January 18, 2022
November 18, 2021
Apple’s CEO Tim Cook owns cryptocurrency; Ethereum and Solana hit new record highs; and Twitter forms new crypto team
The landscape of Fintech, crypto, and DeFi is ever-changing. Each week, we will pull together some highlights worth noting.
Here are last week’s insights, news, and trends that caught our attention:
Apple’s Tim Cook Says He Owns Cryptocurrency, Calls It ‘Reasonable’
Apple CEO Tim Cook revealed Tuesday he personally owns cryptocurrency and has been interested for "a while," but he shot down rumors that his company is targeting crypto as an investment after prices for bitcoin and ethereum soared to new record highs.
Ethereum and Solana Hit New Record Highs on Rising Interest in NFTs and DeFi
Ethereum set a new record high last week, pushing past $4600 and clocking in a 530% increase since the beginning of 2021. One of the factors pushing the second-largest cryptocurrency to new heights is the rising popularity of Decentralized Finance (DeFi) and non-fungible tokens (NFT) projects. Goldman Sachs global markets managing director Bernhard Rzymelka sees Ethereum climbing as high as $8,000 in the next two months.
At the same time, Solana's SOL token has climbed by over 15,000% in 2021, creating an exciting opportunity for crypto and DeFi companies like WonderFi Technologies (NEO:WNDR) (OTC:WONDF), DeFi Technologies Inc., (NEO:DEFI) (OTC:DEFTF), Voyager Digital (TSX:VYGR) (OTCQX:VYGVF), Coinbase Global (NASDAQ:COIN), and HIVE Blockchain Technologies Ltd. (NASDAQ:HIVE) (TSXV:HIVE).
Twitter forms new crypto team to incorporate decentralized tech into the platform
The social media firm Twitter is building out a new crypto team to add crypto, blockchain and decentralized technology into the popular social media platform. The Financial Times reported Wednesday that Twitter has hired Tess Rinearson to be its crypto engineering lead.
Fidelity, Visa and Kingsway back South African fintech JUMO in $120M round
JUMO, a South Africa- and London-based company that offers financial services to entrepreneurs and businesses in emerging markets, has raised $120 million in a new round of funding led by Fidelity Management & Research Company. The company is now valued at $400 million, according to The Times.
The round, which marks Fidelity’s first investment in an African company, also saw participation from fintech giant Visa and London-based investment management firm Kingsway Capital. It is also coming a year after raising $55 million in a similar unnamed financing round.