Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
Category Archives: Voices
Celebrating 7 Years of Regulation Crowdfunding: 4100 Startups Now Valued at $60 Billion
Crowdfund Capital Advisors | Sherwood Neiss | May 16, 2023
Image: Crowdfund Capital Advisors
Today marks a significant milestone as we celebrate the 7th anniversary of Regulation Crowdfunding (Reg CF).
Regulation Crowdfunding (Reg CF) has become successful for several reasons:
- Democratization of Investment: Reg CF has significantly democratized access to capital, enabling individuals to invest in the companies they believe in. This democratization has diversified the investor pool and allowed people who might not otherwise have access to investment opportunities to participate in the financial growth of startups and small businesses.
- Promotion of Diversity and Inclusivity: Reg CF has promoted diversity and inclusivity in the entrepreneurial ecosystem. With up to 50% of the capital going to companies with at least one woman or minority founder, this type of funding is opening the doors for underrepresented groups in business.
- Job Creation: Reg CF has proven to be a significant job creator. It has been instrumental in creating or supporting over 380,000 jobs, thereby becoming an important factor in driving local economies.
See: Equity Crowdfunding Demystified: Insights from Wefunder and Equivesto
As for the impact of Regulation Crowdfunding:
- Economic Impact: To date, $1.8 billion has been invested by 1.7 million investors into over 4,100 startups and small businesses across 1,700 cities in the USA. Moreover, it has contributed approximately $4.7 billion to the overall economy through salaries, inventory, rent, professional services, and various operational expenses.
- Wealth Creation: Companies that have raised funds via Reg CF are now valued at over $60 billion, indicating that average American investors have the potential to realize substantial wealth. This democratizes wealth creation, providing an opportunity for everyday Americans to partake in the financial success of early-stage companies.
- Promotion of Entrepreneurship: By unleashing the entrepreneurial spirit of America, Reg CF has generated jobs and fostered economic growth, becoming a powerful force in supporting local businesses and driving economic prosperity.
Overall, Regulation Crowdfunding has had a significant impact on the US economy and society by democratizing capital, creating wealth, generating jobs, and boosting local economies. Its future potential remains robust, with more opportunities expected to arise for individuals to participate in this transformative investment landscape.
See: CCA 2022 Investment Crowdfunding Report: 7 Charts Highlight Growth and Impact
Sherwood Neiss, Principal at Crowdfund Capital Advisor:
Regulation Crowdfunding has unlocked an unprecedented opportunity for everyday Americans to invest in early-stage companies and participate in the creation of wealth. It has brought about a level playing field, something that the private capital markets have not been able to accomplish until Reg CF became a reality.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Binance Withdraws from Canadian Market due to Tightened Crypto Regulations
Global News | Craig Lord | May 12, 2023 | Last Updated Oct 28, 2026
Image: youtube
Binance, the world's leading cryptocurrency exchange, has announced it is ceasing operations in Canada.
Oct 28, 2026 Update: Binance’s Canadian exit did not end its regulatory disputes. The company’s fight with the Ontario Securities Commission has since reached the Supreme Court of Canada. Read the full NCFA Story, Binance Left Canada but the Fight Reached Supreme Court, for the history of the case and what the ruling could mean for regulatory powers in Canada.
- The decision, communicated via Twitter, is in response to recent regulatory changes in the Canadian crypto market, including fresh guidance concerning stablecoins and investor limits. These regulatory changes, according to Binance, have rendered the market infeasible.
- The Canadian authorities have been reinforcing regulations for crypto asset trading platforms, implementing a pre-registration process and potential enforcement action for non-compliance.
- Binance, which had already faced restrictions in Ontario since 2022, found no viable way to continue its operations under these conditions.
See: Will Binance Severes U.S. Ties in Face of Crypto Crackdown
- Impact:
- Canadian customers are to receive detailed information on the impact on their accounts via email.
- Binance has expressed hopes of returning to the Canadian market in the future, when a broader range of digital assets becomes accessible.
- The exchange also expressed its intent to continue dialogue with Canadian regulators to develop a comprehensive regulatory framework, despite its disagreement with the current guidance.
