US-based Fireblocks has raised US$550 million in Series E funding, vaulting its valuation to over US$8 billion.
Tencent has reported plans in a white paper for the development of a blockchain platform; the firm says it plans to use the platform for offering digital asset management, authentication and shared economies, among other services; the firm also says the platform will help it to collaborate with other firms; in its white paper, Tencent also advocates for blockchain development and government integration in China. Source
Bloomberg reports on Goldman Sachs’ new San Francisco office culture which has no dress code and offers kombucha in the break room; Jeff Winner was hired this year to run the office which aims to employ 80 people; Winner leads the engineering team behind their successful consumer brand Marcus; with their new office location they will compete for talent from names like Google and Amazon. Source
According to the 2020 Mobile Deposit Benchmark Report by Cornerstone Advisors JPMorgan Chase ranked as the best experience; 54 percent...
Much has been written about the innovations in consumer banking and how fintech has changed the retail banking landscape dramatically...
Fed Lacks Ammo; Varo Wins Race for Charter; Visa Enters POS CIT revamps B2B point-of-sale lending platform SoftBank to invest...
The new platform gives startups free access to the suite of security options: what would typically amount to hundreds of thousands of hours of in-house compliance work.
Shareholders of PayPal have sued firm directors implying that management falsified statements in quarterly reporting related to Venmo; as a subsidiary of PayPal, Venmo's business activities influence the overall results of the firm; in 2016 Venmo was investigated for unfair and deceptive practices resulting in a fine and ongoing investigations with the FTC; shareholders are arguing that PayPal did not properly disclose and inform shareholders of the implications of the investigations which led to shareholder losses of approximately 15%. Source
LexinFintech Holdings operates Fenqile, a leading online lender in China, and is now rethinking their IPO plans; LexinFintech is attempting to raise $500mn through their IPO but concerns about regulators in China have made the company have second thoughts; the company is planning to come to a decision soon on whether or not to plan their roadshow ahead of the IPO. Source.
Mark Cuban and Jill Castilla, CEO of Citizens Bank of Endmond, made news soon after the crisis started when they...