covers numerous spheres of collaboration. The platform claims that its team experts were chosen to support KuCoin with the development of the new exchange’s infrastructure and API protocol.”