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Cryptocurrency exchange FTX, which recently filed for bankruptcy protection, has fired three of its top executives, including co-founder Gary Wang.
The two other fired executives were Engineering Director, Nishad Singh, and Caroline Ellison, who ran FTX’s trading arm Alameda Research.
The crypto exchange filed for bankruptcy protection last week and former Wall Street trader Sam Bankman-Fried resigned as chief executive after the rival exchange Binance walked away from a proposed acquisition.
The U.S. bankruptcy proceedings involve multiple FTX group companies with more than 100,000, and possibly over 1 million, creditors.
The company had been secretly taking risks with customer funds to prop up a trading firm owned by Bankman-Fried, which led to the company’s collapse.
Several crypto firms have since been bracing for the fallout from the FTX collapse, with many counting their exposure in millions to the beleaguered exchange. Customers and investors, now face losses totaling billions of dollars.
#engineering1 #engineering6 #intelligence #intelligence3 #proceedings2 #cryptocurrency #executives0 #engineering9 #bulletpoint8 #engineering0 #intelligence2 #engineering5 #engineering4 #engineering #bulletpoint0 #proceedings1 #proceedings9 #bulletpoint7 #bulletpoint6 #intelligence9 #intelligence8 #bulletpoint5 #intelligence7 #bankruptcy #protection #intelligence6 #bulletpoint4 #acquistion #proceedings8 #proceedings #intelligence1 #bulletpoint3 #intelligence5 #bulletpoint2 #proceedings0 #bulletpoint1 #contaigion #intelligence4 #engineering8 #bulletpoint9 #proceedings7 #intelligence0 #bulletpoint #proceedings6 #proceedings5 #engineering3 #executives #proceedings4 #engineering7 #proceedings3 #engineering2
https://youtu.be/Dm6i_XyVYN8
The two other fired executives were Engineering Director, Nishad Singh, and Caroline Ellison, who ran FTX’s trading arm Alameda Research.
The crypto exchange filed for bankruptcy protection last week and former Wall Street trader Sam Bankman-Fried resigned as chief executive after the rival exchange Binance walked away from a proposed acquisition.
The U.S. bankruptcy proceedings involve multiple FTX group companies with more than 100,000, and possibly over 1 million, creditors.
The company had been secretly taking risks with customer funds to prop up a trading firm owned by Bankman-Fried, which led to the company’s collapse.
Several crypto firms have since been bracing for the fallout from the FTX collapse, with many counting their exposure in millions to the beleaguered exchange. Customers and investors, now face losses totaling billions of dollars.
#engineering1 #engineering6 #intelligence #intelligence3 #proceedings2 #cryptocurrency #executives0 #engineering9 #bulletpoint8 #engineering0 #intelligence2 #engineering5 #engineering4 #engineering #bulletpoint0 #proceedings1 #proceedings9 #bulletpoint7 #bulletpoint6 #intelligence9 #intelligence8 #bulletpoint5 #intelligence7 #bankruptcy #protection #intelligence6 #bulletpoint4 #acquistion #proceedings8 #proceedings #intelligence1 #bulletpoint3 #intelligence5 #bulletpoint2 #proceedings0 #bulletpoint1 #contaigion #intelligence4 #engineering8 #bulletpoint9 #proceedings7 #intelligence0 #bulletpoint #proceedings6 #proceedings5 #engineering3 #executives #proceedings4 #engineering7 #proceedings3 #engineering2
https://youtu.be/Dm6i_XyVYN8
Square is getting into the business credit card game. The mobile payments company is expanding its existing partnership with American Express to launch a new credit card that will be tailored for Square’s merchant clients.
Adding a credit card to the mix will not only round out Square’s in-house banking options, it will also help it compete in the increasingly profitable business banking arena.
“Square has spent years building a successful lending program to eliminate this barrier for sellers, and we’re uniquely positioned to innovate even further in this space to expand access to new types of credit products,” said Square Banking GM Luke Voiles.
