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Newity has raised $11 million in new funding led by CMT Digital as it explores taking its small business lending platform onchain.
The fintech firm says it has helped over 125,000 businesses access $12 billion in loans and plans to announce its blockchain strategy in Q1.
Newity, a fintech firm focused on facilitating small business loans, has raised $11 million in a strategic funding round as it explores bringing those loans onchain.
CMT Digital, a division of trading and investment firm CMT Group, led the round, Newity said Thursday. Additional participants included private and institutional investors, Newity co-founder and co-CEO David Cody told The Block, but he declined to disclose their names.
Cody said the round marks Newity’s first fundraise, which began at the end of 2024 and closed in December 2025. The round was structured as a simple agreement for future equity (SAFE), he said, declining to disclose Newity’s valuation or whether any investors received board or advisory seats.
Newity was founded in 2020 during the COVID-19 pandemic by Cody and co-CEO Luke LaHaie to help small businesses navigate funding challenges during the Paycheck Protection Program, a U.S. Small Business Administration (SBA) loan initiative launched to support businesses during the crisis. After the program ended in May 2021, Newity shifted its focus to SBA 7(a) government-backed loans and growth term loans.
Newity itself is not an SBA lender. Instead, it acts as a lending service provider to participating SBA lenders, including Northeast Bank, which ultimately originate and approve the loans. Cody declined to name other lenders Newity works with.
Since launch, Newity said it has processed and serviced more than $12 billion in financing for over 125,000 small businesses. Cody said the average loan size is approximately $118,800 life-to-date, with a maximum loan size of $350,000.
Asked how using Newity differs from applying directly through an SBA lender, Cody said borrowers working directly with lenders must follow each lender’s process and timeline, which can vary significantly. “Some lenders have adopted technology; others still rely heavily on paper,” he said.
Newity, by contrast, offers a fully online application process, automated documentation workflows, and a dedicated team to move applications forward. Borrowers can receive funding in as little as three weeks through Newity, compared with traditional timelines that can exceed 12 weeks, he added.
Cody said Newity’s “AI-first underwriting platform” analyzes hundreds of data points — including credit checks, identity verification, and tax document summaries — to determine eligibility and streamline the application process. “This allows borrowers to receive a prequalified loan amount in less than 10 minutes and funding in as little as 21 days, rather than waiting 12+ weeks,” he said.
Newity generates revenue through loan-processing fees. On its crypto strategy, Cody said the firm is exploring various options to take loans onchain and expects to announce its path in the first quarter.
We’re not improving small business lending, we’re reinventing the financial infrastructure that connects entrepreneurs to capital,” LaHaie said. “AI and blockchain give us the infrastructure to empower our team to operate at the scale that this market demands.”
Newity is headquartered in Chicago and has about 115 employees, most of whom work from the office, with some remote staff, Cody said. The firm is actively hiring across partner, marketing, and technology roles, he added.
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This hiring roundup was written in conjunction with crypto-native executive search firm Intersection Growth Partners.
It combines Intersection’s monthly newsletter, which includes unreported executive hires, and The Block’s monthly hiring update.
Crypto hiring remained active through November, with exchanges, payments firms, and infra teams adding senior operators across product, legal, and BD. Venture firms continued to promote from within, while Bitcoin-native projects and ZK ecosystems expanded leadership teams ahead of 2026 roadmaps. Talent flowed in from traditional finance and big tech, particularly in compliance, partnerships, and brand management.
Infrastructure, security, and payments companies saw the largest concentration of new roles. Several networks made strategic marketing and growth hires, while stablecoin and tokenization initiatives pulled in senior talent from banks and fintech.
Anchorage: David Lawant joined as Head of Research. He was previously Head of Research at FalconX.
Bitget: Ignacio Aguirre Franco was appointed Chief Marketing Officer.
BitMine Immersion Technologies: Chi Tsang was appointed Chief Executive Officer and joined the board.
BNB Chain: Nina Rong joined as Executive Director of Growth.
Circle: Wyatt Robinson joined as Chief Counsel, Payments. He was previously Senior Corporate Counsel at Microsoft. Erika
Peterson joined as VP, Global Ecosystem. She was previously MD, Corporate Strategy at BlackRock.
Coinbase: Shannon Kurtas joined as Head of Coinbase Advanced. He was previously VP, Product at Kraken. Liz Martin joined as VP, Product for Derivatives and Markets. She was previously a Partner at Goldman Sachs. Gareth Kay joined as VP, Brand. He was previously a Partner at The Intangibles. Joe Staples joined as VP, Creative. He was previously a Partner at Mother.
Deel: Thierry Edde was promoted to Head of Crypto.
FalconX: Eesa Ahmad joined as Senior Executive, Institutional Sales. He was previously Senior Director of Institutional Sales at Crypto.com.
Huma Finance: Jessica Cao was appointed APAC CEO. She previously held senior roles at Ant International, BNP Paribas, Citi and Standard Chartered.
MoonPay: Zach Kwartler joined as Head of Stablecoins. He was previously Product Lead, Platform at Paxos.
Morpho: Tarik Bellamine joined as Head of Engineering. He was previously a Senior Engineering Manager at Uniswap Labs.
OpenFX: Rushil Gambhir joined as Product Lead, Payments and New Markets. He was previously VP, Product Management at Mastercard Move.
TeraHash: Hunter Rogers joined as Co-Founder. He previously served as Senior Ecosystem Development and Investment Lead at TRON DAO.
