Rent increases may seriously affect proptech’s future

Rent increases may seriously affect proptech’s future

The Council of Economic Advisers reported that skyrocketing rents were responsible for 40% of the Consumer Price Index increase in May. At least 35% of people in the U.S. live in rented housing.

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Former OCC head talked big bank out of gun control measure

Former OCC head talked big bank out of gun control measure

Brian Brooks, former acting Comptroller of the Currency during the Trump administration, said the head of “one of the two largest banks in the United States” was considering a ban on gun purchases using the bank’s debit and credit cards. Brooks convinced the bank CEO to not go ahead with the move.

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Crypto’s market cap fell below $1T. Now what?

Crypto’s market cap fell below $1T. Now what?

Bitcoin’s value dropped as much as 17% after crypto lending platform Celsius froze withdrawals on its platform. Bitcoin fell to its lowest value since December 2020, contributing to crypto’s aggregate value sliding from a high of $3T to below $1T.

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French bank eyes decarbonization as competitive edge

French bank eyes decarbonization as competitive edge

La Banque Postale, the 16-year-old banking branch of France’s postal service, is the world’s first bank to set a hard deadline on financing for oil and gas. It will discontinue investments in those companies by 2030.

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How finance plays a role in gun control

How finance plays a role in gun control

Daniel Defense, which allegedly manufactured the weapon used to kill 21 people last week at Robb Elementary School in Uvalde, Texas, offers BNPL financing through the fintech Credova. Larger BNPL providers, like Affirm, Afterpay, and Klarna, do not work with firearms sellers in the U.S.

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Reconsidering the dollar bill

Reconsidering the dollar bill

In an op-ed for MIT Technology Review, Lana Swartz, who studies the history and future of money at the University of Virginia, reflects on monetary tools that serve public interests. Cash, she argues, is the best financial technology for community and individual autonomy.

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Oyo to delay IPO plans

Oyo to delay IPO plans

The Indian hotel proptech is pushing back plans for a public launch due to volatile market conditions. Oyo had previously fired thousands of employees at the start of the Covid-19 pandemic.

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SEC nearly doubles Crypto Assets and Cyber Unit size

SEC nearly doubles Crypto Assets and Cyber Unit size

This morning the Securities and Exchange Commission said it would create an additional 20 positions in the unit overseeing crypto markets and internet-based threats. It also announced that the unit would be renamed Crypto Assets and Cyber Unit, previously known as the Cyber Unit, to reflect its additional crypto-based purview.

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How might Roe v. Wade’s overturning affect finance?

How might Roe v. Wade’s overturning affect finance?

A draft majority opinion leaked by Politico suggests the Supreme Court will overturn reproductive rights as they are enshrined in Roe v. Wade. “Roe was egregiously wrong from the start,” Supreme Court Justice Alito writes.

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Study suggests El Salvador’s bitcoin project has failed

Study suggests El Salvador’s bitcoin project has failed

A study by the U.S. National Bureau of Economic Research has deemed El Salvador’s decision to accept bitcoin as legal tender to have been an economic failure. The cryptocurrency has failed to spread as a popular medium of exchange, and cost the country up to 1% of its GDP.

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Bank shareholders vote down climate-change proposals

Proposals at annual shareholder meetings for Citigroup, Bank of America, and Wells Fargo would have pushed management to curb lending for projects in oil and gas. The proposals received between 11% and 12.8% votes in favor.

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Super Bowl ads and the future of crypto trading

After dumping millions into advertisements for the Big Game earlier this year, market insights experts said they failed to see an influx of retail investors. Sources cited market uncertainty, including the Russian invasion of Ukraine, as reasons for the tepid response.

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Boosting its SWIFT alternative, Russia keeps members under wraps

In a speech to the country’s legislators, Bank of Russia Governor Elvira Nabiullina announced that members of Russia’s alternative to SWIFT, the international payments network, would be kept anonymous. She said 52 institutions from 12 countries currently participate in the network.

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JPMorgan finances $285B for ESG goals

In its ESG report for 2021, JPMorgan announced that it had financed and facilitated $285B toward various ESG goals, including development finance, green projects, and community development. It’s part of its larger goal to commit $2.5T toward ESG initiatives over the next decade.

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Majority of central banks mull CBDCs

According to PwC, 80% of central banks worldwide are considering rolling out a central bank digital currency (CBDC). PwC estimates the larger stablecoin ecosystem to be worth $190B.

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