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Wednesday, December 2, 2020
Square has announced that it is utilizing some of its corporate cash to purchase 4,709 bitcoins, which is equivalent to about $50 million. The new acquisition represents nearly one percent of the payment processor’s total assets as of the second quarter this year. “Square...
Citigroup edged out Alliance Data Systems to offer a set of new credit cards with Wayfair. The move comes as e-commerce has taken off since COVID-19 cases exploded in the U.S., forcing Americans to shop and work from home. Online sales have been robust as fewer people...
The finance industry is witnessing a changing of the guard, and major banks have a lot of catching up to do. Two months ago, Paypal’s market cap exceeded that of Bank of America’s, the second-largest bank in the U.S., by market cap. When that happened, the pioneer...
On Friday, Apple announced that it was terminating Epic Games’ developer account. The move means that Epic will no longer be able to make apps for Apple’s iPhone, Mac, or iPad. However, an account associated with Unreal Engine won’t be impacted by the move. Unreal Engine is...
Some of the major cinemas began to reopen this weekend and plan to be fully reopened by Labor Day weekend after a five-month hiatus. AMC, Regal, Cinemark, Marcus Theaters and Southern Theaters all shut their doors early in the pandemic amid rising coronavirus cases in many areas...
The largest bank in the U.S. is set to get even bigger. JPMorgan Chase is partnering with Marqeta, an innovative credit card issuing platform and processor based out of the Bay Area. The collaboration will help launch a virtual credit card product for commercial users.
Pittsburgh startup, Argo Al, announced this week that German automaker, Volkswagen, closed its $2.6 billion deal with them. Part of the transaction consisted of $1 billion cash. Argo will also take over Volkswagen’s self-driving enterprise in Europe, which has a value of $1.6 billion. The European unit...
SoFi, a startup investment and personal finance company, has entered into an acquisition agreement with Galileo. Galileo is a Salt Lake City-based Fintech payment processing company that has issued more than 100 million accounts on behalf of its small business and commercial users. SoFi will pay $1.2...
The coronavirus is the most significant threat to the travel industry since the 911 terrorist attacks in 2001. As expected by many, the coronavirus is causing airlines to cuts flights and stop hiring for the time being. Both Delta and American Airlines...
Fintech company LendingClub has struck a deal to buy Radius Bank, a Massachusetts-based virtual bank. In 2014, LendingClub had the largest initial public offering in the U.S. for a tech-based company. Then, it had an $8.5 billion valuation. However, in 2016, the company...