Business
Eoin Fitzgerald and Pete Townsend unpack the shiny new $24bn valuation for Chime in the context of the American neobank landscape, Ron Shevlin’s concept of neobank-driven deposit displacement through the lens of Bank of America, Facebook’s relaunch of their crypto project, the potential impact of Amazon hiring a crypto lead, the LendingClub turnaround and a sampling of Lex Sokolin’s poetic fintech prose. MAIN STORIES COVERED: Chime’s Big Raise Chime raises $750 million, earns big jump in valuation as another fintech moves closer to IPO (CNBC, 13-Aug-21) Bank of America and Deposit Displacement Bank Of America is losing its grip on millennials as fintechs reinvent the checking account (Ron Shevlin in Forbes, 16-Aug-21) Facebook’s Wallet Relaunch Will Facebook’s Relaunched Digital Wallet [Novi] Alter the Future of Payments? (The Financial Brand, 24-Aug-21) Amazon’s Crypto Journey Beyond the rumors: Amazon's likely direction in crypto (American Banker, 30-Jul-21) Lending Club Turnaround Buying a bank turned LendingClub around. Now the fintech industry is watching (Protocol, 16-Aug-21) HONORABLE MENTIONS: Creating, Transacting, and Storing Value in the Financial Metaverse of NFTs, DAOs, and DeFi (Lex Sokolin, Fintech Blueprint, 23-Aug-21) Walmart is looking for a crypto product lead (The Block (via Arca) 15-Aug-21) LINKS: Leave a review and subscribe on Podchaser | Apple Podcasts | Spotify | Google | Overcast Check out our MoneyNeverSleeps website Subscribe to our newsletter on Substack Follow us on Twitter Podcast | Twitter Pete | Twitter Eoin Get in touch at info@moneyneversleeps.ie --- Support this podcast: https://anchor.fm/moneyneversleeps/support