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The criminal tribulation against 32 - year - old fintech inauguration laminitis Charlie Javicebegan on February 21 , with lawyers laying out their orifice arguments . On one side , JPMorgan Chasealleges that Javice help “ phoney jillion of customer to induce the coin bank to corrupt her fellowship , ” student financial planning aid startupFrank , for $ 175 million . For her part , Javice exact that the financial service giant had “ vendee ’s self-reproach ” due to a government change in the way financial help forms are satisfy out . Her lawyer say alleging fraudulence was a room to get out of the bargain . We ’ll of row be glued to this trial and whether jurywoman will find in party favour of Javice or JPMorgan , or something in between .
Dollars and cents
FintechVarohas been hoping to raise a $ 55 million Series G round but has so farclosed on $ 29 million to escort , according to a late SEC filing . The close comes shortly after the digital bank ’s founding father Colin Walsh announce he was stepping down from his role as chief executive officer , withGavin Michael replacing him .
Crypto exchangeBybitannounced on February 21 that “ a sophisticated attack ” led to the theft of Ethereum ( ETH ) from one of the ship’s company ’s offline wallet . Bybit ’s master executive director and co - laminitis Ben Zhou said in a livestream thatthe hacker stole around 401,346 ETH , which at the meter of the theft amounted to about $ 1.4 billion .
Coinbaseon February 21 said the SEC hasagreed to drop the lawsuitagainst the fellowship with preconception , think of it can not be file again . The move , which is still dependent to the approval of the SEC ’s commissioners , is yet another signaling that the Trump administration plan to be more friendly to crypto than the SEC was under former leader Gary Gensler . Days after , Robinhoodsaid that the SEC hasclosed its investigationinto Robinhood ’s crypto unit of measurement and will not pursue action .
Judging by our inboxes , there is no shortage of speculation capitalist still betting big on the fintech space . Hereis a list of just a few VCs who remain bullish on fintech . Note : This is an ongoing list that will be updated over sentence .
Dubai - basedMansa , whose oblation allows payments company , mainly in Africa to date , to sink transactions and fund customer accounts instantly , hasraised $ 10 million in seed funding , including both equity and debt . Stablecoin provider Tether led the $ 3 million fairness investment .
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