When it secured a banking charter and raised a half-billion dollars last year, Varo promised growth and profitability. But an abrupt fintech downturn and high spending have left it with no choice but to slam on the brakes.
Crypto offers too many benefits to throw it out as a payment mechanism. Let's look at the challenges vexing the payments industry today.
Some viewed Klarna as the next PayPal or Block Inc., companies that have grown by stealing business traditionally dominated by banks....
The Federal Reserve chairman says a digital dollar is "something we really need to explore as a country."...
Fintech Brex expresses regret over the way it communicated its decision to stop working with SMBs.
Coinbase Derivatives Exchange hopes to capitalize on a market that is $3 trillion in volume worldwide and provide hedging options for traders.
"Unsecured lending" repeats some of issues of undercollateralized lending that blew up some crypto firms, but offers a potential solution.
Acting Comptroller of the Currency Michael Hsu says the industry’s recent drama makes his agency more confident about limiting banks’ exposure to crypto.
While many active market participants view crypto as similar to an online casino and some think it may be a longshot home-run, about 25% of Americans expect...
Last year, Tiger Global Management led a rush to back startups nearing initial public offerings, piling into late-stage funding rounds for banking app Chime, data firm Databricks and videoconferencing startup Hopin. New data shows just how much Tiger and other deep-pocketed investors have pulle