Tesla shares surge after blowout results, strong delivery forecast

Tesla | January 30, 2020

Shares of Tesla (NASDAQ:TSLA) Inc rose 11% and were set to open at a record high on Thursday as Wall Street analysts cheered the company's better-than-expected quarterly results and delivery targets for the year. Tesla shares have been on a tear for the last six months and the company's market value now is more than Ford Motor (NYSE:F) Co and General Motors Co (NYSE:GM) combined and second to only Japan's Toyota Motor Corp. At least nine analysts raised their price targets on the stock, with Canaccord Genuity's analyst Jed Dorsheimer more than tripling his price target to $750. The higher delivery forecast suggests Tesla is looking at a steadier chapter after years of steep losses, production troubles and clashes between Chief Executive Officer Elon Musk and U.S. regulators. Credit Suisse (SIX:CSGN) analyst Dan Levy said that Tesla checks a number of boxes for investors and noted that the key takeaway from the quarter was the company's promise of comfortably delivering over 500,000 units this year.

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TAX PLANNING

TaxBit Network welcomes SoFi Technologies

TaxBit | April 29, 2022

TaxBit, the leading tax and accounting software provider for the tokenized economy, announces SoFi Technologies, the digital personal finance company, is joining the TaxBit Network—the first-of-its-kind network to provide free cryptocurrency tax forms to all users of the over 20 TaxBit Network companies. Historically, the process of generating cryptocurrency tax forms costs individuals anywhere from hundreds to thousands of dollars per year depending on whether they used do-it-yourself software or enlisted an accountant. The TaxBit Network eliminates this barrier to mainstream digital asset adoption with every SoFi user of a supported TaxBit Network company receiving free, accurate crypto tax forms. Adding a company like SoFi to the TaxBit Network is a major step for the digital asset world. This is a traditional finance company entering the world of crypto in a big way. We are thrilled to have them join our network and we look forward to assisting their clients in this new and ever-changing landscape." Austin Woodward, TaxBit CEO. In tandem with the launch of TaxBit Network, SoFi will be incorporating a one-click, free TaxBit sign-up within their native applications to further simplify access to 2021 tax forms and year-round access to TaxBit's industry-leading software. Our mission is to help people get their money right, and joining the TaxBit Network makes it easier than ever to do that by making it simpler for our members to manage their taxes on cryptocurrency, We have seen a growing appetite for crypto investing among our members, and we know that trend is only to continue on as we see more and more people jumping into the market. We're thrilled to be getting ahead of the curve in meeting that need, and the implications that come with the trading of cryptocurrency, alongside TaxBit." Anthony Noto, CEO of SoFi. The TaxBit Network provides users the ability to easily integrate their cryptocurrency exchange, DeFi, and NFT data, see their tax calculations line-by-line and aggregate tax positions, and download completed IRS Forms 8949 and Income reports that are ready to upload to popular tax filing software or hand over to an accountant—all for free for users of supported TaxBit Network companies, like SoFi. TaxBit's team of industry-leading CPAs and tax attorneys have certified the accuracy of tax calculations related to platforms within the TaxBit Network, including reconciling tax forms to all Forms 1099 issued by such platforms. About TaxBit Designed by CPAs and tax attorneys, TaxBit is the leading tax and accounting solution for the tokenized economy. TaxBit's platform serves the industry's top exchanges, institutional investors, governments, and individuals. TaxBit has raised over $230 million from the world's-top investors in order to enable widespread digital asset adoption by automating the regulatory hurdles of tax and accounting compliance at scale. TaxBit has HQ in Salt Lake City and Seattle.

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PAYMENTS

Huntington National Bank expands digital payments through acquisition of fintech Torana

Huntington | May 16, 2022

Huntington National Bank, a subsidiary of Huntington Bancshares, Incorporated (Nasdaq: HBAN) announced today it has acquired Digital Payments Torana, Inc. (Torana), a business-to-consumer payments fintech based in San Francisco. Torana's digital payments solution, which will launch as Huntington ChoicePay, will further enhance Huntington's digital capabilities and advance Huntington's enterprise payments strategy. Torana's payment solution is a software as a service (SaaS) model built in the cloud and will enable Huntington and its clients to distribute digital payments to a variety of end users. Torana's acquisition aligns with our enterprise payments strategy of servicing clients across businesses of all sizes and enables us to maintain a leadership position within our commercial banking segment and further develop additional scale in verticals such as healthcare, public sector, insurance and Huntington's National Settlements business, Huntington ChoicePay technology enhances our commitment to delivering differentiated, automated experiences through best-in-class digital tools, and it aligns extremely well with our digital innovation roadmap. Scott Kleinman, co-president of Huntington Commercial Banking. This payment solution will increase engagement with our business and commercial clients because of its ability to rapidly distribute payments to end consumers who are increasingly seeking a faster and broader range of payments options – all critical drivers of customer satisfaction. Kleinman. About Huntington Huntington Bancshares Incorporated (Nasdaq: HBAN) is a $177 billion asset regional bank holding company headquartered in Columbus, Ohio. Founded in 1866, The Huntington National Bank and its affiliates provide consumers, small and middle‐market businesses, corporations, municipalities, and other organizations with a comprehensive suite of banking, payments, wealth management, and risk management products and services. Huntington operates more than 1,000 branches in 11 states, with certain businesses operating in extended geographies.

