On February 14, the SEC announced a settlement with BlockFi Lending LLC (BlockFi), a crypto service provider, further showing the increased legal scrutiny in this area in terms of regulatory action, joining the Consumer Financial Protection Bureau (CFPB)’s settlement with… Read More ›
Startup Ecosystem
New York Bight Offshore Wind Development Procedures: BOEM Final Sale Notice v. Save Long Beach Island Matter
As it prepares for the New York Bight area offshore wind auction to be held on February 23, the Department of Interior’s Bureau of Ocean Energy Management (BOEM) issued a Final Sale Notice that outlines the procedures involved. The auction… Read More ›
Federal Cryptocurrency Case Challenges PoolTogether Inc.’s “No-Loss Lottery”
A case filed on November 30, 2021 in Federal Court in the Eastern District of New York, is making the assertion that the cryptocurrency based “no-loss lottery” of Pool Together, Inc. (PoolTogether) is unlawful. The case is one of the… Read More ›
New York State’s 2022 Offshore Wind Plans
On January 5, as part of her State of the State address, Governor Kathy Hochul announced the following additions to New York’s offshore wind efforts: A $500 million investment The 2022 launch of the New York State Energy Research and Development Authority… Read More ›
Concluded Legal Action against LendUp Loans, LLC, Provides Guidance for Other Lending Startups
Relevant to NYC’s lending startups, on December 21, the Consumer Financial Protection Bureau (CFPB) announced an agreement with LendUp Loans, LLC (LendUp) under which the company would cease making any new loans and collecting on certain outstanding loans among other restrictions and… Read More ›
NYC Takes Another Step Towards the Creation of a Climate Solutions Center
NYC Issues Request for Expressions of Interest to Create Climate Solutions Center On June 28, 2021, NYC announced the first step in an effort to create a Climate Solutions Center on Governors Island that would serve as a research and educational hub… Read More ›
The “New York Recovery Challenge 2021” Start-up Competition Launched by Cornell Tech & Partners
On September 29, 2021, the Jacobs Urban Tech Hub at Cornell Tech, along with Google for Startups and Tech:NYC announced a $150k Start-up competition called the “NYC Recovery Challenge 2021,” for the purpose of furthering Cornell Tech’s mission of building… Read More ›
The State of NYC’s Digital Economy in Q2 2021: Startup Ecosystem
INTRODUCTION & Q1 SUMMARY When it comes to NYC’s startup ecosystem which has over 9,000 companies and an estimated value of over $71 billion, the first quarter of the year was characterized by the Wall Street Journal as having gone… Read More ›
The State of NYC’s Digital Economy in Q2 2021: Universities
INTRODUCTION & Q1 SUMMARY The first quarter of 2021 saw NYU’s Entrepreneurial Institute begin its new Technology Venture Program, intended to launch the next generation of NYU technology based ventures. This effort sought to build upon a foundation that over the years… Read More ›