Driven, formerly Thinking Capital, provides flexible capital to small businesses. The company's services include personalized support, and data science and technology to Canadian small business owners. Driven was founded in 2006 and is based in Toronto, ON. In March 2018, Driven was acquired by Purpose Investments, valuing the company at $155.78M dollars.
Expert Collections containing Driven
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Driven is included in 1 Expert Collection, including Fintech.
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Latest Driven News
Jun 16, 2023
Crypto Firms Are Being Driven Away from the US Dana LeighJune 16, 2023 In recent years, the cryptocurrency industry has faced mounting challenges as regulatory scrutiny and uncertainty in the United States have intensified. The once-promising market has witnessed a decline in investor sentiment, a loss of trust, and a significant drop in overall market value. Andrew Durgee, managing director of the crypto division at Republic, a tech firm, expressed concerns to the BBC over the growing hostility faced by the industry in the US. He notes that his firm’s investments in US-based crypto companies have drastically decreased, reflecting the perception that the country has become increasingly unfriendly towards digital assets. Regulatory uncertainty is cited as a significant deterrent to investments, as the sector already faced pressure from last year’s cryptocurrency price collapse and high-profile firm failures. US regulators, prompted by market turmoil and investor protection concerns, have intensified their policing of the crypto industry. Multiple charges have been filed against firms and executives, ranging from failure to comply with registration requirements and provide adequate disclosures to more severe allegations of consumer fund mishandling and fraud. While Bitcoin, as a commodity, remains largely unaffected, token issuers and exchanges have become the primary targets of regulatory actions. Notably, Coinbase and Binance , two leading platforms, faced legal actions as regulators sought to rein in their operations. The recent lawsuits against major crypto platforms have led to significant market consequences. Customers withdrew billions of dollars from the platforms, and US banks restricted their collaboration with Binance. Robinhood, a popular trading app, ceased listing certain assets mentioned in the lawsuits due to the surrounding “cloud of uncertainty.” The industry, once valued at over $3 trillion in 2021, has seen its market value drop by a third, trading volumes decrease, and developer interest wane. Trust in the system has been severely battered. Critics accuse the Securities and Exchange Commission (SEC) chairman, Gary Gensler, of engaging in hostile “regulation by enforcement” to boost his political profile. Despite industry efforts to propose new rules, the SEC has been criticised for failing to recognise the distinctions between different types of crypto firms and the technological characteristics that challenge existing frameworks. The SEC’s actions have created a frustrating environment for crypto firms, some of which struggle to find banks willing to engage in business partnerships. Observers claim that the SEC’s agenda appears to seek the elimination of crypto from the US market. While the regulatory crackdown has posed significant challenges, some industry participants remain optimistic about the future. Bart Stephens, managing partner of Blockchain Capital, believes the sector’s prospects are bright, albeit potentially overseas due to the current unfriendly US approach. Bitcoin and Ether prices have shown resilience, and indicators like active blockchain addresses and executed smart contracts are on the rise. Nonetheless, losing the US market would undoubtedly limit the industry’s potential for growth. Crypto industry stakeholders are looking to various avenues for a potential reprieve. They hope for favourable court decisions that may curb the SEC’s authority, supportive legislation from Congress, or a policy reversal driven by changes in the White House. The outcome of these factors will ultimately determine the industry’s trajectory. Conclusion The crypto industry is at a critical juncture in the United States, with growing hostility and regulatory uncertainty threatening its future. The intensified crackdown by US regulators has resulted in market repercussions, reduced trust, and a decline in overall market value. While some industry insiders remain optimistic, the potential loss of the US market would undoubtedly limit the sector’s growth. Stakeholders are eagerly awaiting court decisions, legislative actions, or policy shifts that could provide a reprieve. The showdown between regulators and the crypto industry has reached a pivotal moment, with far-reaching implications for the sector’s fate.
Driven Frequently Asked Questions (FAQ)
When was Driven founded?
Driven was founded in 2006.
Where is Driven's headquarters?
Driven's headquarters is located at 130 Adelaide St W, Toronto.
What is Driven's latest funding round?
Driven's latest funding round is Acquired.
Who are the investors of Driven?
Investors of Driven include Purpose Investments.
Who are Driven's competitors?
Competitors of Driven include Lendified.
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