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Crypto exchanges are rapidly evolving into digital-age banks, amassing vast troves of customer data and assets — but without the regulatory muscle or hardened security infrastructure of traditional finance.
A recent breach at Coinbase, exposing sensitive user information through a social engineering attack, underscores the growing risk posed by centralized crypto platforms as they scale into...
JPMorgan Chase...
Uber reportedly plans to launch a B2B logistics service in India.
The company will do so “soon” in partnership with an Indian government-backed nonprofit, the Open Network for Digital Commerce (ONDC), TechCrunch reported Monday (May 19). Uber did not disclose a timeline, according to the report.
Uber did not immediately reply to PYMNTS’ request for comment.
The ONDC aims to expand digital...
The Bank of England is reportedly looking to ease its “ringfencing” rules for British lenders.
As the Financial Times (FT) reported Monday (May 19), this effort is happening as the central bank (BoE) is facing calls to abandon those regulations altogether.
The ringfencing rules require British banks to keep their retail operations separate from other, potentially riskier, activities.
Sam Woods,...
Binance and Kraken were reportedly targeted in a social engineering cyberattack.
As Bloomberg News reported Friday (May 16), the hacking attempts were similar to the one revealed last week by fellow cryptocurrency exchange Coinbase.
Sources told Bloomberg both Binance and Kraken were able to repel the attacks without customer data being compromised. PYMNTS has contacted both companies for comment...
Capital One will reportedly pay $425 million to settle a lawsuit accusing it of cheating savings account depositors.
That’s according to a report by Reuters on Friday (May 16), citing court documents. The proposed settlement comes amid similar litigation against Capital One by New York State, and as the banking giant finalizes its merger with Discover.
Customers had sued Capital One, accusing the...
He’s got a wallet thicker than a FinTech unicorn’s pitch deck, a portfolio more diversified than a payments processor’s API, and a love for all things money that borders on the obsessive. So, what on Earth do you get the dad who’s already cornered the market on cufflinks and commemorative coins?
Father’s Day is upon us, and for those with dads whose hearts beat to the rhythm of the closing bell,...
The Federal Reserve plans to cut its workforce by about 10% “over the next couple of years” amid a periodic review of its staffing levels, Federal Reserve Chair Jerome Powell told Fed staff in a memo obtained by PYMNTS.
In the memo, Powell said offers of voluntary deferred resignations to some Board staff will be part of the reduction.
“I have directed the leadership of the Federal Reserve, here...
Anthropic received a $2.5 billion, five-year revolving credit facility earlier this week to pay for upfront costs as demand for artificial intelligence ratchets up.
The credit facility adds to Anthropic’s momentum following its March funding round, which valued the company at $61.5 billion, CNBC reported Friday (May 16). The funding will support the company’s rapid expansion and efforts to...
Walmart is gearing up for a shift in consumer behavior as artificial intelligence begins to take a more active role in how people shop.
The retail giant is exploring how to make its products not only attractive to human buyers but also to autonomous AI agents that may soon handle shopping tasks on behalf of consumers, The Wall Street Journal (WSJ) reported Thursday (May 15).
These AI-powered bots...