Nubank, the world’s biggest standalone digital bank, cuts IPO valuation

Nubank, the world’s biggest standalone digital bank, cuts IPO valuation

Nubank, the Berkshire Hathaway-backed digital banking behemoth based in Brazil, cut the targeted price range for its planned IPO by about 18% this week.

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Jack Dorsey’s Twitter departure clears way for Square and bitcoin focus

Jack Dorsey’s Twitter departure clears way for Square and bitcoin focus

Jack Dorsey announced he’s stepping down from his role as CEO of Twitter, but the move may allow for a sharper focus on Square, the payments company where he will remain CEO.

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ICYMI: Klarna piles on losses as ‘buy now, pay later’ demand grows

ICYMI: Klarna piles on losses as ‘buy now, pay later’ demand grows

Klarna, the $46B Swedish company whose toolset allows retailers to offer ‘buy now, pay later’ (BNPL) capabilities, reported a $344M loss from January to September.

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Bitcoin rebounds after a post-Omicron dip

Bitcoin rebounds after a post-Omicron dip

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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N26 to wind down US operations, closing 500,000 accounts

N26 to wind down US operations, closing 500,000 accounts

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.

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Fintech Jiko powers soon-to-launch transgender-focused banking app

Fintech Jiko powers soon-to-launch transgender-focused banking app

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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Wealthfront is reportedly for sale, but is a $1.5B price tag too high a hill to climb?

Wealthfront is reportedly for sale, but is a $1.5B price tag too high a hill to climb?

This week, news outlets reported that digital financial planning platform Wealthfront – one of the early so-called robo-advisers – is exploring a sale.

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Lender Oportun acquires personal-finance app Digit

Lender Oportun acquires personal-finance app Digit

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).

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BlockFi in hot water with regulators over crypto lending product

BlockFi in hot water with regulators over crypto lending product

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.

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MoneyLion acquires content creator platform MALKA Media

MoneyLion acquires content creator platform MALKA Media

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.

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Franklin Templeton accused of fintech startup sabotage

Franklin Templeton accused of fintech startup sabotage

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.

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VanEck to launch bitcoin future ETF this week after SEC approval in late October

VanEck to launch bitcoin future ETF this week after SEC approval in late October

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.

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Robo-advisers aren’t acting in client interests, SEC says

Robo-advisers aren’t acting in client interests, SEC says

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.

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ICYMI: Lemonade to acquire fellow insurtech Metromile

ICYMI: Lemonade to acquire fellow insurtech Metromile

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.

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Vanguard’s new app flops with investors complaining of user-experience glitches

Vanguard’s new app flops with investors complaining of user-experience glitches

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.

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