Now that we are a month into the new administration, where exactly are we?
P2P Lending In a Good Position
The result of the Presidential election was a surprise to many people. Even the markets themselves had no idea how to react with futures down by more than 5% the night after the election, at first. Recovery from the drop was near immediate and the market has gained since then with the S&P 500 currently at 2365. This theme of increased volatility will likely continue and p2p lending is Click Here To Continue
This post also appears on the VIAINVEST blog. You can check out their site and their excellent Euro based p2p lending platform at https://viainvest.com/blog/
While the oldest p2p lending platform is Zopa out of England, most of the biggest and fastest growing platforms are based in the US. The huge size of the US and its base of borrowers and lenders is part of the reason why, yet there are a couple things the US is doing for its p2p lending markets that Europe could look to implement Click Here To Continue
There's been a ton of news and activity in our industry recently. We have a lot going on. A new administration starting at the end of the week, a new bank charter (potentially) for fintech companies from the Office of the Comptroller of the Currency (OCC) and other stuff too. Let's see what is going on in the industry.
Before we dig into the news, did you know that you can stay in touch with all the news in our industry with the Lendit Conference in NYC? It's on March 6-7. Since you read this Click Here To Continue
This post can also be found on VIAINVEST’s blog page. Check them out on Twitter @VIAINVEST_ or their Facebook Page.
The Baltic states of Estonia, Latvia, and Lithuania are becoming a hotbed for European fintech companies. Latvia’s latest entrant in the p2p lending market is VIAINVEST . VIAINVEST has some great features and an easy website to navigate. Let’s check out a couple of the benefits they offer on their platform for you as an investor.
Hold Some, Sell Some
As someone Click Here To Continue
2016 was a tumultuous year in p2plending. Maybe it's related to growing pains or maybe to something else entirely. The industry definitely took its bumps. Let's look at some of the major trends in marketplace lending over the course of this year.
Lending Club's Issues
Founder and former CEO Renaud LaPlanche was the biggest story in p2p lending this year with the fraudulent loan sale that led to his departure from the company. Other top execs have left, most notably the CFO and the Chief Marketing Click Here To Continue
Bitcoin is Confusing
Bitcoin is hard for many people to understand. The difficulty makes sense when you think about it as it is both a currency and a payment/transaction system among other things. We don’t talk about Cash and the Mastercard/Visa network like they are the same because they aren’t even though you use both cash and credit cards to pay for things. Bitcoin has terms thrown around in it like digital money, cryptocurrency, proof of stake and consensus that can be tough for non-technologists Click Here To Continue
Leading Bitcoin based p2p lending platform BitLendingClub is going to close its doors.
In an announcement sent out to all lenders and borrowers this morning, the company said that 'regulatory pressures' made operating the company no longer feasible. The specific regulations are not stated although its likely that its related to FinCEN and the MSB (Money Service Business) requirement placed on some Bitcoin companies. Regulations regarding BTC are confusing to say the least with FinCEN/Dept of Treasury, Click Here To Continue
The industry bellweather Lending Club announced its earnings this morning before the opening bell of the stock market for the week. The consensus of 6 analysts that cover the stock, according to Zacks Investment Research is an EPS (earnings per share) of -$0.10.
Let's see how they actually did.
By now you know about what happened with LC this summer, the management shakeup, the loss of confidence in the platform (which we hoped was temporary) and the appointment of Scott Sanborn as new CEO. Click Here To Continue
I know I've been a slacker about some of these updates and its my bad.
I'm trying to jump back on the horse here and will update my Bitcoin AutoInvest results.
First, let's see the actual chart from my BitLendingClub calendar.
Did you notice that Loanbase and BitLendingClub split off from each other?
Loanbase is now a business lending platform to businesses in Latin America while its Bitcoin lending operations are back at BitLendingClub.
Now that we know where to go to find our info, Click Here To Continue