Fintech: Page 2


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    Alex Wong via Getty Images

    SEC, DOJ probe FTX as Binance backs out of acquisition

    Regulator investigations have been going on for months but came to light amid Binance’s now-canceled bid to purchase the exchange.

    By Nov. 10, 2022
  • Renaud Laplanche, CEO and co-founder of Upgrade
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    Permission granted by Upgrade

    How Upgrade became a ‘marketing engine’ for deposit-hungry banks

    The neobank is leveraging its network of more than 200 community banks and credit unions to offer users one of the industry’s highest savings rates.

    By Nov. 9, 2022
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    designer491 via Getty Images

    Banks create guide to manage fintech due diligence

    The framework isn’t meant to replace existing regulatory guidance, but rather help banks better implement it, said Alloy Labs Alliance CEO Jason Henrichs.

    By Nov. 9, 2022
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    Steve Jennings via Getty Images

    Brex co-CEO: Fintech took ‘reputation hit’ after dropping customers

    Co-CEO and co-founder Henrique Dubugras said he regrets how the company handled its refocus on larger startups. Ultimately, though, the shift cost Brex just 2% of its total revenue from all businesses.

    By Caitlin Mullen • Nov. 9, 2022
  • founder of ftx sam bankman-fried
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    Craig Barritt via Getty Images

    Binance to acquire rival FTX amid ‘liquidity crunch’

    FTX founder Sam Bankman-Fried announced the deal two days after Binance CEO Changpeng Zhao said he’d dump his holdings of FTX native coin FTT.

    By Nov. 8, 2022
  • goldman sachs headquarters
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    Mario Tama via Getty Images

    Goldman launches digital asset classification system

    Datonomy is intended to help institutional investors make sense of the new asset class.

    By Nov. 4, 2022
  • Digital bank Chime cuts 12% of workforce

    Chime co-founder and CEO Chris Britt said the move would allow the company to flourish “regardless of market conditions," according to an internal memo.

    By Nov. 2, 2022
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    Gabrielle Saulsbery/Banking Dive

    Here’s what Brett Harrison expects in the crypto market

    The "decade of free money" is ending, but the future is bright, said the former president of FTX US. 

    By Oct. 27, 2022
  • Warren wants regulators to answer for crypto ‘revolving door’

    Five Democrats wrote the SEC, CFTC, CFPB, OCC, FDIC, Fed and Treasury to see how the agencies’ policies keep employees who jump to crypto lobbying roles from exerting undue influence.

    By Oct. 27, 2022
  • marqeta bill pay fintech
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    Permission granted by MARQETA

    Marqeta launches demand deposit accounts in banking push

    The company's suite of seven banking products includes early wage access, bill pay and instant funding. The latter two will be available in beta next year.

    By Oct. 25, 2022
  • Exterior of the Federal Reserve building in Washington, D.C.
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    Anna Hrushka/Banking Dive

    Fed disputes allegations of favoritism over BNY Mellon crypto move

    The central bank asserts Custodia’s complaint ignores "substantial differences" between the two banks’ business models.

    By Oct. 21, 2022
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    Michael Nagle via Getty Images

    JPMorgan taps ex-Celsius exec for crypto legal post

    The bank appears to be expanding its digital assets legal team despite CEO Jamie Dimon’s well-known skepticism. Aaron Iovine began the year at Cross River Bank before an eight-month stint at Celsius.

    By Oct. 19, 2022
  • founder of ftx sam bankman-fried
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    Craig Barritt via Getty Images

    Texas securities regulators investigate FTX, Sam Bankman-Fried

    FTX shouldn't be allowed to buy Voyager's digital assets while the regulator is looking into whether the company is illegally offering interest-bearing accounts, an enforcement official asserted.

    By Oct. 18, 2022
  • Plant sprouting out of dollar bills
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    Newbird via Getty Images

    Climate-conscious neobank Aspiration names new CEO

    The leadership transition comes a year after the company announced plans to go public through a merger with special-purpose acquisition company InterPrivate III Financial Partners Inc.

    By Oct. 18, 2022
  • Cryptocurrency tokens lying next to a gavel
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    Just_Super via Getty Images

    Custodia Bank accuses Fed of favoritism toward BNY Mellon

    The Wyoming-based bank said the Fed’s warning last week on crypto is counter to allowing BNY Mellon to hold and transfer digital assets.

    By Oct. 13, 2022
  • Michael Barr
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    Tasos Katopodis via Getty Images
    Column

    4 takeaways from Michael Barr’s DC Fintech Week speech

    The Federal Reserve’s vice chair for supervision stressed caution with banks’ ties to crypto and spotlighted what sets stablecoins apart from other digital assets.

    By Oct. 13, 2022
  • Charli D'Amelio holds a Step card.
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    Permission granted by Step

    Gen Z neobank Step launches crypto investing, rewards

    The fintech, which claims to have more than 3 million customer accounts, said it is partnering with digital assets infrastructure and regulatory platform Zero Hash to offer transaction and custody services.

    By Oct. 12, 2022
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    Dan Kitwood via Getty Images

    Crypto exchange Bittrex to pay $29M to settle AML, sanctions charges

    The exchange failed to file any suspicious activity reports for more than three years and allowed customers in Syria, Sudan, Iran, Cuba and the Crimea to make tens of thousands of transactions, two Treasury offices said Tuesday.

    By Oct. 12, 2022
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    Mario Tama / Staff via Getty Images

    BNY Mellon set to take clients’ crypto

    The move comes more than a year and a half after the bank laid out its intention to hold, transfer and issue digital assets. It received NYDFS approval within the past month.

    By Oct. 11, 2022
  • OCC Acting Comptroller Michael Hsu testifies in front of the Senate Banking Committee on Aug. 3, 2021
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    Retrieved from Senate Banking Committee.

    OCC wants more data on banks’ crypto-related activities

    Banks are already required to seek the OCC’s non-objection before engaging in crypto activity. But further enhancements may be needed “to track the risk of cross-contagion,” Acting Comptroller Michael Hsu said.

    By Oct. 11, 2022
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    Dan Kitwood via Getty Images

    Celsius co-founder Leon follows Mashinsky out

    The crypto lending firm’s chief strategy officer, Shlomi Daniel Leon, has left the company, shortly after fellow co-founder Alex Mashinsky, joining a growing list of recently departed crypto executives.

    By Oct. 5, 2022
  • Stash
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    Courtesy Stash

    Inside Stash’s crypto-winter gamble

    The investment app expands access to digital assets, spotlighting a long-term view of the currencies, in the platform's first offering on a new core system.

    By Oct. 5, 2022
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    Dan Kitwood / Staff via Getty Images

    Crypto bank Anchorage pushes into Asia

    Anchorage Digital, valued over $3 billion, established six partnerships across Asia, including in Singapore and Thailand.

    By Oct. 5, 2022
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    Chip Somodevilla via Getty Images

    FSOC wants legislation to fill crypto sector oversight gaps

    The panel wants regulators to work in tandem to issue rules that would help prevent regulatory arbitrage in the sector.

    By Oct. 4, 2022
  • the exterior of the federal reserve building in washington, dc
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    crbellette via Getty Images

    Digital banks, credit unions should factor into merger reviews: Fed’s Bowman

    Potential combinations should hinge on risk analysis, not deposit market share, in an update to 1995 guidelines, the central bank governor said Wednesday.

    By Sept. 29, 2022