Technology


  • sam bankman-fried
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    FTX ex-CEO says he ‘unknowingly commingled funds’

    In his first public appearance since his former company's collapse, Sam Bankman-Fried said he doesn’t think he has criminal liability, but what happens with him is “not the important part.”

    By Dec. 1, 2022
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    Kraken cuts workforce by 1,100 people

    Thousands of crypto jobs have vanished in 2022 as a result of the ongoing crypto winter, and the Kraken team is back to the size it was a year ago.

    By Nov. 30, 2022
  • Trendline

    Fraud and AML in banking

    Peer-to-peer payments, crypto platforms, ESG investment vehicles and COVID-era relief programs continue to be sources of fraud-related frustration.

    By Banking Dive staff
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    Novo grows customizable small-business banking platform, eyes lending

    The fintech, which raised $35 million from GGV Capital last week, announced a new partnership Wednesday with LegalZoom to provide entity formation services to Novo customers.

    By Nov. 30, 2022
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    Just_Super via Getty Images

    BlockFi sues Bankman-Fried’s holding company

    The lawsuit, to recover shares in Robinhood, came the same day BlockFi filed for Chapter 11 bankruptcy protection, in part because of its exposure to FTX, which Bankman-Fried founded.

    By Nov. 29, 2022
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    Chip Somodevilla via Getty Images

    Kraken settles with Treasury Department for $362K

    The platform avoided the maximum penalty of $272 million because it self-reported, the Office of Foreign Assets Control said.

    By Nov. 29, 2022
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    sefa ozel via Getty Images

    Regulatory challenges more prominent in eyes of fintech industry leaders this year

    Private firms are adopting a more defensive posture, delaying new funding rounds, planning for modest growth and addressing regulatory risks, according to a report.

    By Nov. 28, 2022
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    BlockFi files for bankruptcy amid FTX contagion

    The crypto lender has initiated a cost-cutting plan that involves “major layoffs,” according to Decrypt. Monday’s announcement follows earlier rumors that the company had been mulling bankruptcy.

    By Nov. 28, 2022
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    State regulators probe Genesis for securities violations

    Regulators are investigating whether the company influenced residents to invest in crypto securities through its platform without having the right registrations, an Alabama official said.

    By Nov. 28, 2022
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    Sponsored by ServiceNow

    Why banks need hyperautomation now more than ever

    Worries about recession, the need to drive cost down and a desire to accelerate risk initiatives has many banks thinking hard about how to seize the benefits of hyperautomation quickly and efficiently.

    Nov. 28, 2022
  • Bobby Matson, CEO of Payitoff
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    Q&A

    Payitoff CEO, spouse became ‘walking testimonial’ for student debt management

    “If I'm in a bank, I would want to learn everything I could from these fintechs, whether it's partnering with them, buying them ... because everything's on discount,” CEO Bobby Matson said.

    By Nov. 23, 2022
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    Spencer Platt via Getty Images

    JPMorgan’s crypto wallet trademark is approved

    The green light comes more than two years after the bank submitted paperwork to the U.S. Patent and Trademark Office, and runs counter to CEO Jamie Dimon’s opinion on virtual currencies.

    By Nov. 22, 2022
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    Neobank GloriFi shuts down following turbulent launch

    The Dallas-based fintech attributed the shutdown to “startup mistakes, reputation attacks, the declining economy, and multiple negative media stories.”  

    By Nov. 22, 2022
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    FTX owes more than $3 billion to its top 50 creditors

    The bankrupt crypto exchange has launched a strategic review of global assets to prepare for the sale or reorganization of some businesses.

    By Nov. 21, 2022
  • Mergers and acquisitions
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    BM Technologies’ acquisition of Seattle community bank pushed to 2023

    The deal would, over time, create a $2 billion-plus institution, and regulators want more details on the infrastructure that would support that growth, CEO Luvleen Sidhu said.

    By Nov. 21, 2022
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    Column

    Can Congress come together on crypto?

    Perhaps even a divided Congress can make bipartisan headway in crafting a regulatory framework for crypto following FTX’s failure.

    By Lynne Marek • Nov. 18, 2022
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    Jack Taylor / Stringer via Getty Images

    New FTX CEO blasts ‘complete failure of corporate controls’ under Bankman-Fried

    CEO John Ray didn’t mince words in discussing mismanagement of the crypto exchange by its founder and others.

    By Nov. 17, 2022
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    BankProv braces for $27.5M hit on bad crypto mining loans

    The Massachusetts-based bank said it has delayed the release of its financial statements for the most recent quarter, adding that losses could exceed the $27.5 million estimate.

    By Nov. 17, 2022
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    Climate First Bancorp acquires ESG data fintech Ecountabl

    Ecountabl founders Andy Burr and Justin Bretting now serve as chief growth officer and chief technology officer, respectively, at Climate First’s OneEthos digital banking fintech.

    By Nov. 16, 2022
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    Mario Tama via Getty Images

    NY Fed, banks launch new 12-week CBDC project

    Citi, Wells Fargo, BNY Mellon, U.S. Bank, PNC Bank, TD Bank, Truist, HSBC and Mastercard are set to participate in the proof-of-concept trial.

    By Nov. 16, 2022
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    Regulators defend their caution on crypto in Senate panel hearing

    Some GOP lawmakers blasted a dearth of guidance from the OCC, Fed and FDIC, and one suggested it's up to Congress to establish the rules.

    By Nov. 16, 2022
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    Daphne Howland/Banking Dive
    Deep Dive

    How deep of a banking threat is Walmart’s One?

    The retailer has scale, brand recognition and a pedigree in an ex-Marcus CEO. The proof may come when the company turns its beta test loose on customers.

    By Nov. 16, 2022
  • Cryptocurrency tokens lying next to a gavel
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    Just_Super via Getty Images

    BlockFi teeters on bankruptcy as Gemini, Genesis units halt redemptions: reports

    The dominos from FTX’s collapse are knocking down players across the crypto industry, with some companies pausing withdrawals and a group of U.S. investors suing FTX's former CEO.

    By Nov. 16, 2022
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    Alex Wong via Getty Images

    FTX may have more than 1 million creditors

    New CEO John Ray has appointed a new slate of directors at each of the main companies within FTX to guide them through Chapter 11, including a former federal judge.

    By Nov. 15, 2022
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    Anna Hrushka/Banking Dive

    Custodia Bank’s master account lawsuit against Fed advances

    Custodia’s claim that its master account application has been “unreasonably delayed” by the regulator holds water, a U.S. district court judge ruled Friday.

    By Nov. 15, 2022
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    Jack Taylor / Stringer via Getty Images

    Bahamas law enforcement investigating FTX

    The crypto exchange has faced a multimillion-dollar hack since filing for bankruptcy Friday.

    By Nov. 14, 2022