News > FinTech

Report: 'Bitcoin Jesus' Has Been Forsaken
About a year ago Bitcoin reached a truce to end what had become a civil war between two factions of digital currency developers who had split on the issue of scaling the coin: There were those who wanted Bitcoin to be more of a commodity, like gold, with a limited supply that can accrue value; and those who wanted Bitcoin
Investor Sues AT&T For $224M Over Cryptocurrency Theft
An investor from California has filed a $224-million lawsuit against AT&T, alleging the company was negligent in allowing hackers to steal about $24 million worth of cryptocurrency from him, as CNBC reports. The complaint, filed by Michael Terpin in the U.S. District Court in Los Angeles, accused the telecommunications behemoth of "willing cooperation with the hacker, gross negligence, violation of
Coinbase Acquires Distributed Systems, Boosting its Efforts on Digital Identity
Coinbase has taken a significant step toward building on its blockchain-based identity security efforts by acquiring Distributed Systems, a five-person strong San Francisco-based startup, which has been developing an open identity standard for decentralized apps, or dApps. According to TechCrunch, three of Distributed Systems' team members will work with Coinbase's Toshi decentralized mobile browser team, while CEO Nikhil Srinivasan and co-founder
Ripple Wants to Bring its Blockchain-Based Payments to China
An executive for Ripple tells CNBC that the company wants to bring its blockchain-based payments technology to China - while also ramping up adoption of its XRP coin. Ripple's blockchain technology is used to accelerate cross-border payments and Jeremy Light, vice president of European Union strategic accounts at Ripple, say that China "is definitely a target" for the company, according
The Real Reason South Korea Is Warming up to Cryptocurrencies
FinTech
Since January of this year, South Korea has been making headlines for taking drastic measures in the cryptocurrency industry. The country was the first to pass regulation requiring players in the industry to synchronize their trading details with those in the bank. The country even went further to place a ban on initial coin offerings (ICOs). Q2 hedge fund letters,
Patron of Fintechs: Surveying Goldman Sachs Growing Portfolio of Tech Startups
As reported Tuesday this week, fintech startup Even Financial announced raising $18.8 million in Series A seed funding, a portion of which came from investment bank Goldman Sachs (NYSE: GS). Even Financial, whose flagship application program interface (API) collects and curates financial service products and offers for distribution on various bank and brokerage websites and user portals, is the latest
Report: Beijing-Based Crypto Mining Company On Pace to Hit $10B in Revenue For the Year
Forget everything you've heard about the struggles facing the cryptocurrency market - at least for a minute - because it turns out not everyone is struggling. Despite Bitcoin dropping about 60 percent from its record high point in December - with possibly more pain ahead - Bitmain, a crypto mining equipment behemoth in Beijing, is on pace to pull in
A Blockchain Startup Aims to 1-Up the Video Game Crowdfunding Model
In a “State of Industry Panel” discussion at QuoVadis 2016, Jason Della Rocca, co-founder of Execution Labs, an early stage investor in game studios observed that “The barrier to entry is lower than ever, but the barrier to success is higher than ever before.” Many indie game developers are driven by their creative flow and passion; hence, they are not
Orig3n Teams up With ZhongAn to Bring Healthtech to China
FinTech
Boston-based biotech firm Orig3n has reportedly teamed up with online insurance juggernaut ZhongAn Online Property and Casualty Insurance to bring healthtech solutions to Chinese consumers, according to a press release. ZhongAn, the “first and largest online-only insurance company in China,” primarily offers insurance products and solutions for lifestyle consumption, consumer finance, health, auto, and travel. However, with Orig3n’s support it
Hong Kong-Based Travel Booking Startup Just Raised $200M For Major U.S. and European Expansion
Klook, a Hong Kong-based travel booking platform announced that it has closed US$200 million in Series D funding, giving it $300 million in total financing and reportedly securing its place on the list of global unicorns. The funding round was led by Sequoia China, Matrix Partners, Goldman Sachs, Boyu Capital and TCV, an Asia-based sovereign wealth fund. Other investors include