Equity

Equity Monday: Crypto ticks higher, fintech gets interesting again and fraud is still bad

Jun 26, 2023
Cryptocurrency is experiencing a mini-boom, providing hope after weeks of negativity. Notable startups are making waves: Vanta is rapidly growing into a unicorn, while IRL faced collapse due to fraud. TreasurySpring's new funding highlights the evolving fintech landscape amid global economic shifts. Meanwhile, major investments are flowing into India as American firms and Japan strategize their semiconductor ventures. Lastly, IBM made headlines with a hefty $4.6 billion acquisition of Apptio, signaling the importance of strategic tech deals.
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INSIGHT

Crypto Mini-Boom

  • Crypto saw a mini-boom with Bitcoin up 15% and ETH up 9%.
  • This positive sentiment follows recent regulatory crackdowns.
ANECDOTE

IRL Fraud

  • IRL, a social app with a $1.17B valuation, was revealed to have 95% fake users.
  • This fraud highlights the risks of inflated valuations during boom times.
INSIGHT

Vanta's Growth

  • Vanta, a security compliance company, doubled its annual recurring revenue to $80M.
  • This strong growth suggests a potentially undervalued current valuation.
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