This week's list of top stories in fintech:

Institutional Bitcoin Broker NYDIG Valued at $7B in Whopping $1B Funding Round

• Largest funding round in crypto history
• Led by Westcap, a lot of demand; other investors are mainly TradFi: Affirm, FIS, Fiserv, MassMutual, Morgan Stanley and New York Life
• Raised $200m in March of this year
• May not hold the record for long as FTX is raising a mega round
• Nydig = crypto banking, entirely BTC

Anchorage Digital raises $350 million in funding round led by KKR

• $350m Series D at a $3b valuation
• Huge syndicate of TradFis: Goldman Sachs, Alameda Research, Andreessen Horowitz, Apollo credit funds, funds and accounts managed by BlackRock, Blockchain Capital, Delta Blockchain Fund, Elad Gil, GIC, GoldenTree Asset Management, Innovius Capital, Kraken, Lux Capital, PayPal Ventures, Senator Investment Group, Standard Investments, Thoma Bravo and Wellington Management
• Services are perhaps more ETH centric, including governance
• Institutional crypto custody has  momentum

MoneyLion agrees to acquire Even Financial for $440M, sees accretion

• $360M upfront payment
• • $15M in cash 
  • $345M in preferred shares that are convertible into 34.5M MoneyLion common shares at $10/share
  • $80M earn-out, payable up to 8M in preferred shares valued at $10 per share
  • Current price is $3.75; it’s hard to read whether or not the preferred shares are actually worth anything or if they are like underwater stock options.

Fintech, CDFI offer small-dollar loan with new twist

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Until next time.