Tag: Fintech
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Ukrainian Aid Money May Be Gone In Bankruptcy Of Crypto Exchange FTX!
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In March, the Ukrainian government under Volodymyr Selenskyj proudly presented a new way of increasing donations: The crypto exchange FTX was supposed to make more out of 100 million – now FTX is bankrupt. The suspicion: vast sums of aid money are gone.
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SEC Fines Koppers $1.3 Million!
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The Securities and Exchange Commission (SEC) has settled a lawsuit against Koppers Holdings for failing to disclose material information related to two non-GAAP financial measures the company highlighted in connection with its debt reduction efforts. The Commission’s order states that Koppers failed to disclose that it achieved its debt reduction…
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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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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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Dubai International Financial Centre Hosts A Global FinTech Summit!
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His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the United Arab Emirates and President of DIFC, has announced the launch of the Dubai FinTech Summit. The international event will bring together more than 5,000 experts, thought…
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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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Russian FinTech CEOs Renounced Their Russian Citizenship!
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Vladimir Putin will definitely not like it. Revolut CEO Nikolay Storonsky and Tinkoff founder Oleg Tinkov are two prominent financial entrepreneurs who have renounced their Russian citizenship. They criticize Putin’s war course in no uncertain terms.
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Fintech Startup Neon Raises 11 Million Francs!
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Swiss neobank Neon has raised 11 million Swiss francs in a financing round. The company says a capital increase of 2.5 million Swiss francs by institutional investors had already taken place in September. In addition, another 8.6 million Swiss francs have now been crowdfunded from the user community.
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Fintech N26 Changed Legal Form Into A Joint Stock Company!
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Neobank N26, legally organized as a GmbH (limited liability company), will be transformed into an AG (joint stock corporation). Accordingly, a supervisory board will be established. Being a joint stock company, the prerequisites would be created to be able to transform it into a European company (Societas Europaea, SE) in…
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U.S. FinTech Company Stripe Is Laying Off 14% Of Its Workforce!
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U.S. fintech giant Stripe has announced it is laying off 14% of its workforce in what it calls the “most severe change” for the company. The move would mean that about 1,120 of the fintech company’s 8,000 employees will be laid off. Stripe CEO Patrick Collison announced Thursday in a memo, saying…