Insolvent Teen FinTech Ruuky Finds A Buyer After All!

At the beginning of January, the Hamburg-based fintech Ruuky filed for insolvency. At the last minute, a buyer for the startup has been found. A press release said that a strategic investor wants to continue and expand the fintech, which has developed a banking app for young people.

Regulators Fight Against The Sudden Death Of Startup-Friendly Banks!

It was a blow to the heart of the startup industry wit the potential to destroy thousands of startups and hundreds of VC funds: The sudden death of Silicon Valley Bank (SVB) and Signature Bank has sent shockwaves through the startup industry not just in the U.S., but around the world. Regulators in the U.S. and UK took action to prevent a super-GAU.

North Channel Bank Insolvency: BaFin Establishes Compensation Case!

Germany's Federal Financial Supervisory Authority (BaFin) has established the compensation case for the clients of collapsed North Channel Bank. The bank is not able to repay its customers' deposits in full. The deposits of North Channel Bank's customers are protected under the Deposit Protection Act. The Bank is a member of the Entschädigungseinrichtung deutscher Banken GmbH (EdB).

Millions Of Likes Didn’t Help: Teen FinTech Ruuky Files For Bankruptcy!

Banking for the Tiktok generation - that's how the founders of Ruuky hoped to find a place next to N26. But now the fintech is facing bankruptcy despite its 250,000 users and more than 230.000 TitTok followers. Through the insolvency proceedings, the company now wants to preserve the jobs of the 20-member team and obtain further financing, the fintech says.

New York Charges Celsius Network Founder Mashinsky With Crypto Fraud!

The New York Attorney General Letitia James filed charges against Celsius Network founder Alex Mashinsky, alleging that he defrauded investors out of billions of dollars in digital currency by hiding the weak health of his now-bankrupt cryptocurrency lending platform. Mashinsky continued to promote Celsius as a safe alternative to banks and paid up to 17% interest on deposits while hiding hundreds of millions of dollars in losses in risky investments, according to the lawsuit.

The Trail Of Wirecard Head Marsalek Is Lost In Putin’s Neighbourhood!

The most spectacular fraud in German economic history is the Wirecard bankruptcy. The main defendant is former CEO, Markus Braun. On the other hand, one of the prominent masterminds of the scandal, Jan Marsalek, is living comfortably in Russia.

Binance Digs Into Voyager Insolvency!

Binance offers about one billion dollars for the assets of the insolvent crypto lender Voyager Ditigal. However, the deal still needs court approval. Voyager will seek to return crypto to its customers in tokens. The Binance deal values Voyager's crypto portfolio at just over $1 billion. The deal still needs court approval, with a discussion of the issue set for 5 January 2023.

Pointing Finger: Binance Intentionally Caused FTX Collapse Says Mr. Wonderful, Kevin O’Leary!

Amid the bankruptcy proceedings, the Canadian celebrity entrepreneur and FTX investor star Kevin O'Leary sharply criticized crypto exchange Binance and its CEO Changpeng Zhao, a/k/a CZ, claiming they intentionally caused FTX's collapse. At a hearing of the Senate Banking, Housing and Urban Affairs Committee, the prominent businessman said Binance is now a "massive, unregulated monopoly."

The Arrest Of FTX Founder Sam Bankman-Fried May Make The Crypto World “Whole Again!”

For a long time, the Twitter community demanded the arrest of FTX founder Sam Bankman-Fried (SBF) after around a million customers had lost billions with the collapsed crypto exchange. Monday evening, he was now arrested by police in the Bahamas after U.S. prosecutors brought a still-sealed indictment. He is now apparently to be quickly extradited to the U.S. to answer questions from prosecutors there. The comprehensive investigation of the FTX Case is an important building stone to make the crypto world whole again.

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