Category: Crisis Mode
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Lawsuit: OpenAI Collected Medical Information And Data From Children!
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Millions of data were allegedly collected and used for training ChatGPT. CEO Sam Altman has to answer for it in court. OpenAI allegedly stole “large amounts of personal data” to train ChatGPT. Specifically, collecting medical data and information from children weighs heavily in court.
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Bitpanda Wants To Fight Low-Interest Rates With Bitpanda Cash Plus!
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The Vienna-basse cryto fintech Bitpanda is launching a new financial product. With it, Bitpanda wants to counteract Europe’s low-interest rate environment with its new product, “Bitpanda Cash Plus.” It intends to enable investors to earn returns on their money via money market funds.
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Stalled By The Investor For Months – Fintech Cure Finance Files For Insolvency!
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The Berlin-based fintech Cure Finance thought it had raised just under three million euros from an investor. That was at the beginning of this year. But the sum never arrived at the startup, as Finance Forward and Finanz-Szene report. The consequences are severe: the Berlin fintech is now forced to…
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SoftBank Vision Fund Records $32B Loss Due To Startups’ Valuation Decrease!
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SoftBank Vision Fund, the prominent global investor in tech startups, reported a significant loss of $32 billion for the financial year ending in March. This represents a 70% increase in casualties compared to the previous year.
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N26 Lets Go About 70 Employees To Achieve Profitability In 2024!
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In 2024, Berlin-based Neobank finally wants to be in the black. To achieve this ambitious goal, costs must be reduced. Therefore, the fintech company of Austrian founders Maximilian Tayenthal and Valentin Stalf announced today that about 70 employees would have to leave, corresponding to about 4% of the workforce.
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German Nextmarkets Sells Assets And Faces Liquidation!
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At the trading app nextmarkets, the sellout starts, followed by liquidation. Still, in 2021, the FinTech raised €30 million and had big plans. Investor FinLab refers to the “weakness in the financing market” concerning the planned end of nextmarkets.
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Insolvent Teen FinTech Ruuky Finds A Buyer After All!
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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.
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Not Profitable! Green German Fintech Tomorrow Terminates A Quarter Of Its Team!
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The economic crisis is hitting the fintech scene particularly hard and it’s not stopping at Hamburg-based startup Tomorrow. The green bank has decided to make drastic staff cuts and terminated a quarter of its workforce on its way to profitability.
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Crypto Lender BlockFi Is Insolvent
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Following the collapse of the cryptocurrency exchange FTX, the U.S. bank BlockFi, which specializes in virtual currency, has now also filed for bankruptcy. More broadly, the BlockFi business has been on a knife-edge since the spring, when the collapse of several major crypto companies sent the market into a panic…
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FBI Seeks Extradition Of Sam Bankman-Fried
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The Federal Bureau of Investigation (FBI) is demanding the extradition of Sam Bankman-Fried to the United States. Together with Bahamian authorities, the US Central Security Agency is discussing the possibility of bringing FTX founder Sam Bankman-Fried to the United States for questioning. This is reported by the Daily Mail, citing…