fintech
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U.S. enlists banks’ help to keep military tech out of Russian hands
Building on sanctions against Russian oligarchs and political leaders in response to the country’s war in Ukraine, the U.S. is…
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Klarna valuation to be chopped to $6.5bn in fresh fundraise
Klarna is nearing a deal to raise new money at a valuation of around $6.5bn, according to people familiar with…
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Money laundering watchdog pushes for crypto information-sharing rules
Most countries lack “travel rule” laws that could help prevent the illicit use of cryptocurrency by criminals and terrorists, a…
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FTX nears deal to buy crypto lender BlockFi in likely fire sale
FTX, the digital-asset exchange co-founded by Sam Bankman-Fried, is nearing an agreement to buy BlockFi after extending a credit line…
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Zilch draws $50 million more funding to buck BNPL industry woes
The buy now/pay later startup Zilch has raised a further $50 million, upping the total raise for its Series C…
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Missing ‘CryptoQueen’ added to FBI’s Most Wanted list
Ruja Ignatova, the self-styled “CryptoQueen” and founder of the OneCoin crypto project, has been added to the FBI’s 10 Most…
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Nutmeg CEO steps down after JPMorgan takeover: ‘I am now taking some time out’
The boss of the UK’s largest digital wealth manager Nutmeg has stepped down following the firm’s buyout by JPMorgan. A…
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Revolut appoints new US chief to lead expansion
Revolut has appointed a new chief executive in the US as it looks to expand its operations across the Atlantic.…
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Research Affiliates CEO calls crypto a ‘Ponzi scheme,’ questions ‘substance’ of blockchain
The chief executive of California-based asset manager Research Affiliates has called cryptocurrencies a “Ponzi scheme”, claiming bitcoin and the blockchain…
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Regulators in New York eye further crypto guidance
The head of the New York State Department of Financial Services said she wants the regulator to continue to be…
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Black entrepreneurs take aim at racial wealth gap by starting mortgage fintech
A fintech startup launching this Labor Day is looking to chip away at the racial wealth and homeownership gaps by…
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FCA probes Wise boss Kristo Kärmann after tax default
The Financial Conduct Authority has launched an investigation into Wise co-founder and CEOn Kristo Kärmann over his deliberate default on tax bills,…
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Three Arrows Capital falls into liquidation as crypto winter bites
Cryptocurrency-focused hedge fund Three Arrows Capital has gone bust, becoming one of the most prominent victims yet of the so-called…
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Celsius’ crypto faithful have a plan to avoid bankruptcy
An internal storm is brewing at crypto lender Celsius over its potential plans to file for bankruptcy, with some involved in…
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The Fintech Files: Will Celsius customers hit HODL?
Customers of the beleaguered crypto lender Celsius have had withdrawals frozen for more than two weeks – now, some involved in…
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Joust founder launches fintech with a twist on credit building
Lamine Zarrad’s experience as a refugee from Baku, Azerbaijan, inspired him to start the fintech he launched Tuesday called StellarFi.…
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FTX boss Sam Bankman-Fried dismisses reports of Robinhood acquisition
Sam Bankman-Fried, chief executive at crypto exchange FTX, said the company is not having any active mergers and acquisitions conversations…
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Crypto lobbyist donated £500k to Conservatives before UK’s ‘crypto hub’ move
The Conservative Party received a £500,000 donation from a British crypto investor two months before the government pledged to make…
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Treasury response to regulatory proposals for the buy now pay sector — here’s what you need to know
Simon Lovegrove, global director of financial services knowledge, innovation and product; Matthew Gregory is counsel at Norton Rose Fulbright LLP The…
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Three Arrows hedge fund has defaulted on $675m crypto loan, broker Voyager Digital says
Crypto broker Voyager Digital said that hedge fund Three Arrows Capital had defaulted, failing to make loan payments tied to large bets in…
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Banks would be wise to pivot now from a position of strength
The banking system for the past decade has sidestepped the sorts of crippling crises that used to be commonplace. In…
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U.K. investigates Wise CEO Kaarmann after tax breach
The fintech Wise said the Financial Conduct Authority has commenced an investigation into Chief Executive Kristo Kaarmann almost a year…
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Why hedge funds are shorting tether
