Category: FinTech
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Binance cancels FTX takeover
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The takeover of struggling crypto exchange FTX.com by rival Binance (PR42 profile) has fallen through. “We have decided not to pursue the potential acquisition,” Binance announced on Twitter. The reason, it said, was media reports of misconduct in the handling of customer funds and alleged investigations by U.S. authorities. Actually,…
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Unit21 Launches FinTech Fraud DAO To Combat Cybercrime!
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Unit21 and other U.S. consumer fintech community members have joined forces to launch the Fintech Fraud Decentralized Autonomous Organization (DAO). Participating fintechs include Brex, Chime, PrimeTrust, Yotta and Airbase. This decentralized network uses a collaborative approach to data sharing to detect and combat fraud. The DAO is expected to process…
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FinTech Startup Splint Invest Secures 500,000 Swiss Francs On “The Lion’s Den!”
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The Zug-based FinTech startup Splint Invest secured an investment of CHF 500,000 in the Swiss edition of the TV pitching format “The Lion’s Den.” With the app of the same name, the team around Solothurn-based founders Mario von Bergen, Robin Muster and Aurelio Perucca make it possible to diversify one’s…
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Mastercard Acquires Stake Of FinTech Treezor
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Fintech Treezor (PR42 profile) has gained a new investor in Mastercard.Mastercard is investing in its partnership with Treezor, the fintech subsidiary of bank Société Générale. Treezor was acquired by Société Générale in 2019. The credit card company acquired a minority stake in the fintech from the French institution, Mastercard announced…
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Tech Winter: Facebook Parent Meta Lays Off 11,000 Employees
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Facebook’s Meta Group is laying off more than 11,000 employees in the largest job cuts in its history. That is about 13 percent of the workforce, CEO Mark Zuckerberg announced on Wednesday. Zuckerberg noted that he had overestimated the online boom at the beginning of the corona pandemic and had…
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Former Tink Employees Launched FinTech Atlar And Raised Five Million Euros!
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The new fintech startup Atlar, founded by three former Tink employees, Joel Nordström, Joel Wägmark and Johannes Elgh, is launching. Atlar allows businesses to communicate directly with banks via a novel layer to seamlessly and automatically initiate and reconcile payments.
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Former Mollie Manager Brings U.S. FinTech Capchase To Germany!
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The Spanish-American revenue-based capital provider Capchase (website) is coming to Germany. Frank Bertele, who was previously active in the same role at Mollie, will be responsible for the expansion. The business model of a revenue-based form of financing seems attractive.
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The Ripple Crypto Case: Why The SEC Can’t Win!
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The U.S. Securities and Exchange Commission (SEC) does not have good cards to win in court with its charges against Ripple. At least, this is the opinion of attorney Jeremy Hogan, who has been watching the process from the beginning and regularly assesses how the proceedings are going.
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Gate.io Is Introducing Their Crypto Payment Product Gate Pay
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The crypto-exchange platform Gate.io (PR42 profile) has officially launched Gate Pay, a leading crypto-based payment product. The launch of Gate Pay is based on Gate.io executives’ belief that cryptocurrencies can become a widely used means of payment, not just a tradable asset. Gate Pay is a free-to-use crypto payment technology developed…
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After The Billion Exit Scam: Founder Of Thodex Arrested!
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Aruk Fatih Özer, founder and CEO of Turkish cryptocurrency exchange Thodex, which was shut down last year, has been arrested in the Albanian coastal city of Vlora. The Turkish interior minister announced on Tuesday. Özer, 28, is accused of disappearing with his customers’ money more than a year ago. Around…