- This move comes amidst increased regulatory scrutiny of the digital asset industry worldwide, notably following the collapse of Binance's competitor, FTX, in November and the subsequent crypto winter of 2022.
- Regulatory bodies are demanding stricter guidelines for crypto companies regarding their operations and management of customer funds. Binance and its CEO, Changpeng Zhao, also face a lawsuit by the U.S. Commodity Futures Trading Commission over allegations of running an "illegal" exchange and a "sham" compliance program.
Unfortunately, today we are announcing that Binance will be joining other prominent crypto businesses in proactively withdrawing from the Canadian marketplace.
We would like to thank those regulators who worked with us collaboratively to address the needs of Canadian users.…
— Binance (@binance) May 12, 2023
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The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Giannis Antetokounmpo Just Delivered an 8-Word Master Class in Handling Failure
Inc. | Justin Bariso | Apr 27, 2023
Image: Unsplash/Ian Kim
"It's not a failure. It's steps to success."
- NBA superstar Giannis Antetokounmpo was extremely disappointed. After a tough battle, his number one seeded Milwaukee Bucks had just been knocked out of the playoffs by the eighth-seeded Miami Heat. And then the question came from The Athletic reporter Eric Nehm: "Do you view this season as a failure?"
- "You asked me the same question last year, Eric," replied Antetokounmpo. "OK. Do you get a promotion every year? On your job? No, right? So every year you work is a failure--yes or no? Every year you work, you work toward something. Toward a goal, right? Which is to get a promotion, to be able to take care of your family, to be able to, I don't know, um, provide the house for them or take care of your parents. You work toward a goal. It's not a failure. It's steps to success."
See: Culture and Diversity Leadership: Tale of Two Doors
- Harness the power of emotional intelligence and resilience like NBA star Antetokounmpo to rebound from setbacks.
- Understand and manage your emotions in the face of challenges.
- Don't view disappointments or frustrations as failures, but as learning experiences.
- Drawing from personal experiences of overcoming adversity, the importance of perseverance, building good habits, and learning from mistakes.
- Remember, stumbling blocks are not failures, but stepping stones to success. It's all about learning how to bounce back and keep moving forward.
“Michael Jordan played 15 years, won 6 championships. The other 9 years were a failure?"
-Giannis' passionate response to if he considers the Bucks' season a failure pic.twitter.com/G5VtwnGXYq
— NBA on TNT (@NBAonTNT) April 27, 2023
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The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Protecting Financial Privacy in the Digital Age: Crafting a Stronger Framework
Cato Institute | Nicholas Anthony | May 2, 2023
Image: Pixabay/Geralt
- Financial privacy in the United States has been deteriorating over the past 50 years, with the third-party doctrine and Bank Secrecy Act weakening Fourth Amendment protections.
- The Right to Financial Privacy Act, enacted in 1978, provides some protections but is undermined by numerous exceptions. A revised legal and regulatory framework must protect against warrantless searches and seizures.
- Congress should amend the Right to Financial Privacy Act to remove exceptions, requiring government agencies to obtain warrants or subpoenas and notify Americans when accessing their financial information. This is necessary to restore financial privacy, particularly in the digital age.
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See: Financial Privacy: SEC Launches Enormous Database Compiling All Stock Trades
- Several key recommendations to establish a stronger framework for financial privacy in the United States.
- These include removing exceptions to the protections of the Right to Financial Privacy Act, eliminating 26 U.S.C. Section 6050I, strengthening the formal written requests provisions of the Act;
- Repealing the Bank Secrecy Act or at least its customer reporting requirements; R
- equiring inflation adjustments to reporting thresholds;
- Publicly reporting the effectiveness of suspicious activity and currency transaction reports; and
- Enacting protections for two-party transactions, such as peer-to-peer exchanges and self-hosted wallets, to prevent further encroachment of financial surveillance on Americans' privacy.
- Holding cryptocurrency in a “self‐hosted” wallet is merely the digital equivalent of holding physical cash in a traditional wallet. It gives the owner complete control over what’s held inside it and, to the extent that they want to do so, the ability to maintain their privacy. Congress should not let financial surveillance further encroach on Americans’ privacy by being expanded to cover self‐hosted wallets and peer‐to‐peer exchanges.
