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The Justice Department is reportedly investigating the data breach announced last week by Coinbase Global.
Coinbase Chief Legal Officer Paul Grewal told Bloomberg in a report posted Monday (May 19): “We have notified and are working with the DOJ and other U.S. and international law enforcement agencies and welcome law enforcement’s pursuit of criminal charges against these bad actors.”
The...
Stablecoin issuer Circle denied a Monday (May 19) media report that it was in informal talks about a potential sale to Coinbase Global or Ripple while still pursuing the initial public offering (IPO) it filed in April.
In a statement provided to PYMNTS, a Circle spokesperson said: “Circle is not for sale. Our long-term goals remain the same.”
Seeking Alpha had reported Monday, citing a paywalled...
Artificial intelligence (AI) model training and inference are two terms that are thrown about when talking about the technology. But they are two distinct stages of AI development — a differentiation that would benefit businesses to understand.
AI training is the process of teaching a machine learning model to recognize patterns by feeding it large amounts of data. Think of it as the learning...
JPMorgan Chase CEO Jamie Dimon said Monday (May 19) that the bank now offers its clients access to bitcoin.
Dimon announced this at the bank’s annual investor day, while reiterating his own skepticism about digital currency, CNBC reported Monday.
“We are going to allow you to buy it,” Dimon said, per the report. “We’re not going to custody it. We’re going to put it in statements for clients.”...
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...