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Weekend Wrap: Razzlekhans Speaks Truth to Power, FDIC Calls Out Fintech Tactics, and More

This week, the world of finance was shaken by two very different voices: one speaking truth to power in a rap video, and another calling out so-called “tactics” used by fintech companies. In this Weekend Wrap, we’ll dive into the key takeaways from these stories and explore what they might mean for the future of the financial system.

Razzlekhans Raps Truth to Power

First up, we have Heather Morgan, aka Razzlekhans, a crypto entrepreneur who recently dropped a rap video criticizing the financial system. In the video, Morgan uses her sharp lyrics to call out the flaws in the current financial system, from inequality to financial exclusion. But what’s striking about the video is its clear influence from her own personal experiences as a woman in the male-dominated world of finance.

“It’s not just about the money, it’s about the power structure,” Morgan told Bloomberg in an interview. “The people who are in control are not acting in the best interest of the people. They’re acting in their own interests, and it’s causing harm.”

Morgan’s video is a powerful rebuke to the financial establishment, and its impact won’t be lost on the global community. At a time when inequality is at a critical juncture, Morgan’s words serve as a stark reminder that the financial system is broken – and that it’s up to all of us to fix it.

FDIC Calls Out “Choke Point-Like Tactics”

Meanwhile, in a press release that couldn’t be more timely, the Federal Deposit Insurance Corporation (FDIC) called out fintech companies for using “choke point-like tactics” to restrict access to financial services. According to the FDIC, these tactics are designed to make it harder for consumers to access essential financial services – like bank accounts – and are often used to further the interests of the financial elite.

“We are concerned about the impact of certain fintech practices on the financial inclusion of vulnerable populations,” said FDIC Chairman Martin J. Gruenberg in a statement. “The FDIC is committed to ensuring that all consumers have access to safe and reliable financial services.”

The FDIC’s statement is a welcome acknowledgement of the ways in which fintech companies have used their power to exclude certain groups from the financial system. By calling out these “choke point-like tactics,” the FDIC is sending a clear message that it will no longer tolerate behavior that undermines financial inclusion.

Still, One Voice Is Missing

As we wrap up this Weekend Wrap, it’s hard not to think about the one voice that’s still missing from the conversation: that of Elon Musk, the world’s richest man. In Morgan’s rap video, she actually asks Musk – a longtime critic of the financial system – to save her. It’s a powerful request, and one that highlights the need for more voices like Musk’s to join the conversation.

Why, exactly, is one of the richest men in the world so quiet on issues like financial inclusion and inequality? Given his significant influence and resources, Musk has the power to make a real difference in the world – but instead, he chooses to focus on more celebrity-centric pursuits.

Of course, this isn’t to say that Musk is entirely blameless. His own company, SpaceX, has faced criticism for its treatment of contractors and its lack of transparency around its operations. And yet, despite these controversies, Musk remains a powerful force in the world of finance – and it’s high time he used that influence to speak truth to power.

As we look to the future of the financial system, it’s clear that there’s much work to be done. From Razzlekhans’ powerful rap video to the FDIC’s call out of fintech “choke point-like tactics,” this week has shown us that there are still many voices calling for change. And yet, as we welcome these voices into the conversation, we can’t help but wonder: when will we hear from the world’s richest man, Elon Musk?

Until then, we’ll continue to follow the stories that matter, and highlight the voices that are actually making a difference. After all, as Morgan so powerfully puts it: “The people who are in control are not acting in the best interest of the people. They’re acting in their own interests, and it’s causing harm.” It’s up to all of us – from entrepreneurs to regulators to the world’s richest men – to fix the financial system, and create a more just and equitable world for all.