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Apple Pay Celebrates 10 Years with New Rewards and Loan Options

Apple Pay Celebrates 10 Years with New Rewards and Loan Options

Apple has announced significant updates to Apple Pay as it celebrates a decade of the service. Starting today, users in the U.S. and U.K. can redeem rewards and access installment loans through partnerships with Klarna, Affirm, and Monzo Flex. Future expansions will include credit card loan options from Citi and Synchrony, and additional countries like Canada, Australia, and Spain will also see these features. Apple aims to replace physical wallets with digital alternatives, enhancing connectivity between consumers and their banking partners. Millions now utilize Apple Pay across 78 markets globally.

Created at: October 17, 2024 3:01pm

Hackers Extort Globe Life Over Stolen Customer Data

Hackers Extort Globe Life Over Stolen Customer Data

Globe Life, a major insurance provider, has reported being extorted by hackers who have stolen sensitive customer data. In a regulatory filing, the company disclosed that the compromised information includes names, addresses, and potentially Social Security numbers of approximately 5,000 individuals. The breach is linked to its American Income Life Insurance subsidiary, and the total number of affected customers could be much higher. The incident is classified as an extortion-only attack, with no financial data compromised. Globe Life has notified federal law enforcement about the situation.

Created at: October 17, 2024 3:01pm

UK Startup Farewill Acquired by Dignity for $16.8M

UK Startup Farewill Acquired by Dignity for $16.8M

Farewill, a digital end-of-life services startup based in the U.K., has been acquired by funeral service provider Dignity in a share deal valued at £12.9 million ($16.8 million). Founded in 2015, Farewill offers online tools for writing wills and organizing probate. This acquisition aims to enhance Dignity's digital transformation and expand its market share in the $190 billion death care sector. Despite recent growth in sales and revenue, Farewill reported operational losses of £4.2 million. The deal is pending regulatory approval and is expected to finalize by January 2025.

Created at: October 17, 2024 2:30pm

India's Central Bank Halts Navi's Loan Operations Amid Regulatory Issues

India's Central Bank Halts Navi's Loan Operations Amid Regulatory Issues

The Reserve Bank of India has ordered Navi Finserv, founded by Flipkart co-founder Sachin Bansal, to cease new loan disbursements starting October 21. Citing violations in interest rates and regulatory guidelines, the central bank emphasized the need for compliance in income assessment and asset classification. This decision follows multiple warnings regarding responsible lending practices. While existing customers can continue to receive services, Navi must implement corrective measures to resume lending. The move adds to Navi's challenges, including a previous rejection of its banking license application.

Created at: October 17, 2024 12:30pm

Accel Eyes $30M Investment in India's Truemeds, Valuation at $330M

Accel Eyes $30M Investment in India's Truemeds, Valuation at $330M

Accel is reportedly in advanced talks to lead a $30 million to $40 million funding round for Truemeds, an Indian online pharmacy aiming to provide affordable generic medications. Sources indicate a proposed valuation of approximately $330 million for the Mumbai-based startup. Truemeds distinguishes itself by eliminating middlemen in the supply chain, allowing direct access to generic options recommended by doctors. This funding could more than double its previous valuation of $132 million from last year. The online platform facilitates consultations and deliveries, reaching customers in remote areas.

Created at: October 17, 2024 5:30am

Y Combinator-Backed Fintech CapWay Shuts Down Amidst Challenges

Y Combinator-Backed Fintech CapWay Shuts Down Amidst Challenges

CapWay, a fintech startup backed by Y Combinator, has officially shut down, as confirmed by its founder, Sheena Allen. The company aimed to provide financial services to underserved communities, known as banking deserts. Allen expressed disappointment over the closure, citing a failed acquisition and the challenges within the fintech sector. Despite raising nearly $800,000, CapWay struggled to secure a banking partner amid heightened requirements and increased competition for funding, particularly affecting Black founders. Allen remains committed to financial inclusion and is exploring new entrepreneurial opportunities.

Created at: October 16, 2024 9:30pm

Online Gambling Expansion Faces Uncertainty Amid Job Loss and Addiction Concerns

Online Gambling Expansion Faces Uncertainty Amid Job Loss and Addiction Concerns

The online gambling industry is experiencing a slowdown as major states pause expansion plans due to fears of job losses and addiction. While states like Rhode Island embrace online casinos, Florida and New Hampshire are expected to join only within five years. Labor unions and land-based casino representatives have raised alarms about online gaming's impact on jobs. With significant revenues reported in states like New Jersey, the debate continues over whether online betting complements or competes with physical casinos. The future of online gambling remains uncertain amid social concerns and economic implications.