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TRADING SYSTEMS

Hirander Misra of GMEX Group receives the Hind Rattan Award

GMEX Group | April 18, 2022

London, New Delhi, 14 April 2021 - Hirander Misra, Chairman & CEO of GMEX Group, a leader in digital business and technology solutions for exchanges and post-trade market infrastructure, has received the prestigious Hind Rattan award. The Hind Rattan, translated into English as "Jewel of India", is one of the highest awards granted annually to non-resident persons of Indian origin in recognition of their outstanding services, achievements, and contributions in their respective fields. It is awarded by the NRI Welfare Society of India at the Society’s annual congress. The Hind Rattan Awards honour high achievers of Indian origin from professional disciplines. Over the past 41 years, the NRI Welfare Society of India has become a strong bridge connecting people of Indian origin with India. Its focus is to "strengthen emotional bonds" between the diaspora and the country. The Hind Rattan award was presented on 14th April 2022 during the 41st International Convention of Non-Resident Indians (NRI’s) at the Constitution Club in New Delhi. The award ceremony was attended by members of the Indian Parliament, the Government of India and the Supreme Court of India, other preeminent dignitaries, business leaders, celebrities and NRIs from all over the world. Speaking during the ceremony, Hirander Misra said “It is an absolute privilege to receive this award and be recognised for my work in the fintech capital markets arena for the last 26 years, a decade of which has been at GMEX Group, which I co-founded.” He added “I thank The NRI Welfare Society of India for this accolade and really value the work they are doing to ensure strong links between India and its diaspora.” “We are proud of NRIs like Hirander Misra for making substantial contributions in strengthening India’s position in the global economy,” said Mr. Deepak Singh, convener of the NRI Welfare Society of India. Media Contacts GMEX Group Melanie Budden The Realization Group Tel: +44 (0)7974 937 970 melanie.budden@therealizationgroup.com pr@gmex-group.com About GMEX Group GMEX is a global market infrastructure vendor providing multi-asset trading, exchange matching engine and post-trade business solutions, and Ecosystem-as-a-Service (EsaaS) technology. These include, the GMEX MultiHub, which is a cloud based trading and post trade digital market infrastructure platform that as a ‘multi-asset network of networks’ facilitates a first of its kind collaboration across major institutions, regulatory regimes and start-ups with the goal of bringing digital assets to a wider audience. For more information visit www.gmex-group.com or Twitter @GMEX_Group

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PAYMENTS

Affirm Partners with Agoda to Bring Travelers More Flexible Payment Options

Affirm | June 14, 2022

Affirm, the payment network that empowers consumers and helps merchants drive growth, today announced a partnership with global travel platform Agoda, part of Booking Holdings, the world’s leading provider of online travel and related services. Now, eligible travelers can book their hotel accommodations for upcoming trips across the Agoda platform both on web and via the app and pay over time for bookings over $50. By selecting Affirm as a checkout option on the platform, eligible travelers can split the total cost of purchases into either biweekly or monthly payments for as low as 0% APR. They are shown the total cost of their purchase and will never pay more than the agreed amount upfront. With Affirm, customers will know exactly what they owe with no additional late charges or hidden fees. Agoda integrates Affirm’s Adaptive Checkout to offer customers dynamic payment options to suit a variety of budgets and preferences, including four interest-free biweekly payments as well as monthly payment options. We are always looking for innovative ways to help more people access travel, using tech to simplify the search, booking and payment processes, The launch of pay-over-time options with Affirm will enable travelers in North America who might have previously found it inconvenient to pay for their booking in one lump sum to spread the costs over multiple payments without incurring any compound interest or additional costs. We’re helping consumers get back out into the world of travel – on their own terms.” Agoda’s Chief Financial Officer Thi-Mai-Linh Bui. According to a recent Affirm Consumer Spend Report, 80% of consumers agree that 2022 will be the year they splurge on a bucket-list trip and nearly 30% plan to pay for travel expenses over time instead of all at once, Our partnership with Agoda gives more travelers a budget-friendly way to pay for their next milestone vacation so they can travel without concern for late or hidden fees.” Affirm’s Chief Revenue Officer Geoff Kott. Agoda joins over 200,000 Affirm retail partners, including American Airlines, Vrbo, Priceline, Vacasa, and more. Offering Affirm at checkout can reach new customers, drive overall sales, increase average order value and customer repurchase rates. About Affirm Affirm’s mission is to deliver honest financial products that improve lives. By building a new kind of payment network — one based on trust, transparency and putting people first — we empower millions of consumers to spend and save responsibly, and give thousands of businesses the tools to fuel growth. Unlike most credit cards and other pay-over-time options, we show consumers exactly what they will pay up front, never increase that amount, and never charge any late or hidden fees. About Agoda From its beginnings as an e-commerce start-up based in Singapore in 2005, digital travel platform Agoda has grown to offer a global network of over 2.5 million properties in more than 200 countries and territories worldwide, offering travelers easy access to a wide choice of luxury and budget hotels, apartments, homes and villas, to suit all budgets and travel occasions. In 2019, Agoda added a flight product and packages to help make travel even easier.

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