Musk’s ?? soars to #1 Spot in App Store after Carlson-Putin interview announcement ??; Paytm’s turmoil ??; NU is simplifying investing ??
Linas Beliūnas
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Last week (5-9 February) was another super exciting and hot week in the world of Blockchain and Cryptocurrency. We will look at Elon Musk’s ?? soaring to the #1 spot in the App Store after the Carlson-Putin interview announcement (& what it has to do with FinTech + more bonus dives); Paytm’s turmoil after RBI crackdown (a recap of what’s happening + a closer look at Paytm & payments in India); Nubank that’s simplifying passive investing with a new product launch (what it’s all about + a holistic view at NU); and other interesting news and developments.
Without further ado, let us dive into what happened in the Blockchain & Crypto sector last week. Let’s connect the dots.
Elon Musk’s ?? soars to Top Spot in App Store after Carlson-Putin interview announcement ??
The news ??? The announcement that controversial TV host Tucker Carlson will be airing the first major Western media interview with Russian President Vladimir Putin since the invasion of Ukraine has sent ??, the platform formerly known as Twitter, soaring to the #1 app on the US Apple App Store.
Let’s take a quick look at this and see what it has to do with FinTech.
More on this ?? According to data from app analytics firm Appfigures, downloads of the ?? app began rapidly increasing around 7 PM EST on Tuesday shortly after Carlson revealed details of the forthcoming interview from Moscow.
By midnight, ?? had overtaken the reigning #1 app Instagram Threads. Appfigures estimates ?? gained over 117,000 downloads on Tuesday, a significant bump from the previous day.
Of course, we must understand that the App Store ranking is dynamic and often influenced by short-term trends. Reaching #1 doesn't guarantee long-term dominance.
So what happened? ?? The spike in interest stems from the intrigue around Carlson's exclusive Putin interview. Carlson has previously been criticized for appearing sympathetic to Russia's perspective on the conflict.
By speaking directly to Carlson's audience, Putin likely hopes to present his side of the story to a more receptive crowd.
What’s interesting is that the timing coincides with the public launch of ?? competitor Bluesky, which garnered 800,000 users on its first day. However, Bluesky has yet to crack the top 100 apps.
?? THE TAKEAWAY
What this means? ?? First and foremost, this surge to #1 signals growing user interest in ?? as it aims to evolve into an "Everything App" under Elon Musk's leadership. Exclusive content like the Putin interview is exactly what draws attention and traffic to the platform. As ?? attempts to compete with social media giants like Meta , continuing to attract top creators & personalities as well as something you can’t find elsewhere will be key to fueling its growth. Looking at the big picture, this again serves as a good reminder that if you are in FinTech, you’re in a Media business as well. Companies like Robinhood have understood early that original content can be a great converter of new users and a tool to boost engagement.
ICYMI: If you’re in FinTech, you’re in Media: Robinhood acquires Chartr ?? [+ a closer look into Robinhood]
The only way is up? Fidelity marks up the value of Elon Musk's ?? by 11% ?? [a holistic overview of the latest developments & why they matter + lots of bonus deep dives]
Paytm’s turmoil after RBI crackdown ??
Check-in ? As reported last week, India's leading financial services firm Paytm has been thrown into turmoil after the Reserve Bank of India (RBI) barred its payments bank from accepting fresh deposits or allowing credit transactions.
The clampdown sent Paytm 's shares plunging over 40% in three days, wiping out $2.5 billion in market value. Ouch. ??
Let’s take a look and see what’s happening.
More on this ?? The full implications of the Reserve Bank of India (RBI) 's actions are still unclear, but they appear extensive. Paytm may have to surrender its license to operate its payments bank, which holds deposits for over 330 million wallet customers.
It's uncertain whether Paytm can transition these customers to a new banking partner by the RBI's February 29th deadline or if the RBI will allow Paytm to resume payments bank operations at all.
More importantly, there are also questions about some of Paytm's other licenses, like its payment aggregator license. If these get impacted too, there might be no tomorrow…
领英推荐
Meanwhile, the clampdown seems to be shaking confidence in Paytm, with analysts noting customers already believe the company is defunct. This could drive significant market share losses in segments Paytm previously dominated. And there were quite a few of them…
?? THE TAKEAWAY
Looking ahead ?? We must remember that the RBI cited "persistent" violations of a previous order barring Paytm from adding new payments bank customers. While details remain unclear, the broader impact spells turbulence for India's booming FinTech industry. Investor confidence is being rattled, with regulatory changes becoming increasingly hostile. Zooming out, as Paytm scrambles to comply and restructure its business, the coming days will determine whether India's payments pioneer can survive the regulatory onslaught or will become a cautionary tale for the country's fintech ambitions. Interesting and important days ahead, so watch this out!
ICYMI: Goodbye, Paytm? Paytm Payments Bank's demise and the future of digital payments in India ?????? [the demise & the future of digital payments in India + some bonus reads]
Nubank simplifies passive investing with its new investment product ??
The launch ?? Brazilian FinTech giant Nubank has recently launched a new investment product called Nu Selic Simples, aimed at conservative investors seeking a low-risk, easily accessible way to earn returns.
Let’s take a quick look at this and see why it matters.
More on this ?? With an initial investment of just 100 reais, Nu Selic Simples offers daily liquidity and a return tied to Brazil's benchmark Selic interest rate.
A key differentiator of Nu Selic Simples is the professional management by Nubank's investment arm Nu Asset. Rather than having to select your own bonds on the Tesouro Direto platform, Nu Asset handles ongoing bond selection and renewal behind the scenes, charging a competitive 0.19% annual management fee.
This simplicity and expertise allow everyday Brazilians to benefit from professional money management.
?? THE TAKEAWAY
Why it matters? ?? Nu Selic Simples represents both an additional revenue stream for NU via management fees and a way to continue expanding its financial services ecosystem. As Latin America's largest fintech with over 65 million customers, Nubank is leveraging its scale and mobile-first interface to democratize finance. Offerings like no-fee credit cards, personal loans, savings accounts, and now Nu Selic show Nubank's ambition to be customers' primary financial relationship. If successful, Nu Selic Simples could pave the way for more managed investment products from Nubank and drive mobile-based disruption of Brazil's 123 billion reais mutual fund industry. With trusted brand recognition and reach, Nubank sits poised to bring sophisticated investments to the masses. And that further builds on their ambition to become LatAm’s largest financial services company.
ICYMI: Nubank aims to become Latin America's largest financial services company ???? [big picture view of NU’s ambitions & why it should excite you + some bonus deep dives & analysis]
Extra Reads & Quick Bites for Curious Minds ??
Money Moves ??
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About: I am a business developer, sales professional, and FinTech strategist, as well as a Cryptocurrency and Blockchain enthusiast. I'm highly passionate about Financial Technology and Digital Innovation and strongly believe that it will change the world for the better. Apart from my daily job at a global payments startup where I'm leading the company's expansion into Europe, I'm an active member of the FinTech community and a TechFin evangelist.
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