Michael Roddan

The U.S government conditionally approved a bank charter application for Erebor Bank, a cryptocurrency-focused bank co-founded earlier this year by Anduril co-founder Palmer Luckey and Palantir co-founder Joe Lonsdale. The Office of the Comptroller of the Currency on Wednesday said it granted conditional approval to the national bank charter application for Erebor. “Today’s decision is also

The Trump family has partnered with a father-son duo with a history of run-ins with financial regulators for a deal to sell $1.5 billion of its crypto tokens. A biotech turned crypto company called Alt5 Sigma will sell $1.5 billion of stock and use the money to buy the crypto token created by ...

On President Donald Trump’s last day of his first term, in 2021, he pardoned Michael Liberty, a real estate developer and tech entrepreneur who had served jail time for illegal campaign contributions and was facing new federal criminal and civil charges. The pardon may pay dividends for the ...

The Consumer Financial Protection Bureau said it will fast-track a new rule governing access to consumer financial data, weeks after JPMorgan unveiled new data-access fees that threw the fintech industry into turmoil. On Tuesday, the CFPB intervened in a lawsuit the banking industry had launched against a regulation, known as the open banking rule, which gives consumers, not banks, ownership

An array of billionaire backers and the dream of two world-changing technologies has turned SandboxAQ into a $5.6 billion startup star. The company’s business has failed to keep up with the hype, and its CEO’s behavior is now under scrutiny. SandboxAQ’s success so far is illusory. Nearly all of ...

Eric Trump is raising money to build what he predicts will be the world’s largest bitcoin-mining company. He’s teamed up with bitcoin miner Hut 8 to build the computing power he needs. “They can get projects done, you know, in half the time of other, you know, builders,” Trump said, announcing ...

Global payroll startup Deel is bolstering its governance and ending some of its unusual practices as it fights accusations in a lawsuit that its CEO and board chair recruited and paid a corporate spy at its archrival, Rippling. Deel is moving its official corporate headquarters from its current ...

Rippling has raised $450 million in a round valuing the payroll company at $16.8 billion including the investment, bringing in new investors Goldman Sachs, Singaporean sovereign wealth fund GIC and Sands Capital, the company announced on Friday. The Series G financing boosted Rippling’s valuation from $13.5 billion achieved in a financing last year, increasing its lead by this measure over

It’s easier than ever to spy on a rival company. It’s also easier than ever to catch a spy. The result is a surge in spy-versus-spy lawsuits in the fintech industry, one of the most cutthroat in Silicon Valley.

Deel, the fintech software company accused of spying on archrival Rippling, hit back with a lawsuit that claims the spy that Deel allegedly paid was actually a whistleblower trying to bring to light wrongdoing by Rippling. Deel’s lawsuit, filed in the superior court of Delaware on Thursday, claims that Rippling has defamed Deel and interfered with its business by making false and misleading

Fast-growing fintech company Deel, frustrated it was falling behind serving crypto trading firms, teamed with a crypto compliance firm to catch up. That company, LiquiFi, was later accused of using stolen data to speed the project. LiquiFi was accused in a lawsuit launched by rival Toku late last year. Deel was not accused of wrongdoing or having any knowledge of allegedly stolen data being

Philippe Bouaziz has always expected his only son to fight—and to fight alongside him. He made his hope plainly apparent on the day he chose his son’s name: Alexandre, a deliberate homage to Alexander the Great, the ancient Macedonian conqueror, Philippe has told people with evident pride. The ...

The sudden rise of DeepSeek represents an opportunity for banks and financial firms to access a low-cost but still sophisticated artificial intelligence model—if only it wasn’t from China. Geopolitical tensions between Washington and Beijing, along with perceived security risks posed by the ...

The seemingly mundane world of human resources management startups is not the place you’d expect to see cutthroat corporate blood sport, battles linked to global geopolitics, and questions about whether companies took on the wrong customers to boost growth. But Deel and Rippling are hardly ...

JPMorgan Chase’s $917 million investment in a Greek fintech company has gone so wrong that the bank last year offered to sell back half of its stake at a valuation of $175 million. The fintech, Viva Wallet, didn’t take the offer. JPMorgan responded with a lawsuit that accused Viva’s founder of ...

Fast-growing human resources and payroll startup Deel has been dragged into a dispute involving a Florida Ponzi scheme, in the latest legal action connecting the firm to fraudulent or illegal movement of money. In a lawsuit filed in federal court in Florida last week, Deel was accused of ...

The Department of Justice and the Federal Trade Commission have expanded a lawsuit alleging banking fintech Dave misled customers and charged hidden fees, adding the company’s CEO Jason Wilk as a defendant. The lawsuit, filed on Monday, said Dave misled customers by charging hidden fees and making it difficult for users to cancel monthly “tips” they pay to access cash advances. The lawsuit

Fintech banking startup Chime Financial has filed confidential paperwork for an initial public offering, Bloomberg reported. Chime declined to comment. The company, which has long been planning to go public next year, offers fee-free digital banking sources. The company was valued at $25 billion during the 2021 venture funding boom, although it more recently was valued at $9.5 billion in the

Last year, the board of now-collapsed fintech startup Synapse Financial Technologies discussed whether to remove the company’s CEO, Sankaet Pathak. At the time, discrepancies in Synapse’s ledgers were piling up, which the board was aware of. Andreessen Horowitz General Partner Angela Strange ...

In just two years, Chinese-owned Temu has come out of nowhere to become one of the best-known bargain shopping sites, known for its ultracheap and sometimes wacky gadgets and apparel. U.S. consumers are expected to spend about $18 billion on the site this year. Behind the scenes, though, Temu ...