Bitcoin rebounds after a post-Omicron dip
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Bitcoin’s value appears to be following the trajectory of the broader market in response to news of the new Omicron coronavirus variant.
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Fintech News Stories
N26 to wind down US operations, closing 500,000 accounts
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N26, a Berlin-based neobank which operates in 25 countries and boasts more than 7 million customers (including 500,000 U.S. customers), is considering a slowdown of its U.S. market outreach.
Read MoreFintech Jiko powers soon-to-launch transgender-focused banking app
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Jiko, a banking technology provider that uses customer deposits to buy short-term treasury bills, is partnering with tech platform Euphoria on the company’s launch of a transgender-focused banking app called Bliss.
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Lender Oportun acquires personal-finance app Digit
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Oportun, a lender focused on the low- to moderate-income segments of the population, announced that it acquired personal-finance app Digit for $212.9M ($98.5M in equity and $114.4M in cash).
Read MoreBlockFi in hot water with regulators over crypto lending product
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Cryptocurrency exchange BlockFi is in the crosshairs of the Securities and Exchange Commission (SEC) over a product that pays high interest rates for lending out their digital tokens.
Read MoreMoneyLion acquires content creator platform MALKA Media
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MoneyLion, a New York-based fintech that offers banking, investing, loans and other financial services, announced that it acquired MALKA Media, a content studio and platform that helps creators reach consumers.
Read MoreFranklin Templeton accused of fintech startup sabotage
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Franklin Resources, otherwise known as Franklin Templeton – which provides investment advisory services to mutual fund, retirement, and institutional investors – is being accused of sabotaging a blockchain startup to help it enter the fintech market.
Read MoreVanEck to launch bitcoin future ETF this week after SEC approval in late October
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Investment firm VanEck is launching a bitcoin futures exchange-traded fund (ETF) this week, following in the footsteps of ProShares, which rolled out a similar product in October.
Read MoreRobo-advisers aren’t acting in client interests, SEC says
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Robo-advisers tout their transparency of fees and pro-consumer approaches, but the Securities and Exchange Commission (SEC) found that many were misleading clients through their advertising and not acting in clients’ best interests.
Read MoreICYMI: Lemonade to acquire fellow insurtech Metromile
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Lemonade, the publicly-traded insurtech firm that offers insurance for renters, homeowners, pet owners, and (very recently) car insurance, this week announced that it’s planning to acquire Metromile for $500M in stock.
Read MoreVanguard’s new app flops with investors complaining of user-experience glitches
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Earlier this year, Vanguard – the largest issuer of mutual funds in the world and the second-largest issuer of exchange-traded funds – claimed it would roll out a new app designed with clients’ needs in mind.
Read MoreBitcoin surges as inflation hits 30-year high
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Amid an inflation report that showed the consumer price index jumping 6.2% compared to one year ago – the fastest year-over-year jump since 1990 – the value of Bitcoin hit $68,950 on Wednesday before falling back. Meanwhile, Etherum soared past $4,800.
Read MoreNeobank Stretch aims to serve the formerly incarcerated
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As neobanks replace the community banks of yesteryear as financial providers for affinity groups – including, for example, immigrants, LGBT consumers, and African Americans – Stretch is looking to zero in on the financial needs of the around 600,000 individuals in the U.S. who have been released from state and federal prisons every year.
Read MoreEthereum surges to all-time high as decentralized finance builds momentum
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Ethereum, the world’s second-largest digital coin, grew in value more than 4% to more than $4,700 Monday, an all-time high.
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