FinTech
Tencent-backed Airwallex nears $500 million annualized sales, aims to get IPO-ready by 2026
Airwallex, which was most recently valued at $5.5 billion and is backed by Tencent, has been tipped as one of many prominent fintech IPO candidates. Jose Sarmento | Bloomberg | Getty Images Tencent-backed payments startup Airwallex is nearing an annual revenue run rate of $500 million and will look to get ready for an initial […]
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Schumer says a crypto bill can pass Senate this year; key Dems join ‘Crypto4Harris’ call
US Senate Majority Leader Chuck Schumer presents US Vice President Kamala Harris with a “golden gavel” after she cast her 32nd tie-breaking vote in the Senate, the most ever cast by a Vice President, at the US Capitol in Washington, DC, December 5, 2023. Saul Loeb | AFP | Getty Images Senate Majority Leader Chuck […]
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Bitcoin plunged 28%. Institutional investors bought the dip
The crypto markets appear calm heading into the weekend after a volatile week that tested how institutional investors new to the crypto trade would react to the mammoth swings that are old hat for more seasoned digital currency investors. The selloff in bitcoin and ether began earlier this week and wiped out $367 billion in […]
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Banks face tough new security standards in the EU — their tech suppliers are under scrutiny, too
Traffic_analyzer | Digitalvision Vectors | Getty Images Financial services companies and their digital technology suppliers are under intense pressure to achieve compliance with strict new rules from the EU that require them to boost their cyber resilience. By the start of next year, financial services firms and their technology suppliers will have to make sure […]
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Crypto ETFs get first major test after $370 billion market sell-off
Omar Marques | Lightrocket | Getty Images Bitcoin and ether are gaining back ground after falling to their lowest level in six months on Monday in the first major test of the recently launched crypto exchange-traded funds. As of early Monday, roughly $370 billion dollars had been wiped off the market cap of all digital […]
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Bitcoin miner Core Scientific rides AI from bankruptcy to $6.7 billion partnership in eight months
In January, U.S. bitcoin miner Core Scientific was bankrupt and battling angry lenders. Since its return to the stock market that month, the share price is up 140% as the company aggressively goes after building a business in artificial intelligence. On Tuesday, the mining firm announced an expanded deal worth $6.7 billion with CoreWeave, an Nvidia-backed startup that’s one […]
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Crypto selloff wipes out $270 billion in value as bitcoin, ether plunge
Nurphoto | Nurphoto | Getty Images The cryptocurrency market plummeted in value on Sunday, as investors continued selling out of risky assets. Led by a drop of 11% in bitcoin in the past 24 hours and a 21% plunge in ether, the overall value of cryptocurrencies sank by about $270 billion, according to CoinGecko data. […]
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Morgan Stanley tells wealth advisors they can pitch bitcoin ETFs in a first for a big bank
Key Points Morgan Stanley on Friday told its army of financial advisors that it will soon allow them to offer bitcoin ETFs to some clients, a first among major Wall Street banks, CNBC has learned. The firm’s 15,000 or so financial advisors can solicit eligible clients to purchase shares of two exchange-traded bitcoin funds starting […]
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Block reports better-than-expected earnings for second quarter
Block beat on profit in its second-quarter earnings report on Thursday. The stock rose in extended trading. Here is how the company did, compared to analysts’ consensus estimates from LSEG. Earnings per share: 93 cents adjusted vs. 84 cents expected Revenue: $6.16 billion vs. $6.28 billion expected Block, formerly known as Square, posted $2.23 billion […]
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Trump’s bitcoin strategy was shared behind closed doors with CEOs who raised $25 million. Here’s what he told them.
Former President and 2024 Republican presidential candidate Donald Trump gestures while giving a keynote speech on the third day of the Bitcoin 2024 conference in Nashville, Tennessee on July 27, 2024. Jon Cherry | Getty Images News | Getty Images NASHVILLE — On Saturday morning at around 11:00 A.M. at the world’s biggest bitcoin conference […]
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