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Hackers Stole About $32M in Ethereum Tokens This Week
FinTech
Hackers stole more than 150,000 ethereum tokens on Wednesday, worth about $32 million, CNBC reports. The theft included 44,055 tokens taken from Swarm City, a decentralized commerce platform. Matthew Carano, a communications officer for Swarm City, addressed the cyber crime in a blog post on Wednesday. At approximately 12:30 PM ET Bernd Lapp, Business Hive leader noticed that the entire contents
Bitcoin Surges as Divided Developer Factions Near a Truce
FinTech
Bitcoin surged more than 15 percent on Thursday to its highest level in four weeks after digital currency developers indicated they've neared an agreement that would avoid splitting the cryptocurrency in two, as CNBC reports. The two factions of digital currency developers have been split on the issue of scaling the coin between those who want bitcoin to be more
Hong Kong's First Eastern Plans Big Bets on Fintech
FinTech
The First Eastern Investment Group, a Hong Kong-based private equity and venture capital heavy, is reportedly mulling a big push into Hong Kong and Chinese fintech, according to the SCMP. The group’s CEO, Victor Chu, said that he expects his firm to invest in at least 10 Hong Kong and mainland fintech companies within the year. Why? Traditionally, the firm
Goldman Eases Up on Engineer Dress Code in Bid to Attract Top Techs
FinTech
Goldman Sachs sent out a memo to its technology division to "exercise judgment in determining when to adapt to business attire," reports CNBC. This dress code relaxation marks a deliberate attempt to appeal to top engineers and tech employees and compete with Silicon Valley and hedge funds for the best of the talent pool. The U.S. bank’s typically long hours
South Korea Legalizes It
FinTech
Great news South Korean cryptocurrency fans, according to Crowdfund Insider, your government just made it legal to transfer cryptocurrencies internationally: According to several online sources, a new law in South Korea is set to make it legal for companies to process international transfers using cryptocurrencies like Bitcoin and Ether. The new laws, which are set to go into effect July
Lufax to Open First Overseas Platform in Singapore
FinTech
Eight months after it announced its expansion plans, Lufax, the Chinese P2P lending giant, is slated to open in Singapore. Reuters: Chinese online wealth management giant Lufax will launch its first overseas platform in Singapore, the company said on Monday, as a more welcoming regulatory environment gave the city state an edge over neighboring Hong Kong. As Crowdfund Insider notes,
Citigroup Looking to Staff New Robotics Division  
FinTech
Banking, say hello to robots… again. Citigroup is in the process of hiring for a variety of new roles in their automation centers, designed to implement innovative robotic technology throughout the company, reports Business Insider. A Citi spokesperson declined to comment, but Business Insider has learned that the Smart Automation Centre has been staffing branches in Budapest, London, New York,
Video: The CompareAsiaGroup, Who They Are, What They're All About, and How They Plan to Empower Consumers Across Asia
FinTech, Video
Andrew Work speaks to Sam Allen, CEO of CompareAsiaGroup, at Rise Hong Kong 2017. CompareAsiaGroup received a 50 million USD funding from big companies which included Goldman Sachs and Alibaba. They operate the leading online comparison platforms for financial, telco and utility products across Asia, aiming to become the No.1 trusted source of information on personal finance and saving money
Hong Kong's Insurers Are Doubling down on Fintech
FinTech
Hong Kong’s banks are still a little behind when it comes to fintech adoption, but it’s insurers? They’re a little different. According to the SCMP, insurers throughout Hong Kong have either embraced fintech, or are slated to embrace fintech in a big way over the next few years. Allianz for instance has been using big data to help with its
15 Cryptocurrency Hedge Funds Set for Launch as Bitcoin Surges
Our series on Cryptocurrency Hedge Funds hedge funds continues below. Updated: July 13.  A surge in initial coin offerings has become a byproduct of the recent spike in demand for cryptocurrencies. Initial coin offerings or ICOs for short, are in the words of Forbes contributor Laura Shin, “what you get if bitcoin and Kickstarter had a baby.” These products are a