F|T: The FinTech Times – Robinhood pays the Sheriff

Welcome to the FinTech Times, a weekly newsletter covering the biggest FinTech news from around the globe. If you want to read F|T before anyone else, make sure to subscribe using the form at the bottom of this page.


Eli Fathi retiring as MindBridge CEO (BETAKIT)

Fathi publicly announced his intentions this week, after informing MindBridge’s board of directors earlier this year.


Robinhood reveals rising revenue and a $1.4 billion loss (NEW YORK TIMES)

The stock-trading app unveiled its initial public offering prospectus, right as the brokerage also agreed to pay $70 million to settle a regulatory investigation.


New Portage FinTech SPAC files for $200 million Nasdaq public offering (BETAKIT)

Sagard Holdings, the alternative investment arm of Power Corporation and manager of Portage Ventures, is launching a blank cheque company, or SPAC, focused on FinTech acquisitions.


The world’s biggest crypto exchange is running into trouble everywhere (QUARTZ)

Nothing symbolizes cryptocurrency’s troubles with regulators as well as the travails of Binance, the world’s largest crypto exchange by volume.


Canadian tech must embrace Indigenous reconciliation (BETAKIT)

While Canada is often viewed globally as a thriving hub within the digital economy, Indigenous communities and practitioners are largely missing from the conversations and spaces about the future ‘smart’ and decentralized technologies.


Plaid built a $13 billion business behind the scenes. Now it’s opening up. (PROTOCOL)

The software startup focused on app developers early on. Now it’s speaking to consumers — and regulators, even as open banking in the US seems impossible.


Clearco, Caravan launch $50 million USD fund for celebrity-backed companies (BETAKIT)

The $50 million for the new Caravan fund comes from Clearco’s existing pool of debt facilities.


Smaller is bigger for payments giants (WALL STREET JOURNAL)

PayPal’s push for in-store sales is just one part of how payments players are tackling the post-pandemic digital-commerce shift.


MaRS’ Yung Wu on the real price of ransomware (BETAKIT)

Every 11 seconds, there’s a ransomware cyberattack against a business. These types of attacks happen even more frequently to individuals.


Mercado Bitcoin, Brazil’s first crypto exchange, raises $200M from SoftBank (TECHCRUNCH)

The round values 2TM Group, Mercado Bitcoin’s non-operating parent company, at $2.1 billion, ranking it among the top 10 unicorns in Latin America.


Wealthsimple launches 14 new coins on its crypto trading platform (BETAKIT)

In May, Wealthsimple raised a $750 million round of funding at a post-money valuation of $5 billion CAD. Since then, Wealthsimple has been expanding other areas of its business.


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Josh Scott

Josh Scott

Josh Scott is a BetaKit staff writer who loves to tell Canadian business and tech stories. His coverage is more complete than his moustache.