Created at: October 16, 2024 2:00pm

Trump's Crypto Venture Stumbles: World Liberty Financial's Token Sale Sees Only 2% Sold

Trump's Crypto Venture Stumbles: World Liberty Financial's Token Sale Sees Only 2% Sold

Donald Trump's World Liberty Financial faced significant challenges during its inaugural token sale, managing to sell only 2% of its 20 billion tokens. The platform's website crashed multiple times due to overwhelming traffic, reportedly receiving 72 million unique visits within the first hour. Despite hopes of selling over 523 million tokens, Etherscan data indicated that just 5,317 unique wallets held the token. The company has not yet registered with US authorities, limiting sales to American citizens. Trump's family is heavily involved, promoting the platform as a means to foster cryptocurrency growth.

Created at: October 16, 2024 2:00pm

Harry Stebbings' 20VC Secures $400M Fund to Boost European Startups

Harry Stebbings' 20VC Secures $400M Fund to Boost European Startups

Harry Stebbings, the UK podcaster turned venture capitalist, has successfully closed his largest fund yet, a $400 million investment vehicle aimed at supporting European startups. With a focus on seed and Series A investments, the fund will leverage Stebbings' media influence to shine a spotlight on the region's innovative companies. Despite challenging market conditions, this rapid fundraising reflects ongoing investor interest in Europe's startup ecosystem. Prominent backers include U.S. institutional investors, highlighting the transatlantic appeal of European ventures. Stebbings emphasizes the importance of finding exceptional founders to drive market success.

Created at: October 15, 2024 11:30am

Former Product Hunt CEO Josh Buckley Targets $250M Fundraise

Former Product Hunt CEO Josh Buckley Targets $250M Fundraise

Josh Buckley, ex-CEO of Product Hunt, is in the process of raising a $250 million fund for his venture capital firm, Buckley Ventures, as per a recent regulatory filing. This target is notably lower than his previous $500 million goal for the third fund, which netted $337 million amid a bearish VC market. Buckley, recognized for offering favorable terms to startups, faced challenges with some investments, including the failed logistics startup Airlift. He has not commented on this latest fundraising effort.

Created at: October 14, 2024 9:00pm

FTX to Return $12B to Creditors, Arkham Intelligence Launches Derivatives, and New Game 'CornBattles'

FTX to Return $12B to Creditors, Arkham Intelligence Launches Derivatives, and New Game 'CornBattles'

FTX is set to return $12 billion to its creditors following a court-approved payout plan, with the first $1 billion expected by December. This development signals a potential boost for the crypto industry, which has struggled since the exchange's collapse. Meanwhile, Arkham Intelligence, backed by OpenAI's Sam Altman, will launch crypto derivatives next month, expanding its offerings from blockchain data services. Additionally, the new crypto game 'CornBattles' has gained traction, attracting three million users with its unique blend of tactical gameplay and real-world rewards.

Created at: October 14, 2024 12:30pm

Table Space Targets $2.5B Valuation for Upcoming IPO in India

Table Space Targets $2.5B Valuation for Upcoming IPO in India

Table Space, an Indian managed workspace provider, is planning an IPO aimed at achieving a valuation of $2.5 billion or more next year. The startup, founded in 2017 and based in Bengaluru, has engaged Axis Securities as its bookrunner for the offering. Currently valued at approximately $550 million, Table Space operates over 60 centers across six cities, serving major corporations like Apple and Google. The company anticipates nearly doubling its real estate portfolio while projecting annual revenue to hit $600 million by March 2027, amid a robust demand for flexible office spaces in India.

Created at: October 14, 2024 8:30am

Rerail: A New Fintech-Focused Angel Fund Launched by Anthony Danon

Rerail: A New Fintech-Focused Angel Fund Launched by Anthony Danon

Anthony Danon, a seasoned investor in the fintech sector, has launched Rerail, a new angel fund aimed at early-stage fintech startups. With a target of $20 million, Rerail has already secured over $20.5 million in its first close. Danon, who has a decade of experience in venture capital, aims to invest between $200,000 and $500,000 per startup. He emphasizes a collaborative approach, leveraging his extensive network of founders and operators. This fund follows his separation from Cocoa, reflecting a sharper focus on fintech and related sectors globally.

Created at: October 14, 2024 7:00am

Arkham Intelligence Sets Launch Date for Crypto Derivatives, Token Surges 19%

Arkham Intelligence Sets Launch Date for Crypto Derivatives, Token Surges 19%

Arkham Intelligence has announced the launch date for its crypto derivatives, aiming to expand its operations and compete with major crypto exchanges. The startup, backed by OpenAI's Sam Altman, focuses on deanonymizing the crypto industry. The derivatives will target retail investors and are expected to launch next month. Following this news, Arkham's token, ARKM, increased by 14%, reaching $1.52, with a market cap of $344 million. Additionally, the company is relocating to the Dominican Republic to benefit from tax exemptions, while its derivatives will not be available in the U.S.

