Hey Tea Sippers,👋
Happy Financial Literacy Month! 📈
In honor of week 4, the final, and last week. I would like to recommend a TikToker by the name of (Humphreytalks) or Humphrey Yang. He talks about everything revolving around personal finance including credit, 401k,s, and more. He currently has 2 million followers and is actively growing. If you have some free time, grab some tea and take a look at some of his videos. Cheers!
What’s the Tea Today? 🤔
Ready for this week’s tea? ☕️ We are talking about China’s recent regulations on Jack Ma’s, Ant Group 😬, Bitcoin as an ETF? 😣, and Goldman Sachs going all in Fintech📲.
There’s one major news story: The vaccine doses administered have gone down, but the hospitalizations from covid related events have also decreased. The president still remains optimistic about the future and believes that full US vaccination is feasible to accomplish within the next few months. Read more about this story here.
Anyways, short and big stories ahead, get your tea ready and start sipping. ☕️
Also, before you get reading, don't forget to join our waitlist! Thanks. 😝
The Great Regulation ⛓
Ant Group 🐜
Jack Ma’s Ant Group is being regulated by the Chinese government. Ant Group is the largest digital payment platform in China. China is concerned about them reaching a monopoly, so they have begun to initiate regulations and restrictions to prevent this.
Valuation. Ant Group’s share market was valued at $37 billion dollars.
Users. 730 million users each month and actively growing.
Fine. Alibaba, an affiliate of Ant Group was hit with a 2.8 billion dollar fine.
The name is deceiving… It looks like the Ant Group, is somehow at the top of the food chain for China’s financial platforms, and they are looking for ways to stay there while following regulations of course.
Call to Action 📞: We are seeing big tech companies face heavy fines and regulatory/compliance issues. Jack Ma, who is a very influential man in China is facing restrictions from the Chinese government due to an overuse of power. (Dial it back there Ma.) Ant Group is just the start, the government has been looking at other major tech companies to see which ones are dominating the space entirely. We are seeing players like Facebook and Google receiving major backlash for being a monopoly. This means these major companies may have to slow down their innovation and let new players emerge into these spaces. 🍿
The New ETF? 📈
Bitcoin 💰
Something new will be emerging into the financial market, pretty soon. We are seeing cryptocurrency and ETFs coincide? This is something I thought I would never see in the same sentence. As individuals wait for the SEC’s approval, we will continue to see bitcoin being traded at high levels.
Current Price. $54,000.
Last Year. It was trading under $10,000
Growth. Bitcoin has grown 88% so far this year, and 305% from last year.
Call to Action 📞: June is the month to have your smartphone out and ready, because that may be approval day. The SEC has been monitoring and looking at the possibility of this ETF for quite a while and it is almost time. Get ready for VanEck, the newest trading ETF on the market. Maybe we’ll see market trends similar to the S & P 500…
Old to New 🔄
Goldman Sachs is rebuilding 🔨
We are seeing one of the largest banks in America trying to join the fintech space. Out with the old and in with the new. Everyone’s got to get in or you feel left out. Let’s join fintech!
Invested. They just invested 70 million dollars into Starling Bank. (A prominent fintech bank in the UK)
Doubled. Starling’s customer base doubled within the first two months of the pandemic
IPO. Things are looking up and if they keep going up, they are planning to IPO in late 2022 or 2023.
Call to Action 📞: Goldman just lost some of its top executives to the fintech space… The fintech market is forever evolving and emerging, and Goldman wants in somehow. You can’t leave the big guy out of it. The motto is, “if you can’t beat em, join them”, and that’s exactly what they are doing. Goldman Sachs is trying to merge with some of the international competition or better put, create more allies in the financial space because things will be getting chaotic quite soon.
Extra Tea ☕️:
Pagaya: There is an Israeli startup that plans to come to Wall Street with a valuation of $8 billion dollars.
WeLab: Hong Kong’s digital bank is set to IPO with a valuation of up to 2 billion dollars.
Fintech Frenzy: There is a fintech frenzy as we see companies like Coinbase being valued at 76 billion dollars on IPO day.
Ally + Microsoft: These two companies are working on efforts to advance the quantum computing of financial services.
Sencha “Tea” Fact of the Day 🍃:
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