SoftBank is hemorrhaging money. Again.
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SoftBank is expected to announce additional losses of billions of dollars from its two funds. The Japan-based investment conglomerate lost $27B in the previous fiscal year.
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Fintech News Stories
Zillow faces another lawsuit for botched house-flipping business
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Last week, investors in Zillow filed a lawsuit against the Seattle-based proptech giant on the grounds that it made “false and misleading statements” about Zillow Offers, its house-flipping project. This is the sixth investor lawsuit filed since Zillow shuttered the unprofitable initiative.
Read MoreFundraising is falling, but VCs have more money than ever
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According to a report by CB Insights, global startup funding fell by 23% in Q2 2022 from Q1, including by 25% in the US. However, US-based VCs raised a record-breaking $73.8B in Q1.
Read MoreInvesting in fintechs with Information Venture Partners
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In an interview with The Financial Revolutionist, Jane Podbelskaya, Principal at Information Venture Partners, suggests economic fundamentals will help early-stage fintechs weather upcoming volatility, and will make them capable of sustained growth under any economic conditions.
Read MoreWhere have all the SPACs gone?
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Special Purpose Acquisition Companies (SPACs) once seemed like the future of public launches. But, where there were more than 300 SPAC IPOs in Q1 2021, less than 70 took place a year later.
Read MoreHedge funds anticipate a recession
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US-based hedge funds are making more conservative bets on stock prices than they have in a decade. Funds like Bridgewater and BlackRock have increasingly taken short positions on billions of dollars in assets.
Read MoreMillennials report low confidence in retirement plans
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Research by Alto Solutions, Inc., a self-directed IRA provider, claims 53% of millennial investors aren’t confident they will ever be able to afford retirement. And 76% worry that a market crash could erase their savings.
Read MoreInsurtech in a bear market with MTech Capital
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In an interview with The Financial Revolutionist, Brian McLoughlin, Partner and Co-Founder of MTech Capital, details upcoming fundraising challenges, discusses the likelihood of major acquisitions, and describes why insurtech remains a promising site for investment.
Read MoreWhat’s behind the VC crypto push?
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Binance Labs, the venture arm of Binance, the crypto exchange, announced a $500M fund to invest in Web3 and blockchain technologies. The raise comes a week after Andreessen Horowitz launched a $4.5B crypto fund.
Read MoreIs Robinhood’s crypto push bound to fail?
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Reporting by Business Insider exposed a woefully delayed pivot to crypto trading by Robinhood. An overly cautious legal team and leadership churn further contributed to the slow pace.
Read MoreIs FTX gearing up for a Robinhood takeover?
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The cryptocurrency exchange announced that select users in the U.S. have access to commission-free trading for hundreds of exchange-listed securities, including both stocks and ETFs.
Read MoreBored Ape flirts with a16z
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Startup Yuga Labs, which minted the Bored Ape Yacht Club series of NFTs, is in financing talks with Andreessen Horowitz at a valuation between $4B and $5B. If it goes through, the deal would be the first institutional investment into the company.
Read MoreF-Prime Capital debuts Fintech Index
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Launched this morning, the Fintech Index tracks the performance of 54 fintechs in public markets and tracks related exits. With a lifetime performance of +743.1%, the index has outperformed the S&P 500 by more than 600 percentage points.
Read MoreWhy is Valereum buying the Gibraltar Stock Exchange?
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Valereum, a Gibraltar-based holding company, announced that it is buying 90% of the Gibraltar Stock Exchange (GSX). Valereum looks to create the world’s first integrated fiat and digital exchange.
Read MoreFacing a volatile market, Robinhood touts reliability
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In a Tuesday blog post marking a year since the GameStop stock controversy, Robinhood brushed past liability claims to emphasize measures that should prevent another trading halt.
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