Bittrex settles with SEC for $24M

The bankrupt crypto exchange, its former CEO, and Bittrex’s foreign affiliate paid to settle charges, without admission of guilt, of operating an unregistered national securities exchange.

By Gabrielle Saulsbery • Aug. 11, 2023

New Fed unit to supervise crypto, nonbank partnerships

The central bank clarified that any state bank it supervises must get the regulator’s green light before issuing, holding or transacting in dollar tokens, such as stablecoins, to facilitate payments.

By Anna Hrushka • Aug. 9, 2023

Explore the Trendline➔

Bank and fintech partnerships

A partnership can be a broad hand-up from a giant bank, a targeted effort to fix a societal issue, or a strategic miscalculation.

By Banking Dive staff

Coinbase asks judge to dismiss SEC suit

Citing a separate ruling involving Ripple, Coinbase's chief legal officer said the SEC “has trampled the strict boundaries on its basic authority."

By Dan Ennis • Aug. 4, 2023

Banks look beyond mobile-platform adoption, aim to boost UX

Curbing dropoff rates and optimizing user experience flow is a higher priority than incorporating as many bells and whistles as possible, executives said.

By Suman Bhattacharyya • Aug. 4, 2023

Figure withdraws bank charter application

The blockchain startup applied for a charter in 2020, then included plans to seek deposit insurance after the Conference of State Bank Supervisors sued.

By Gabrielle Saulsbery • Aug. 2, 2023

State Street’s global head of digital custody is leaving

“Sometimes the want for a little time off turns into a need for a bigger change,” Swen Werner said in a LinkedIn post. Werner is at least the second digital-focused exec to leave State Street this year.

By Dan Ennis • Aug. 2, 2023

[Podcast] Igniting organic growth and driving customer value in banking

This podcast explains how leading banks utilize data to enhance customer understanding and drive organic growth. Discover valuable insights from EY Global's research on consumer preferences and learn from the strategies of Bank of America and Citizens Financial Group.

By Banking Dive's studioID • July 31, 2023

Alternative payment methods – a proven payments imperative

To stave off competition and satisfy customer demand, payment providers need to act now on their alternative payment methods strategy.

July 31, 2023

BNP Paribas may be next to settle WhatsApp probes by SEC, CFTC

The French bank has reached "proposed resolutions" with the regulators. And it disclosed that it set aside €125 million for litigation. But the bank declined to say whether the two moves were related.

By Dan Ennis • July 28, 2023

Wyoming looks to hire stablecoin chief

The role comes with a paycheck $10,000 higher than that of Gov. Mark Gordon, who allowed the stablecoin bill to pass without his signature in March.

By Gabrielle Saulsbery • July 27, 2023

Fintech trade group grows educational arm

The American Fintech Council is partnering with professional services firm FORVIS to offer compliance and training opportunities aimed at improving the fintech ecosystem, AFC CEO Phil Goldfeder said.

By Gabrielle Saulsbery • July 26, 2023

Binance seeks dismissal of CFTC suit

A Monday court document shows Binance's intention to shut down a CFTC suit claiming it violated certain regulations.

By Gabrielle Saulsbery • July 25, 2023

6 ways FedNow may affect businesses’ cash flow

CFOs may need to lean on their banks for guidance to help them understand the implications of the new real-time payments system.

By Suman Bhattacharyya • July 24, 2023

FTX sues Bankman-Fried, former execs for more than $1B

The company accused its former CEO and three ex-executives of misappropriating funds to buy luxury condominiums and make speculative investments and political contributions.

By Gabrielle Saulsbery • July 21, 2023

Clair CEO welcomes on-demand pay regulation

Clair CEO Nico Simko weighed in on whether EWA is a payday loan and how the company offers fee-free wage access.

By James Pothen • July 20, 2023

FedNow goes live for banks, credit unions

The Fed’s long-awaited instant payments system stands to give consumers and businesses a new route for speedier transactions.

By Lynne Marek • July 20, 2023

Barr acknowledges AI’s promise but warns of bias risk

The red flag is one of five takeaways from a speech Tuesday in which the regulator also touched on the status of the multiagency CRA revamp.

By Dan Ennis • July 18, 2023

CFPB, European regulator open a dialogue on digital rules

Buy now, pay later platforms, artificial intelligence and other developments “if left unchecked, could increase consumers’ exposure to fraud and manipulation,” the regulators said Monday.

By Rajashree Chakravarty • July 18, 2023

Gensler sees companies with AI gaining clout over consumers

The SEC chief warned that the handful of companies leading AI innovation may come to dominate the market.

By Jim Tyson • July 17, 2023

Binance lays off at least 1,000: reports

The company told employees last month that it would stop offering certain benefits, according to The Wall Street Journal. CEO Changpeng Zhao said there could be additional layoffs every three to six months.

By Gabrielle Saulsbery • July 17, 2023

How do you reduce your IT costs?

In this blog, we’ll provide three tips on reducing your IT costs: how to identify the right devices to upgrade, the importance of IT budgeting and an IT cost reduction checklist.

By Jackson Connell • July 17, 2023

Ripple, SEC each get a partial win in XRP ruling

The crypto firm’s token is a security when it’s sold to institutional investors but not to the general public, a judge ruled Thursday, adding that a jury must decide whether Ripple execs helped the company violate the law.

By Dan Ennis • July 14, 2023

Apple debuts recurring payments

The tech giant, now valued at $3 trillion, is continuing to expand its financial offerings after debuting a buy now, pay later feature and a savings account earlier this year.

By James Pothen • July 14, 2023

Celsius ex-CEO charged with fraud as FTC reaches $4.7B settlement

Prosecutors allege Alex Mashinsky misrepresented the crypto exchange's safety, profitability and risk appetite. Celsius' chief risk officer also was arrested, and three federal agencies filed lawsuits.

By Dan Ennis • July 13, 2023

Jenius Bank debuts personal loan product

The launch of a consumer loan product is “phase 1” of Jenius’ strategy to grab a chunk of the U.S. digital banking market, CEO John Rosenfeld said.

By Anna Hrushka • July 13, 2023