FinTech
Stripe co-founder hits back at rivals accusing the company of unfair competition
John Collison, president and co-founder of Stripe. Christophe Morin | IP3 | Getty Images AMSTERDAM — The co-founder of $95 billion fintech giant Stripe defended the company’s business practices after complaints from rivals that it engages in unfair competition. John Collison, Stripe’s president, said Tuesday he is “pretty unapologetic” about the company’s decisions to launch […]
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Human rights advocates tell Congress bitcoin is essential in countries with ‘collapsing’ currencies
WASHINGTON — A week after prominent technologists publicly slammed crypto for being too risky and unproven in a letter to Congress, human rights advocates from around the world have sent a rebuttal to U.S. lawmakers defending digital assets for the access they provide to people in countries where “local currencies are collapsing, broken, or cut […]
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Apple is turning your iPhone into fintech service taking on PayPal, Affirm and more
Apple Pay Later Courtesy: Apple Inc. Apple is turning into a fintech company. The company announced several new features for the iPhone’s Wallet app at its developers conference Monday that directly compete with products from other fintech companies like Affirm and PayPal. The big one: a buy now, pay later service called Apple Pay Later. […]
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OnlyFans says it’s not seeing a Netflix-like slowdown in subscribers despite rising inflation
In this photo illustration, the OnlyFans logo is displayed on a smartphone. Sheldon Cooper | SOPA Images | LightRocket via Getty Images AMSTERDAM — OnlyFans is not experiencing a slowdown in subscribers like Netflix even as people grapple with rising prices, executives at the company said Tuesday. “We’re not experiencing that slowdown,” Keily Blair, OnlyFans’ […]
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$40 billion payments giant Checkout.com starts accepting stablecoins in major crypto push
The logo for payments start-up Checkout.com. Checkout.com AMSTERDAM — Online payments company Checkout.com says it will settle payments for its merchants round-the-clock using stablecoins, making it the last major financial services firm taking the plunge into crypto. The start-up, which competes with the likes of PayPal and Stripe, said Tuesday it is launching a feature […]
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Lawmaker who wrote New York crypto mining bill explains: ‘It’s not a ban’
Bitcoin offices in Istanbul, Turkey, on May 11, 2022. Umit Turhan Coskun/NurPhoto via Getty Images New York State Assemblymember Anna Kelles is tired of all the fear-mongering about the bill she wrote — and sponsored — to place a two-year moratorium on certain types of new cryptocurrency mines in the state. The fate of the […]
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More than 46,000 people have lost more than $1 billion to crypto scams since 2021, says FTC
The crypto market can be volatile, but it’s still attractive to young people who have “higher risk appetites,” said Chris Adam of SharpRank. Insta_photos | Istock | Getty Images More than 46,000 people say they lost over $1 billion in crypto to scams since the start of 2021, according to a report released by the […]
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New York just passed a bitcoin mining ban — here’s everything that’s in it
Following an early morning vote in Albany on Friday, lawmakers in New York passed a bill to ban new bitcoin mining operations. The measure now heads to the desk of Governor Kathy Hochul, who could sign it into law or veto it. If Hochul signs the bill, it would make New York the first state […]
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Coinbase extends hiring pause for ‘foreseeable future’ and plans to rescind some offers
Brian Armstrong, cofounder and CEO of Coinbase speaks onstage during ‘Tales from the Crypto: What the Currency of the Future Means for You’ at Vanity Fair’s 6th Annual New Establishment Summit at Wallis Annenberg Center for the Performing Arts on October 23, 2019 in Beverly Hills, California. Matt Winkelmeyer | Getty Images Two weeks after […]
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Wall Street and the problem of “way too many publicly traded fintechs”
In this weekly series, CNBC takes a look at companies that made the inaugural Disruptor 50 list, 10 years later. A decade ago, the idea that an investment industry customer preferred to never speak with a human being seemed questionable. But it was among the soundbites from the robo-advisory firm Wealthfront, which came to market […]
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