Short sellers have been ramping up their bets against tether, the world’s largest stablecoin, amid a broad market selloff that…
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Hackers steal $100m in cryptocurrency
Hackers have stolen roughly $100m in cryptocurrency from a blockchain bridge, technology company Harmony said 23 June. Harmony, which hosts the Horizon…
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The Fintech Files: BoE steps in on stablecoins, while Lord Agnew and Starling spat
The implosion of the stablecoin TerraUSD and its paired cryptocurrency luna sent shockwaves through financial markets – and turned some…
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Klarna seeks fresh funds to keep up with regulatory capital requirements
Few private companies benefited more during the pandemic than Klarna Bank. Consumers flocked to the speciality lender, which lets shoppers…
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‘The world is going to embedded fintech’: Former Bank Leumi CEO
A ransomware attack led Rakefet Russak-Aminoach, who was president and CEO of Bank Leumi for seven years, into fintech. In…
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Cristiano Ronaldo kicks off crypto partnership with Binance in multi-year NFT deal
Cristiano Ronaldo has become the latest sports star to dip his toes into the world of cryptocurrency despite the crisis…
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Want to short bitcoin in the US? There’s now an ETF for that
Investors in the US can now cash in on tumbling bitcoin prices by betting against the embattled cryptocurrency using a new…
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Boards rush to fill crypto knowledge gap despite crash: ‘Ignore at your peril’
The long-awaited crypto winter may be in full swing, but boardrooms are in back-to-school mode when it comes to cryptocurrencies…
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Three Arrows Capital behind on $666m loan, crypto broker Voyager Digital says
Crypto broker Voyager Digital said it may issue a notice of default to Three Arrows Capital if the crypto hedge fund fails…
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Warning signs emerge for neobanks: ‘Doomed to not survive’
Ominous signs have been appearing for challenger banks. A recent study by consulting firm Simon Kucher found that of the…
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Sam Bankman-Fried’s FTX rolls out $250m credit line to BlockFi
BlockFi co-founder and chief executive Zac Prince said via Twitter on 21 June that the companies had signed a term sheet,…
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Automation turns around Washington credit union’s loan program
America’s Credit Union’s decision to automate its direct lending system has paid off dramatically — the lender went from $1.97 million…
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Fintechs and banks seek to perfect their pitches in plain English
Banks could take a page from Southwest Airlines when it comes to modeling their language and disclosures in a friendly…
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Why the crypto winter could be a Lehman moment
When a traditional bank fails, a SWAT team of regulators swoops in, winding it down in secret and preventing a…
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Deutsche Borse strikes crypto deal in search for ‘high-quality’ data
Deutsche Borse is partnering with digital assets data provider Kaiko to extend its data offering to the crypto space. The…
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Crypto CEOs told to display ‘a little humility’ as crash claims more than a thousand jobs
Charley Cooper, former chief operating officer at the US Commodity Futures Trading Commission, has a warning for crypto bosses as…
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Why crypto lender Celsius needs more time before it can resume business as usual
Celsius Network, the crypto lender that suspended customer withdrawals last week following the wide selloff in digital assets, warns it…
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How a former Adidas exec is transforming BECU
Fumbi Chima, BECU’s executive vice president and chief information officer, is helming a multi-year project to modernize the credit union’s…
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Crypto hedge fund Three Arrows mulls bailout as market sell-off batters investors
Cryptocurrency-focused hedge fund Three Arrows Capital Ltd. has hired legal and financial advisers to help work out a solution for…
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Crypto firms are under pressure as bitcoin and ethereum fall further
Cryptocurrencies continued declining on 17 June, two days after the Federal Reserve stepped up the pace of interest-rate increases. Bitcoin,…
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Crypto lender Celsius unlikely to get further investor funds for bail out
Investors in Celsius Network are unlikely to provide more financing to bail out the struggling cryptocurrency lender, said people with…
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BitMEX co-founder sentenced to probation over money-laundering violations
Benjamin Delo, a co-founder of cryptocurrency derivatives exchange BitMEX, was sentenced to 30 months probation for violating US anti-money-laundering law.…
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