Category: FinTech
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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…
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BlockFi Facing Insolvency
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After the bankruptcy of FTX, BlockFi is also facing bankruptcy. Payouts were already stopped last week. The bankruptcy of crypto exchange FTX has sent shockwaves throughout the crypto industry and put many digital currencies under pressure. The industry is now concerned that other crypto exchanges could suffer the same fate.…
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Airbank Becomes Friday Finance
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Airbank” becomes “Friday Finance”: Similar to some other fintechs, the word “bank” disappears from the name. Most recently, Solaris deleted this addition from the company name, as did Railsr (formerly Railsbank) and Tuum (Modularbank). The re-branding is intended to illustrate the added value that the Friday Finance platform brings to…
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Fidor Bank Will Be Liquidated!
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Based on exclusive information from Finanz-Szene, Fidor Bank is to be liquidated by mid-2024. Six years after the takeover, the major French bank BPCE, which holds the shares in Fidor, is thus drawing a line under a years-long strategic adventure with accumulated losses in the mid-three-digit million range. Operationally, Fidor…
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PayTech Platform Ping Receives $15 Million!
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Ping, a global payment platform for freelancers and contractors, has received $15 million in a seed funding round. Investors participated in the round, including Y-Combinator, Race Capital, Signum Capital, Goat Capital, Danhua Capital, and BlockTower. The company claims it is now THE global solution for remote workers, contractors, and freelancers.
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Twitter Rumors Confirmed? Twitter Payments Registered As A Money Services Business
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Rumor has it that Musk wants to enrich Twitter with a payment function, transforming it into profitability. Elon Musk’s $44 billion takeover of Twitter has sent the global tech and media scene into a tizzy. Now it was revealed that Twitter indeed has registered with the U.S. FinCen as a…
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SME Financial Services Provider Finom Buys Cross-Border PayTech Company Kapaga!
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Finom, a fintech company that provides online financial services to small and medium-sized enterprises (SMEs), has acquired cross-border paytech company Kapaga in a deal worth at least £10 million. The merger will allow Finom to unify its separate paytech services for freelancers, SMEs, and corporate customers in the UK and…
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The Many Losers Of The FTX Collapse And Its Devastating Consequences!
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In the FTX crash, the crypto market has been in a state of shock. Celebrities such as the U.S. football star Tom Brady are among those affected. Slowly, the full extent of the FTX crash is becoming visible. Sam Bankman-Fried’s crypto exchange had signed big-name investors and promotional deals, including…
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French PayTech Startup Fintecture Receives €26 Million Series A Funding!
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Paris-based B2B payments platform Fintecture has received €26 million in a Series A funding round. New investors Eurazeo, RTP Global, HEC Ventures, and Allianz Trade participated in the funding round, as well as existing investors Target Global, Samaipata, and Societe Generale, and angel investors also participated.
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PayTech Cardstream Partners Pith Qi Digital To Empower Digital Currencies
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PayTech company Cardstream (PR42 profile) has partnered with cryptocurrency company Qi to make it simpler for merchants worldwide to accept digital currencies. Cardstream processes card payments globally and also offers emerging and local payment methods for some regions and consumers.