Yesterday, the SEC announced that it is suing Kraken for operating as an unregistered securities exchange. This follows similar actions in June against the two largest crypto exchanges, Coinbase and Binance.
Nium, a real-time payments infrastructure company, has closed its $50 million Series E at a $1.4 billion valuation. That is 30% below the valuation from its last funding round in 2022.
The fintech space, and the tech space more broadly, is enamored with company valuations. The term unicorn arose out of that fascination.
Visa is hosting its annual Visa Payments Forum in San Francisco this week, and yesterday, there were some major announcements. Some are calling this the biggest thing in card payments since the card chip.
Caitlin Long, the CEO and founder of Custodia Bank, has been fighting for access to the Fed payments system for many years. Custodia first applied for a Fed master account in October 2020.
After her application was endlessly delayed, she sued the Fed to review her application. They eventually did and ruled against her. So, she sued the Federal Reserve again.
The SEC has not had a great track record in court cases against crypto firms in the last few months. And another important case is playing out right now in a New York federal courtroom.
Back in June of last year the SEC sued Coinbase arguing that it was operating illegally and that it should register as an exchange and be overseen by the SEC.
The OpenAI story was eclipsed yesterday by monumental news in the world of crypto. The world's largest crypto exchange, Binance, has agreed to pay $4.3 billion in fines to the U.S. government for violating anti-money-laundering requirements.
The New York Community Bank saga has occupied the headlines for much of the past month. But the bank may finally be seeing light at the end of the tunnel.
Yesterday, NYCB received a $1 billion infusion of capital from a group that included former Treasury Secretary Steve Mnuchin and former OCC head Joseph Otting.
Stripe has, for some time, been one of the leading fintech companies globally when it comes to scale.
But the numbers it revealed today in its annual letter are truly staggering. It processed $1 trillion, around 1% of global GDP, through its platform in 2023. It crossed that milestone just 15 years after it was founded.
Yesterday, the official legislation was issued to make the long-awaited adjustment to the CRA, accounting for the digital landscape.