⚡ Fnality has secured $95M in funding led by Goldman Sachs & BNP Paribas

Fnality, the blockchain fintech company, raised $95M in Series B funding led by Goldman Sachs and BNP Paribas. DTCC, Euroclear, Nomura, WisdomTree, and a bevy of bank-backers also participated. Fnality creates tokenized versions of fiat currency backed by cash held at central banks. in 2019, the firm raised $63M via several rounds backed by BNY Mellon, Nasdaq Ventures, Commerzbank, and others. #fintech #GoldManSachs #Nasdaq #bank

Bitcoin is maintaining stability around the $63,000 mark amidst slow trading conditions, largely attributed to the impending Federal Reserve meeting. Goldman Sachs predicts a rise in stocks, which bodes well for cryptocurrencies, despite the absence of anticipated interest rate cuts. However, Bitcoin spot ETF outflows and substantial cryptocurrency investment product outflows, totaling $435 million, reflect investor caution. Additionally, analysis of short-term holder realized price suggests a critical level at $59,800, with historical data indicating potential price rebounds or corrections based on proximity to this level. Moreover, heightened BTC miner activity, marked by significant Bitcoin transfers to spot exchanges, raises concerns about market imbalance and the potential for profit-taking among miners.

While Bitcoin's stability amid slow trading conditions and potential market imbalance is noteworthy, the analysis underscores the significance of various factors influencing its price dynamics. From impending Federal Reserve decisions to miner behavior and whale activity, the cryptocurrency market remains subject to intricate interplays that shape investor sentiment and price movements. Observations of stock market trends and institutional reports, alongside on-chain data analysis, provide valuable insights into the evolving landscape of cryptocurrency trading and investment.

#Bitcoin❗️ #FEDDATA #GoldManSachs #ETF✅

Goldman Sachs and Bank of America made positive evaluations for Turkish banks. 🇹🇷🏦

In the wake of the Turkish Central Bank's interest rate hike decision, Goldman Sachs and Bank of America have re-evaluated Turkish banks, updating their target prices. Here's a summary of their assessments:

Goldman Sachs Insights:

The Central Bank's 500 basis point increase in the policy rate signals a potential end to the interest rate hike cycle.

Goldman Sachs economists predict an additional 250 basis point increase in the policy rate during the December meeting, completing the rate hike cycle at 42.50%.

Despite a challenging macro environment, cautious optimism persists, considering improved macro conditions could enhance banks' operational outlook.

The report indicates a positive adjustment in earnings forecasts for Turkish banks, leading to an average increase of around 5% in stock prices.

Bank of America's Evaluation:

Describing the ongoing dynamics in the Turkish banking system as a "Great normalization," the report emphasizes the simplification of regulations affecting growth dynamics, asset allocations, and key interest rates over the past two years.

Manageable quality of assets risk is noted in the Turkish banking system. Bank of America expects Turkish private banks to offer a compelling value, anticipating an above 30% return on equity for these banks.

While Goldman Sachs maintains a cautious stance on Turkish banks, anticipating potential improvements, Bank of America sees a "Great normalization" in the Turkish banking system, emphasizing its positive dynamics. Investors may find opportunities amid these assessments, but careful monitoring of market trends remains crucial.

#GoldManSachs #Turkey #BankOfAmerica #BofA #CBRT

Apple Ends Credit Card Partnership with Goldman Sachs. 🍏💳

Apple is reportedly terminating its credit card partnership with Goldman Sachs, as per the Wall Street Journal. The technology giant recently sent an offer to Goldman Sachs to exit the contract within the next 12 to 15 months.

The collaboration between Apple and Goldman Sachs began in 2019, resulting in the launch of a virtual credit card, Apple Card.

The exit plan includes discontinuing all consumer partnerships, encompassing the recently introduced savings account.

Responding to inquiries, Apple stated its commitment to providing customers with an exceptional financial experience, emphasizing the success of the Apple Card and a dedication to ongoing innovation.

Goldman Sachs has not commented on the matter, but the partnership has faced challenges in recent years, including increased costs under CEO David Solomon's leadership and regulatory scrutiny for handling repayments, billing errors, and alleged gender bias in determining credit limits.

Despite Apple Card's savings account investments reaching $10 billion in August, Goldman Sachs executives viewed them as problematic.

As the situation unfolds, the tech and finance communities await further developments.

#Apple #GoldManSachs #Card

⚡️Top Recent Crypto Fundraising Events

We are excited to present a list of some recent crypto fundraising events, backed by well-known investors such as Goldman Sachs, Blizzard Fund, Fenbushi Capital, CMS Holdings, Samsung Next, Starkware, LongHash Ventures, OKX Ventures, Gate Labs, Foresight Ventures, and others. Let's take a look!

#fundraising #Funding #GoldManSachs