See: Office of the Privacy Commissioner Announces Digital ID Ecosystem Resolution to Ensure Transparency and Privacy
- It is time to reconsider the third‐party doctrine, the reasonable expectation of privacy, and financial privacy. “Having technology” in the 1970s meant having a television and an electric typewriter. Less than 20 percent of families had a credit card issued by a bank. Today, Americans use credit or debit cards for nearly all purchases, acquire loans directly on their phones, and leave a digital trail nearly everywhere they go. So, while such financial records may have offered only limited insights into one’s life in the 1970s, these financial records now offer a full, detailed representation of one’s life.
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The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Kraken, Web3 Foundation, Republic Crypto to Testify in Front of House Subcommittee on Digital Assets Financial Inclusion and Regulatory Gaps
Crowdfund Insider | | May 8, 2023
Last week, the House Subcommittee on Digital Assets, Financial Technology, and Inclusion announced a joint hearing with the Agriculture Subcommittee on digital assets, titled "The Future of Digital Assets: Measuring the Regulatory Gaps in the Digital Asset Markets."
- The hearing, scheduled for Wednesday, May 10, 2023, at 9:30 AM ET, will feature notable witnesses and will be live-streamed on the Committee website.
- The House Subcommittee hearing on digital assets will feature witnesses from Republic Crypto, Kraken Digital Asset Exchange, and Web3 Foundation, among others.
See: Industry Thinks Feds Are Trying to Kill Crypto, White House Denies It
- The discussion aims to address the inconsistent classification of digital assets as securities or commodities by the SEC and CFTC, which has created regulatory uncertainty.
- The hearing memo highlights the Howey Test, which is used to determine if an asset is a security, and notes contradictions between federal and state regulators' interpretations.
- The current legislation related to the hearing, the Resolution Expressing Support for Blockchain Technology and Digital Assets, acknowledges the need for Congress to create a consistent regulatory framework for digital assets and determine oversight rules.
Continue to the full article --> here
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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What Startup Rules Did Sam Altman Break During OpenAI’s Path to Its $30B Valuation?
Fortune | Steve Mollman | May 6, 2023
When it comes to artificial intelligence, Silicon Valley’s standard advice for startups might not apply.
- OpenAI, established in 2015, creators of ChatGPT and GPT-4, now boasts a valuation of nearly $30 billion. CEO Sam Altman, former head of Y Combinator, shared insights on the AI venture's unconventional rise to success during a recent Stripe-hosted fireside chat.
- Took 4.5 years to launch a product
- Most capital-intensive startup in Silicon Valley history
See: Successful Founders Weigh In: 10 Key Things to Do When Starting A New Venture
- Built technology without knowing target customers or use cases
- No social features or built-in sharing in chatgpt
- Required sign-up before use, no inherent viral loop
- Disregarded potential investors' criticisms
- Focused on technology rather than solving a specific problem
- Explored various ideas for GPT-3 and GPT-4 without committing to one domain (e.g., medical or legal)
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The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Diagram Ventures Announces $100-million 3rd Fintech Fund. Expands to the U.S.
Betakit |
Diagram Ventures remains bullish on FinTech companies as it launches its latest venture fund with a first close of $100 million CAD.
- Select insights from the interview with Francois Lafortune, co-founder and CEO of Diagram:
- The firm has commitments that bring its third fund closer to $120 million CAD. This is more than double the size of Diagram’s second fund, which closed at $55 million CAD.
- Not concerned about the current dip in the FinTech market and still sees tons of opportunity
- Through this latest fund, the firm will invest in both companies it helps create as well as companies it does not (to avoid limiting the funds potential)
FFCON23 Video: Venture Capital and the Future of Alternative Finance, Jan Arp, HoltxChange
- Montréal-based Diagram is also looking to expand its presence in the United States on-boarding partners Steve Schultz, previously of Amazon Web Services, and Ken Nguyen, of Insight Capital, joined the Diagram team earlier this year.
- The new fund is set to invest in approximately 20 companies from pre-seed through Series A stages ($3-5M CAD per). The majority of the capital (two-thirds) will go towards startups that Diagram co-creates, while the remainder will be external companies.
Continue to the full article --> here
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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