Crypto
Crypto-backed Michigan House incumbent loses primary despite $2M PAC support
A Midwest Democratic primary that raised accusations of payback from the cryptocurrency industry ended with the unseating of two-term incumbent Shri Thanedar.
Interactive Brokers (IBKR) Goes Dark During US Trading Hours
Many users of Interactive Brokers (NASDAQ: IBKR) reported difficulties accessing the broker's platform today (Wednesday), with posts on social media indicating login and connectivity issues during US trading hours.Finance Magnates independently verified the reported login issues after being unable t
Crypto
Western Union brings stablecoin remittances to Visa network with Stablecard
The remittance giant is rolling out Stablecard across 37 markets, targeting cross-border payments and consumers seeking US dollar-denominated savings in volatile economies.
Banking
Bank of America, USAA ink patent agreement
The deal allows each company to use the other’s full portfolio of patents. USAA for years has sued – or threatened court action against – banks it says infringe on its remote deposit capture patents.
Bank of America spends $250 million a year on GLP-1 drugs for its employees, CEO says
Employers have grappled with soaring demand for GLP-1 drugs such as Ozempic and Wegovy, which can cost thousands of dollars per patient annually.
Crypto
An AI data center firm just raised $25 million, but 90% of it vanishes in days to pay off one massive loan
Principal alone would absorb 89.5% of headline gross proceeds, while the warrant structure can add 11.7 million shares. The post An AI data center firm just raised $25 million, but 90% of it vanishes in days to pay off one massive loan appeared first on CryptoSlate.
BP’s New Boss Has a Message for Britain
In 2020, BP unveiled a “major, necessary step in support of our purpose to reimagine energy for people and our planet.” The new strategy – “performing while transforming” – would see the firm “significantly scale-up our low carbon energy business” as part of a commitment “to become a net zero compan
Spotex Connects Execution Venue to BitGo Custody and Settlement Network
Spotex has connected its institutional execution venue to BitGo’s custody, settlement and prime brokerage infrastructure, becoming the latest venue to plug into the custodian’s institutional rails. The integration lets eligible institutional clients trade Spotex’s digital asset liquidity while their
Crypto
Coldcard exploit could boost demand for regulated bitcoin exposure, analysts say
Fiserv and Stuut partner to bring agentic AI to enterprise receivables
Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology, today announced a strategic partnership with Stuut Technologies to help eligible enterprise finance teams modernize manual, fragmented B2B receivables processes where available.
UW Credit Union selects DNA from Fiserv
Fiserv, Inc. (NASDAQ: FISV), a global leader in payments and financial technology, today announced that UW Credit Union, one of the nation’s leading credit unions, has selected DNA from Fiserv as its future core processing platform.
Crypto
Circle Taps Visa, Mastercard and BlackRock as Validators for September Arc Launch
Circle's USDC distribution deal with Coinbase has been renewed on existing terms, and Arc's testnet has processed half a billion transactions.
Hormuz Draft Agreement Reportedly Awaits Khamenei Approval
Oil markets are awaiting a decision from Iran’s supreme leader after Iranian and Omani negotiators reportedly completed a draft agreement that could reopen the Strait of Hormuz, the main export route for Persian Gulf oil and LNG. Two regional officials briefed on the talks told the Associated Press
India Weighs Gas Levy to Bankroll $42 Billion Fuel Reserve Plan
Just a day after details emerged of India’s plans to expand strategic crude oil storage, new reports claim New Delhi is considering a new funding mechanism that would shift part of the cost of a far larger, $42-billion strategic fuel reserve program onto gas consumers. According to Business Standard
Disney weighs free, ad-supported streaming, says it has sold out Super Bowl ad spots
Disney is considering a free streaming product as advertising takes a bigger role in making streaming profitable.
Crypto
Eliza Founder Declares AI Token 'Dead,' Shuts Down Foundation After Lawsuit Settlement
Shaw Walters says Eliza's token is no more after a class-action settlement drained the project's remaining funds.
Crypto
How dumping 1,200 Bitcoin helped a cellular chipmaker completely erase its debt and double its cash
The chipmaker ended June with 314 unrestricted coins after sales helped erase convertible debt and lift cash to $21 million. The post How dumping 1,200 Bitcoin helped a cellular chipmaker completely erase its debt and double its cash appeared first on CryptoSlate.
Stablecoin firm Dakota applies for OCC trust banking charter
“For you, that means fewer layers between your product and the financial services underneath it,” Dakota CEO Ryan Bozarth said in a blog post.
Banking
Fed approves Santander-Webster deal
The $12.3 billion transaction – approved by the Fed 129 days after the application was filed – is expected to close Aug. 20, Santander said.
Crypto