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Chinese buying frenzy sees Bitcoin surge above $600
FinTech
The recent surge in Bitcoin buying saw the cryptocurrency shoot past $600 over the weekend, hitting a two-year high. One needs to look no further than China for a reason why. According to experts cited by CoinTelegraph, fears of a devaluing yuan, combined with capital controls, has fueled the latest buying spree. The same was true when Bitcoin jumped to
Pro football player sues business manager who allegedly blew $3M in bitcoin scheme
Darren McFadden, a running back for the Dallas Cowboys, has sued his former business manager for allegedly mishandling his money, including losing $3 million in a bitcoin business venture, The Dallas Morning News reports. McFadden filed the $15-million lawsuit against his former business manager, Michael Vick (not the same Michael Vick who plays quarterback in the NFL), and 10 other people
Fintech expert Markus Gnirck explains why 'fintech' isn't new and what it will mean in the coming years
FinTech
Markus Gnirck, co-founder of tryb, a Singapore-based company that connects fintech startups to the finance industry in Asia, joined hundreds of other participants at last week's Finnovasia conference in Hong Kong. Gnirck spoke on a panel, "Banks and Startups: Marriage or Love Affair," to discuss the dynamics of the fintech-traditional finance relationship and what's next for Asia. NexChange followed up with
Finnovasia kicks off week of innovation in Hong Kong
FinTech
Hong Kong was geek-tastic last week as startup innovators, venture capitalists, and others crisscrossed the city for a week of panels and networking. Finnovasia, the fintech-focused event, started Monday at Cyberport before handing the reigns over to Rise at the convention center. For Finnovasia, finance met Silicon Valley in a mesh of fun and informative, with panels discussing the future
Sheila Bair joins 401(k) fast-growing robo-advisor Blooom
Sheila Bair is joining Blooom as its first advisory board member. Blooom is a fast-growing robo-advisor for 401(k) investors based in Kansas. It reports that it has advised on $300 million on assets in the past 20 months, faster, it claims, than Betterment or Wealthfront. Blooom has engaged in an unconventional marketing campaign, offering to give potential clients a burrito
Anthony Duffy: consumers are driving the digital charge in banks
FinTech
European-wide study by Fujitsu UK & Ireland looked at how consumers are driving the digital charge in banks, writes FinBuzz. The research highlighted the shift in consumer interaction with their banks, as digital-first demand continues to drive a new pace of change. According to the 7,000 consumers surveyed, digital plays an increasingly prominent part in their banking interactions, with more
Visa trades war words with frenemy PayPal
FinTech
Until now online payment firm PayPal has had a pretty civil, if vague, relationship with credit card giant Visa. And why not? PayPal may technically be competition but Visa has seen a lot of transactions come via the platform. However, Visa CEO Charles Scharf says he is not longer content with this frenemy status. According to Recode, Scharf has taken
What makes a fintech hub? EY's James Lloyd shares his thoughts at Finnovasia
FinTech
What is in a fintech hub? Would a city by any other name sound just as sweet? James Lloyd of EY thinks so. Cities from New York to London to Hong Kong, and quite a few in between, have dubbed themselves "fintech hubs," Lloyd pointed out at the Finnovasia conference in Hong Kong Monday. But, despite what it may think,
Will the Brexit be good or bad for UK fintech?
FinTech
Later this month the U.K. will vote on whether it will leave the European Union. On the whole, the sentiment within in the fintech industry seems to be that a Brexit, a British exit, will be bad news, but the feeling is by no means universal. The most recent indication that fintech firms are keen to stay with the status
The entire blockchain ecosystem in one visualization
FinTech
The size of the bitcoin market may still be microscopic when contrasted with other global markets, but that hasn’t stopped the eight-year-old cryptocurrency, as well as the surrounding blockchain ecosystem, from evolving. As Bitcoin Magazine points out in its article accompanying this infographic: As Bitcoin approaches its eighth birthday, we see things changing. It is turning into that curious, wide-eyed