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CafeCredit.com via Flickr CC

U.S. financial technology startups are losing investment share, while it's becoming easier for Asian fintech startups, as noted in a TechCrunch post by Israel-based financial analyst Nikolai Kuznetov.

It's been a steep plunge: U.S. fintech startups last year secured 37.5% of the $2.4 billion invested into the sector, but the number of companies dropped by 68%, according to KPMG. Investments (by amount invested) in Asia grew 150% from Q2 2016 to Q4 2016 as the U.S. dropped consistently.

We're losing to Asia: The five largest investments in the last five quarters were all in Asia. Plus, for the last two quarters, Asian fintech companies attracted about $700 million more in VC funding than did U.S. fintech companies.

Part of the problem: The two states — New York and California — that host the most U.S. fintech startups, ranked last on a recent British Treasury list of places with friendly policies toward fintech companies. Consider this: the EU, China, and India each recently eased laws and regulations that would have limited fintech companies.

Why this matters: This is likely to ring alarm bells for Donald Trump, who despises falling behind, and especially despises falling behind Asian countries. It also could be a symptom of the expected hike in interest rates in the U.S. and the belief that banks are going to grow their bottom line and are less inclined to invest in fintech.

Go deeper

Ben Geman, author of Generate
2 hours ago - Energy & Environment

Key clean power provision likely won't survive in Dems' spending bill

A construction worker walks along a dirt road at the Avangrid Renewables La Joya wind farm in Encino, New Mexico, on Aug. 5, 2020. Photo: Cate Dingley/Bloomberg via Getty Images

A pillar of Democrats' plans to speed deployment of zero-carbon electricity is likely to be cut from major spending and tax legislation they are struggling to move on a party-line vote, per multiple reports and a Capitol Hill aide.

Driving the news: The New York Times, citing anonymous congressional aides and lobbyists, reports that West Virginia Sen. Joe Manchin (D) has told the White House he "strongly opposes" the Clean Electricity Performance Program.

Updated 4 hours ago - World

Fatal stabbing of British MP David Amess declared a terrorist incident

Police outside Belfairs Methodist Church in Leigh-on-Sea, England, on Oct. 15. Photo: John Keeble/Getty Images

Authorities have declared the death of David Amess a terrorist incident, hours after the Conservative Party lawmaker in the U.K. was fatally stabbed while meeting with local constituents in a church in eastern England on Friday.

The big picture: The Metropolitan Police has found "a potential motivation linked to Islamist extremism."

Biden: DOJ should prosecute those who defy Jan. 6 subpoenas

President Biden speaks with reporters at Bradley International Airport in Windsor Locks, Connecticut. Photo: Brendan Smialowski/AFP via Getty Images

President Biden said Friday that the Justice Department should prosecute those who defy subpoenas from the Jan. 6 select committee.

Why it matters: The president's remarks come one day after Donald Trump ally Steve Bannon failed to show up for a deposition before the committee.