As with most fintechs that offer a credit card, Square is tapping a third party, i2c, to power the credit card offering, which will be issued by Celtic Bank.
According to Square, the credit card will integrate directly into the company’s banking suite to help businesses manage their cashflow and offer them visibility into their business’ finances.
The only thing surprising is how late to the game Square is. It launched in 2009 when Fintech was still in its infancy. The company debuted its lending arm in 2014 and remained relatively quiet until the challenger banking boom last year when it unveiled its savings and checking accounts.
#bulletpoint3 #bulletpoint9 #intelligence #transactions3 #interchange2 #intelligence1 #artificialintelligence #intelligence6 #bulletpoint2 #jackdorsey #intelligence5 #bulletpoint8 #interchange1 #intelligence0 #transactions6 #transactions9 #bulletpoint7 #intelligence4 #bulletpoint6 #transactions2 #bulletpoint1 #bulletpoint0 #transactions #interchange0 #transactions5 #interchange #transactions8 #transactions1 #intelligence3 #transactions0 #expansion #bulletpoint5 #intelligence9 #intelligence8 #intelligence2 #intelligence7 #bulletins #bulletpoint #bulletpoint4 #oneminute #transactions4 #transactions7 #shortform
https://youtu.be/LT90hg0eORo
Adding a credit card to the mix will not only round out Square’s in-house banking options, it will also help it compete in the increasingly profitable business banking arena.
“Square has spent years building a successful lending program to eliminate this barrier for sellers, and we’re uniquely positioned to innovate even further in this space to expand access to new types of credit products,” said Square Banking GM Luke Voiles.
As with most fintechs that offer a credit card, Square is tapping a third party, i2c, to power the credit card offering, which will be issued by Celtic Bank.
According to Square, the credit card will integrate directly into the company’s banking suite to help businesses manage their cashflow and offer them visibility into their business’ finances.
The only thing surprising is how late to the game Square is. It launched in 2009 when Fintech was still in its infancy. The company debuted its lending arm in 2014 and remained relatively quiet until the challenger banking boom last year when it unveiled its savings and checking accounts.
#bulletpoint3 #bulletpoint9 #intelligence #transactions3 #interchange2 #intelligence1 #artificialintelligence #intelligence6 #bulletpoint2 #jackdorsey #intelligence5 #bulletpoint8 #interchange1 #intelligence0 #transactions6 #transactions9 #bulletpoint7 #intelligence4 #bulletpoint6 #transactions2 #bulletpoint1 #bulletpoint0 #transactions #interchange0 #transactions5 #interchange #transactions8 #transactions1 #intelligence3 #transactions0 #expansion #bulletpoint5 #intelligence9 #intelligence8 #intelligence2 #intelligence7 #bulletins #bulletpoint #bulletpoint4 #oneminute #transactions4 #transactions7 #shortform
https://youtu.be/LT90hg0eORo
Trending Updates
Master C.
Jan 8, 2023
We are looking for the best of the best from our members to join our Premier Master Enabler Program. Focusing right now on International Expansion and New Market Entry professionals for Europe, Latin America, and the USA. Interested in learning more message Master Connector here or email - masterenabler@fintechconnector.com
1 comment
Master C.
Aug 9, 2022
Meet our FinTech Connector Switzerland Cruise sponsors on September 9th in Zurich.
Lloyd's & Partners (VIP Gold Sponsor) and VISA Europe (Premier Sponsor).
We want to thank Lucas T. Landolt (Lloyd's & Partners), Adrian Burgi (Lloyd's & Partners) and Santosh Ritter (VISA) for your support and we look forward to meeting you in Zurich.
There is still time to RSVP for our premier event of the year - https://www.eventbrite.com/e/fintech-connector-switzerland-networking-lunch-cruise-vip-dinner-registration-239437362597
Thank you Fabian Lehner for organizing this event for our FinTech Connector members and partners.
#FinTechConnector #Switzerland #Zurich #Event
Lloyd's & Partners (VIP Gold Sponsor) and VISA Europe (Premier Sponsor).
