Strong dollar poses threats for European (Fin)Techs 😳💵; 4 Bitcoin charts that will surprise you 🤯; Has crypto died in India? 🤔

FinTech is Eating the World, 4 October

Hey Everyone,

Happy Tuesday! Today’s issue is super interesting and important for the larger macro context. We’re looking at the strong dollar that poses threats for European (Fin)Techs (& what are the potential opportunities), 4 Bitcoin charts that will surprise you (I promise!), and questioning whether crypto has died in India? (data is both promising and not…). Let’s jump straight into the cool stuff:

Strong dollar poses threats for European (Fin)Techs 😳💵

What’s happening? 🤔 European and UK founders have a lot of things to worry about this year. In addition to the energy crisis and rising inflation, the list now includes a sinking currency - in the year to date, the pound is down nearly 15% against the dollar while the euro has lost more than 12% of its value. Ouch! 😳

As it’s visible from the below chart, such a nosedive hasn’t been seen in decades:

Why does this matter? 🤔 This macroeconomic cataclysm will undoubtedly prove incredibly challenging for lots of startups. Yet, for others, there may actually be some benefits amid all the drama.

Here’s more on that + the takeaway on how the devalued GBP/EUR will affect European (Fin)Tech companies: