News > FinTech

The SoFi Sex Scandal Highlights How Hard it is For Women in Fintech
FinTech
Fintech has become a major force over the decade since the financial crisis, with $12.8 billion in venture capital flowing into the sector in 2016 alone. But of the nearly 500 deals that took place in the U.S. last year, less than a dozen went to companies founded by women. That lack of representation at the top set the stage for
Bitcoin Crashes Further After China Halts Trading
FinTech
Bitcoin's value plunged below $3,000 on Friday after BTC China - one of China's biggest exchanges - halted trading of the cryptocurrency, the Guardian reports. The drop in value represents a 40 percent decline from the high of nearly $5,000 that bitcoin reached earlier this month. BTC China indicated that it would stop all trading of bitcoin by Sept. 30.
Another One Bites the Dust – BTC China to Halt All Crypto Trading
FinTech
Hot on the heels of Bitkan’s OTC bitcoin trading shut down, BTC China – one of the Middle Kingdom’s largest bitcoin exchanges – announced that it too will suspend bitcoin trading. 1/ After carefully considering the announcement published by Chinese regulators on 09/04, BTCChina Exchange will stop all trading on 09/30. — BTCC (@YourBTCC) September 14, 2017 No explanation was
China's Bitkan Suspends OTC Bitcoin Trading Following ICO Ban
FinTech
With Beijing cracking down on everything bitcoiney, one of China’s more popular cryptocurrency trading platforms, Bitkan, has decided to suspend some operations. SCMP: “..China’s Bitkan said it would suspend its over-the-counter (OTC) bitcoin and bitcoin cash trading services from Thursday. The move is in response to the recent ban on the practice of initial coin offerings (ICOs), Bitkan said in
SoFi CEO Resigns Amid Sexual Harassment Allegations
FinTech
Michael Cagney is stepping down as chief executive of Social Finance Inc. about a month after a former employee filed a lawsuit against the San Francisco-based online lending startup in a whistle-blower case, Bloomberg reports. Cagney is the highest-ranked executive to step down from SoFi amid the sexual harassment claims. He will stay on board as CEO until the board
Jamie Dimon: Bitcoin is a 'Fraud'
FinTech
Here are two things we learned today from Jamie Dimon that will definitely get a JPMorgan employee fired: Being stupid and investing in bitcoin. And according to Dimon, being stupid and investing in bitcoin are one and the same. Speaking at an investor conference in New York on Tuesday, the JPMorgan Chase chief executive predicted that things "wont end well"
China to Ban All Domestic Bitcoin Trading
FinTech
In the latest twist in the China versus cryptocurrencies saga, Beijing is reportedly set to ban all domestic bitcoin trading. Here’s the WSJ: Chinese authorities are preparing to shut down the country’s bitcoin exchanges, according to people familiar with the matter, reflecting a growing unease with the virtual currency and its recent surge in value. Cryptocurrency prices cratered soon after
U.S. Senator Criticizes Equifax's Response to Massive Data Breach
FinTech
The shocking data breach last week of Equifax that compromised sensitive information of roughly 143 million Americans - including Social Security numbers and driver's licenses - has been called "as bad as it gets" by security experts. The fact that one of three maj0r consumer credit agencies in the United States - with access to so much sensitive information that could cause devastation
AMD And Nvidia: How Vulnerable Are They To Cryptocurrency Concerns?
FinTech
Demand for cryptocurrency mining has been a pleasant surprise for shareholders of Advanced Micro Devices, Inc. (NASDAQ: AMD) and NVIDIA Corporation (NASDAQ: NVDA). There’s no question the surge in crytocurrency prices has driven demand for cryptocurrency mining GPUs. However, recent reports of China shutting down bitcoin exchanges have sent the volatile currency’s value plummeting $100 since Friday. If the cryptocurrency boom starts to hit more snags, should AMD
Official: China's ICO Ban 'Only Temporary'
FinTech
Here’s an amusing turn of events. After shocking the world with by banning ICOs, Beijing appears to be reversing course and saying that the ban was “only temporary.” Take it away, Box Mining (h/t Coin Telegraph): The FUD over the China ICO ban seems to be over. After causing a global panic on Monday with the announcement of an ICO