We want to thank Lucas T. Landolt (Lloyd's & Partners), Adrian Burgi (Lloyd's & Partners) and Santosh Ritter (VISA) for your support and we look forward to meeting you in Zurich.
There is still time to RSVP for our premier event of the year - https://www.eventbrite.com/e/fintech-connector-switzerland-networking-lunch-cruise-vip-dinner-registration-239437362597
Thank you Fabian Lehner for organizing this event for our FinTech Connector members and partners.
#FinTechConnector #Switzerland #Zurich #Event
5 comments
Master C.
Jun 17, 2022
As the global economic environment is shifting, now more than ever partnering with the right organizations to increase business opportunities, focus on revenue growth, and drive innovation is critically important.
We can help you on your fintech and innovation journey.
Click on the link to learn more and let's jump on a call to discuss your business objective - https://www.fintechconnector.com/organizations
#FinTechConnector #Innovation #Partnerships #BusinessDevelopment
We can help you on your fintech and innovation journey.
Click on the link to learn more and let's jump on a call to discuss your business objective - https://www.fintechconnector.com/organizations
#FinTechConnector #Innovation #Partnerships #BusinessDevelopment
3 comments
Stephen W.
Mar 18, 2022
See our recent WealthTech 2022 report for a range of viewpoints and thinking on the main trends for WealthTech in 2021/2022.
https://www.thewealthmosaic.com/vendors/the-wealth-mosaic/news/wealthtech-2022-is-live/
This is one of an expanding number of reports we've created at The Wealth Mosaic on technology in wealth management. Next up is our second ESG report, then our second Blockchain & DLT report, then our first US RIA WealthTech report.
https://www.thewealthmosaic.com/vendors/the-wealth-mosaic/news/wealthtech-2022-is-live/
This is one of an expanding number of reports we've created at The Wealth Mosaic on technology in wealth management. Next up is our second ESG report, then our second Blockchain & DLT report, then our first US RIA WealthTech report.
4 comments
Angel L.
Jan 11, 2023
I wrote an article that highlights the opportunities and challenges of digital transformation in banking and covers points on having a well-thought-out plan, organizational culture, and how to get started with partners that have done it already.
Click to read the article - https://www.fintechconnector.com/blog-actual/2023/1/9/innovating-banks-start-with-a-digital-transformation-plan
Sharing with our Financial Service Automators - Vikas Bansal Erik Gillet Darrell Wright Luisa Franco Batu Sat Simon Weifenbach Les Riedl Andy Lin Jenna Chamra Craig Schwartz Robert Lacoursière Michael Montecuollo Jonathan Blessing Christin Nagel Shweta Mahajan Michael Young Martina Rousseau Ridham Modi Trena Blair Jen Gonzalez Carlos M. Mendes
Click to read the article - https://www.fintechconnector.com/blog-actual/2023/1/9/innovating-banks-start-with-a-digital-transformation-plan
Sharing with our Financial Service Automators - Vikas Bansal Erik Gillet Darrell Wright Luisa Franco Batu Sat Simon Weifenbach Les Riedl Andy Lin Jenna Chamra Craig Schwartz Robert Lacoursière Michael Montecuollo Jonathan Blessing Christin Nagel Shweta Mahajan Michael Young Martina Rousseau Ridham Modi Trena Blair Jen Gonzalez Carlos M. Mendes
3 comments
Luisa F.
Mar 7, 2024
Hello Fintech Connector Community! I have a bank client looking for fintechs that are interested in bank sponsorship. If you're in the market for a bank sponsor, please message me.
6 comments
Master C.
May 13, 2022
SWITZERLAND IS CALLING ALL FINTECH CONNECTOR MEMBERS...
Join us in Zurich in September for a networking lunch cruise around Lake Zurich.
RSVP today and meet members from over 10+ countries in one of the most beautiful cities in Europe.
