Show notes
This week's list of top stories in fintech:
Jack Dorsey’s Square changes corporate name to Block
- Crypto-focused business called TBD
- Square Crypto, a separate part of the company “dedicated to advancing Bitcoin,” will change its name to Spiral
- Shares are down roughly 2% so far this year, as investors rotate away from higher-growth tech names.
- Customers who paid the fees will be automatically rolled over into a free overdraft protection service early next year, the bank said. Those who opt out of the service will simply have overdrawn transactions declined at no fee.
- Overdraft service will be similar to Chime’s
Why New York Community Bank is minting stablecoins
- “We see a ton of disruption out there,” Kaplan said, from decentralized finance and fintech companies. “If NYCB and other banks don't lean into that and become part of it, they're going to be excluded from it and potentially become a dinosaur.”
- Figure is working with NYCB and a consortium of other banks.
- Provides instant settlement for between banks
Facebook’s top crypto executive David Marcus is leaving the company
- What is the over/under of him starting his own company? What’s his non-compete?
- What does this mean for Facebook’s crypto efforts for the metaverse?
- Libra->Diem->Novi - lots of false starts
- Probably frustrated by the slow moving Meta project
‘Winner-Take-Most’: Anthony Noto’s Ambitions for SoFi Take Shape
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Until next time.