Variant: Caleb Shack joined as Investment Partner. He was previously Head of Ecosystem at Arch Network.
Visa: Matt Austin joined as Senior Director, Business Development, Visa Crypto. He was previously Director of Strategic Initiatives at Ripple.
Wintermute: David Micley joined as Head of US BD. Dmitry Kotov joined as Lead US Counsel. H. Branch Johnson joined as Managing Director, BD. Matthew Pizzo joined as Chief Compliance Officer.
Zcash Foundation: Pili Guerra was promoted to Head of Engineering. Danika Delano was promoted to Chief Operating Officer.
Zerohash: Aaron Karczmer and Danny Rosenthal joined the board. Karczmer is CEO of K2 Integrity. Rosenthal is Founder and CEO of Nutshell Labs.
Stripe: Ernie Tedeschi joined as Chief Economist.
Tether: Bloomberg reported that Vincent Domien and Mathew O’Neill will join to support the firm’s expansion of gold-backed reserves.
AlphaTON Capital: William De’Ath was appointed Chief Partnership Officer.
Blockchain.com: Lane Kasselman was promoted from President to Co-CEO and President.
a16z crypto: Guy Wuollet was promoted from Investment Partner to General Partner.
QuickNode: Jason Hunt was promoted from Chief Strategy Officer to Chief Revenue Officer.
CFTC: Michael Selig was nominated to serve as Chairman and Commissioner. He is Chief Counsel of the Crypto Task Force and Senior Advisor to the SEC Chairman.
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Crypto industry sources who spoke with The Block this past week said crypto market structure legislation is hung up on two major sticking points — how to treat stablecoin yield and how to address President Donald Trump’s conflicts of interest in crypto.
A Senate Banking Committee hearing on Thursday morning with SEC Chair Paul Atkins will be telling on where Democrats stand on ethics.
Crypto industry views diverge sharply on the likelihood that Washington will pass sweeping digital asset legislation in 2026, with estimates ranging from 25% to 60% following a turbulent start to the year.
Ron Hammond, head of policy and advocacy at Wintermute, gave those odds a 25%.
Crypto industry sources who spoke with The Block this past week said crypto market structure legislation is hung up on two major sticking points: how to treat stablecoin yield and how to address President Donald Trump's conflicts of interest in crypto. If passed, a bill would broadly regulate the crypto industry, in part through designating jurisdiction between the U.S. Securities and Exchange Commission and the Commodity Futures Commission, new disclosure requirements, and other standards.
That's even higher among some of my peers," Hammond said in an interview.
Bank and crypto representatives met at the White House this week for the second time this month in an effort to narrow their differences.
Stablecoin rewards have emerged as the central flashpoint between banks and segments of the crypto industry. Banking groups have criticized a stablecoin law that passed over the summer, called GENIUS. Banks say allowing stablecoin yields could draw deposits away and harm community banks. Still, some in crypto argue that the issue has already been debated and accuse banks of trying to curb competition. Industry meetings on rewards are happening almost daily, one source familiar with the matter told The Block.
According to one source familiar with the talks, crypto stakeholders "really dug in," strongly pushing back against several of the banking sector’s proposals.
During the meeting, banks proposed a set of principles, calling for strict restrictions that go beyond the latest draft of a crypto market structure bill. A previous Senate Banking Committee version would bar yields or interest for passive stablecoin holdings but would allow narrower, activity-based rewards or incentives.
"If banks want a change, if they want rewards more limited, then they need a bill," he said in an interview. "So in some sense, banks need a market structure bill just as much or even more than crypto does."
Still, Kevin Wysocki, head of policy at Anchorage Digital, said he believes there will be a solution to the stablecoin issue. If the current law remains unchanged, stablecoin rewards would continue to be governed by the GENIUS Act, which bars issuers from paying direct interest to holders but does not prohibit third-party platforms, such as Coinbase, from offering rewards.
Wysocki put the odds of passage in 2026 at 50%. "I think it's because the banks need it," he said, adding that people in crypto also really want a bill to pass into law.
A source familiar said stablecoin rewards were the biggest issue right now and that there will not be support from Republicans until the issue is addressed.
There needs to be a deal," that source said. "The conversation needs to turn from principles to redlines to actual text and proposals."
The clock is ticking," they added. They gave the chance of a bill passing into law in 2026 a 60%."
Beyond policy disagreements, ethics questions tied to Trump’s crypto ventures are further complicating the bill’s path.
The Senate Banking Committee's hearing on Thursday morning with SEC Chair Paul Atkins will be telling on where Democrats stand on ethics, Wintermute's Hammond said. On Wednesday, Atkins faced intense questioning from Democrats in the House Financial Services Committee over the SEC's steep decline in digital assets and Trump's ties to the crypto industry.
Trump has raked in about $1.4 billion from his crypto ventures, including from World Liberty Financial, Bloomberg estimated last month. The Trump family also holds a 20% stake in the mining firm American Bitcoin
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For better or for worse, the president's involvement and the family's involvement in the crypto industry, there has been a very mainstream narrative around the corruption of this administration, or perceived corruption tied to a lot of the crypto industry itself," Hammond said
The Senate Banking Committee may decide not to bring up ethics. The committee's chair, Tim Scott, told CoinDesk that language should instead go through the ethics committee.
The looming midterm elections add another layer of uncertainty. Already, crypto-focused political action committees are amassing millions to prepare.
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