Kiffmeister’s Fintech Daily Digest 01/15/2020

  • Bitwise Asset Management has withdrawn its application with the US SEC for its proposed bitcoin exchange-traded fund. The San Francisco firm requested the withdrawal in a filing posted with the SEC on Tuesday, while NYSE Arca – the ETF’s sponsor – has also withdrawn the associated 19b-4 filing for the fund.
  • IEOs are similar to ICOs in that they offer digital tokens that companies use to raise capital. The only difference is that IEOs are offered via online cryptocurrency exchanges on behalf of companies—usually for a fee. Because of this, they are often touted as a type of new-fangled ICO, which is somehow immune to U.S. securities law—but they are not.  Many of these IEOs fail to comply with federal securities laws and lack proper investor protections, even though the trading platforms may “claim to perform due diligence or other quality assessments,” the SEC said.”
  • Plaid serves as the connective glue between financial apps like Robinhood and Credit Karma and customers’ bank accounts. Through the use of application programming interfaces (APIs), the San Francisco-based fintech links the two sides, allowing financial data to flow between them.
Posted from Diigo. The rest of my favorite links are here.