What follows Russian exclusion from SWIFT?

What follows Russian exclusion from SWIFT?

In a joint statement on Saturday, the U.S., U.K., E.U., and others announced that they would move to exclude “selected Russian banks” from SWIFT, the international payments system. The group of countries has also frozen assets belonging to Russia’s central bank in response to the country’s invasion of Ukraine.

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Crypto exchanges may face legal demands from Ukraine gov

Crypto exchanges may face legal demands from Ukraine gov

Mykhailo Fedorov, Vice Prime Minister and Minister of Digital Transformation of Ukraine, called on crypto exchanges to block Russian and Belarusian accounts following the invasion of Ukraine. Exchanges like Kraken and Binance pushed back at the demand.

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Under martial law, Ukraine limits withdrawals and suspends digital wallets

Under martial law, Ukraine limits withdrawals and suspends digital wallets

The National Bank of Ukraine imposed several temporary restrictions to avoid economic panic and collapse. The PFTS Stock Exchange also suspended trading on Thursday.

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Baltic states, Poland, UK call for Russian removal from SWIFT

Baltic states, Poland, UK call for Russian removal from SWIFT

Hours into the Russian invasion of Ukraine, the foreign ministers of Estonia, Latvia, and Lithuania encouraged “disengaging Russia from SWIFT,” the international payments system. Polish and UK officials echoed these calls as well.

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Opera adds Ethereum Layer 2 wallet to its Android browser

Opera adds Ethereum Layer 2 wallet to its Android browser

Through a partnership with DiversiFi, Opera users on Android will be able to make cheap and instant crypto transactions within their mobile browser wallet. The Layer 2 swapping feature is 100 times cheaper than Ethereum Layer 1.

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FTX looks to luxury market for growth

FTX looks to luxury market for growth

The crypto exchange announced that it has hired Lauren Remington Platt, a beauty entrepreneur, to spearhead partnerships with luxury brands. The move hopes to capture the wealth of the crypto class.

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Fintechs are building out internal M&A teams

Fintechs are building out internal M&A teams

After a series of IPOs and significant fundraising deals, fintechs are poaching junior bankers to evaluate and negotiate M&As internally. Banking giants increasingly see fintechs and other startups as talent competitors.

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Through acquisitions, SoFi eyes one-stop-shop status

Through acquisitions, SoFi eyes one-stop-shop status

The personal finance giant announced today that it’s acquiring banking-software maker Technisys SA through an all-stock deal worth $1.1B. SoFi’s stock has slid more than 30% since the beginning of the year.

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Delta to offer BNPL option through AmEx

Delta to offer BNPL option through AmEx

Through AmEx’s Plan It BNPL tool, AmEx U.S. Customer Card members can now split payments made on Delta.com. The airline’s app will offer the same feature this spring.

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What’s a likely exit strategy for lagging insurtechs?

What’s a likely exit strategy for lagging insurtechs?

Most insurtechs are trading at 80% below their 52-week highs, according to Alex Agus, an investor with Avid Ventures. Companies like Bright Health, Oscar Health, and Lemonade may look to be acquired.

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Roblox stock tumbles by 25%

Roblox stock tumbles by 25%

In a settlement with regulators, BlockFi agreed to register with the SEC and pay $100M in federal and state fines. It plans to launch an SEC-approved crypto interest-bearing security.

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UK banks to face higher standards for AI-driven loans

UK banks to face higher standards for AI-driven loans

Financial regulators told banks that they must prove that the use of AI in loan applications does not discriminate against minorities. The move follows growing concerns over systeming racism in banking.

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What does BlockFi’s SEC settlement mean for crypto?

What does BlockFi’s SEC settlement mean for crypto?

In a settlement with regulators, BlockFi agreed to register with the SEC and pay $100M in federal and state fines. It plans to launch an SEC-approved crypto interest-bearing security.

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Discover to offer non-card payments

Discover to offer non-card payments

Through a partnership with fintech Buy It Mobility Networks Inc. (BIM), Discover will let merchants accept payments directly from consumers’ bank accounts. The feature is popular in Asian markets.

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Indian gov-owned LIC eyes IPO

Indian gov-owned LIC eyes IPO

India’s state-run Life Insurance Corporation (LIC) announced yesterday that it would sell 5% of its shares to raise $8B. If approved, it would be the largest IPO in the country’s history.

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