AGP Executive Report
Last update: 35 minutes agoStablecoin Rules: Circle is asking the SEC to treat qualifying payment stablecoins as cash in proposed crypto fundraising rules and remove a 2% capital haircut, a move that could ease their use in payments and settlement. AI Financing Risks: Ares Management is wary of lending against AI chips and GPUs, citing uncertainty over how quickly they lose value; it sees data centres and related infrastructure as easier to underwrite. Markets and Rates: Strong US third-quarter growth did little to shift expectations for a possible December Fed rate hike, while disappointing Big Tech results revived questions about whether AI spending will pay off. Fintech Growth: PhotonPay raised $40 million to expand its stablecoin-focused financial platform, while Ethiopia’s IT Park and Awash Capital agreed to broaden financing options for technology businesses. Banking: Medallion Bank’s third-quarter net income fell year over year, even as loan originations rose across its consumer and fintech partnership businesses. Cybersecurity: AI-powered attacks reportedly cost small Indian non-bank lenders an estimated ₹300 crore in two months, highlighting growing fraud risks for financial firms.
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