Here is the link - https://www.eventbrite.com/e/fintech-connector-switzerland-networking-lunch-cruise-vip-dinner-registration-239437362597
#FinTechConnector #Community #Zurich #Events
Join us in Zurich in September for a networking lunch cruise around Lake Zurich.
RSVP today and meet members from over 10+ countries in one of the most beautiful cities in Europe.
Here is the link - https://www.eventbrite.com/e/fintech-connector-switzerland-networking-lunch-cruise-vip-dinner-registration-239437362597
#FinTechConnector #Community #Zurich #Events
2 comments
Angel L.
Apr 17, 2022
Another powerful report from FIS on global payments. This is a 156-report that gives you global payments trends, key insights, and other important ecosystem information.
The payments space continues to evolve with super apps, CBDCs, embedded finance, evolution of real-time payments, banking the unbanked, and more...
Check out the report and use it as a reference guide for what's happening and what's coming in payments.
I want to thank Ahmed Refaie Abdo from DSRPTD in the UAE for sharing it with me.
What are your thoughts? Steven Wasserman, Mario Cohen, Jaroslaw Sarwa, Angel Lorente, Carlos M. Mendes , Fabian Lehner , Elena Kozhemyakina , Jaroslaw Sarwa , Adam Ull , Sefa Bicer , Shafique Ibrahim
#fintechconnector #fintech #financialservices #innovation #payments #CBDC #cryptocurrency
The payments space continues to evolve with super apps, CBDCs, embedded finance, evolution of real-time payments, banking the unbanked, and more...
Check out the report and use it as a reference guide for what's happening and what's coming in payments.
I want to thank Ahmed Refaie Abdo from DSRPTD in the UAE for sharing it with me.
What are your thoughts? Steven Wasserman, Mario Cohen, Jaroslaw Sarwa, Angel Lorente, Carlos M. Mendes , Fabian Lehner , Elena Kozhemyakina , Jaroslaw Sarwa , Adam Ull , Sefa Bicer , Shafique Ibrahim
#fintechconnector #fintech #financialservices #innovation #payments #CBDC #cryptocurrency
5 comments
Master C.
Oct 5, 2022
Great seeing our Mexico Community Partner Sofia Gamboa on El Financiero Factor Fintec speaking with Sergio Loredo about fintech in Mexico.
Watch the interview here - https://www.elfinanciero.com.mx/video/tv/factor-fintech/2022/10/01/entrevista-con-sofia-gamboa-de-fintech-connector-por-sergio-loredo-factor-fintec-4-t4/
NOTE: The interview is in Spanish.
Watch the interview here - https://www.elfinanciero.com.mx/video/tv/factor-fintech/2022/10/01/entrevista-con-sofia-gamboa-de-fintech-connector-por-sergio-loredo-factor-fintec-4-t4/
NOTE: The interview is in Spanish.
5 comments
Angel L.
Nov 11, 2022
Great to see how we have come a long way since our Meet Ups at Hurley's in NYC to now travelling the world to connect people, opportunities, and capital. Looking forward to our 2023 FinTech Connector events being announced shortly.
Hope to have many of our members joining us on our Innovation Days, Cruises, and VIP Member Dinners.
Thanks to our Community Partners Fabian Lehner Jaroslaw Sarwa Elena Kozhemyakina Shmuel Ben Tovim Mario Cohen Narayanan Ganapathy Meriem Yacoubi Varsenia Stoyanova Aleksandra Ossowska Alfonso Ballesteros Ryohei Uetani Sofia Gamboa Vikas Bansal Shaul Lifshitz
Hope to have many of our members joining us on our Innovation Days, Cruises, and VIP Member Dinners.
Thanks to our Community Partners Fabian Lehner Jaroslaw Sarwa Elena Kozhemyakina Shmuel Ben Tovim Mario Cohen Narayanan Ganapathy Meriem Yacoubi Varsenia Stoyanova Aleksandra Ossowska Alfonso Ballesteros Ryohei Uetani Sofia Gamboa Vikas Bansal Shaul Lifshitz
1 comment