Created at: October 12, 2024 5:30am

FTX's Ryan Salame Finds Humor in Dark Times as He Begins Prison Sentence

FTX's Ryan Salame Finds Humor in Dark Times as He Begins Prison Sentence

Ryan Salame, the former co-CEO of FTX Digital Markets, has commenced his seven-and-a-half-year prison sentence for fraud. Prior to his incarceration, Salame took to LinkedIn to share a humorous post announcing his new role as an 'Inmate at FCI Cumberland.' His post included a whimsical cartoon of people dancing around a cupcake, showcasing an absurd attempt to cope with his situation through humor. This comes amid ongoing legal troubles for several FTX executives following the company's collapse.

Created at: October 10, 2024 8:30pm

Numeric Secures $28M Series A to Revolutionize Accounting with AI

Numeric Secures $28M Series A to Revolutionize Accounting with AI

Numeric, an innovative accounting software startup, has raised $28 million in a Series A funding round led by Menlo Ventures, following a $10 million seed round just five months prior. Founded by Parker Gilbert, Numeric automates the book-closing process, significantly reducing the time accountants spend on month-end tasks. The software integrates AI to analyze financial data, providing explanations for variances and improving accuracy. With a four-fold revenue increase over the last year, Numeric is set to disrupt the accounting software market dominated by established players. Investors see a strong potential for future product expansions.

Created at: October 10, 2024 4:30pm

Fidelity Reports Data Breach Affecting 77,000 Customers' Personal Information

Fidelity Reports Data Breach Affecting 77,000 Customers' Personal Information

Fidelity Investments has confirmed a data breach that compromised the personal information of 77,000 customers. The breach occurred between August 17 and August 19, when an unnamed third party accessed information using two newly established customer accounts. Fidelity detected the unauthorized access on August 19 and promptly terminated it, stating that customer accounts were not accessed. The exact types of compromised data remain unclear, and Fidelity has not provided additional details on its website. The firm currently serves over 51 million individual investors, managing approximately $14.1 trillion in total customer assets.

Created at: October 10, 2024 12:00pm

Star Health Confirms Data Breach Amid Cyberattack Claims

Star Health Confirms Data Breach Amid Cyberattack Claims

Star Health and Allied Insurance, a leading health insurer in India, has confirmed a data breach following a cyberattack that compromised sensitive customer information. Cybercriminals claimed to have posted health records of millions online, including personal details and medical reports. The company stated that operations remain unaffected while an independent forensic investigation is underway. Star Health is cooperating with regulatory authorities and has filed a lawsuit against Telegram and Cloudflare for hosting the hacker group's activities. The extent of the data breach and the hacker's methods remain unclear.

Created at: October 9, 2024 7:30pm

Palantir Acquires Nearly 9% Stake in Struggling EV Startup Faraday Future

Palantir Acquires Nearly 9% Stake in Struggling EV Startup Faraday Future

Palantir Technologies has secured an 8.7% stake in electric vehicle startup Faraday Future, as disclosed in a recent SEC filing. The data-mining firm received over 800,000 shares as part of a settlement for unpaid services dating back to 2021, valued at approximately $2.4 million. This ownership comes after Faraday Future's financial struggles, having only delivered a dozen cars. The companies previously partnered during Faraday's SPAC merger, but disputes over payments led to arbitration. A settlement was reached in March 2024, stipulating stock payments to Palantir.

Created at: October 9, 2024 5:00pm

FTX to Return $12B to Creditors, Boosting Crypto Market Liquidity

FTX to Return $12B to Creditors, Boosting Crypto Market Liquidity

FTX has received court approval for a payout plan to return up to $12 billion to its creditors. The repayment will occur gradually, with an initial disbursement expected by December, starting with $1.1 billion. This news is seen as a positive development for the struggling cryptocurrency market, potentially improving Bitcoin liquidity and overall market performance. The payout follows FTX's Chapter 11 bankruptcy and allegations of fraud against its former CEO, Sam Bankman-Fried. Analysts believe the return of funds will significantly benefit both creditors and the wider crypto industry.

Created at: October 9, 2024 1:31pm

Billionaire Robinhood Co-Founder Launches Aetherflux, A Revolutionary Space Solar Power Startup

Billionaire Robinhood Co-Founder Launches Aetherflux, A Revolutionary Space Solar Power Startup

Aetherflux, founded by Robinhood co-founder Baiju Bhatt, aims to transform space-based solar energy by creating a constellation of satellites in low Earth orbit. These satellites will feature solar arrays and infrared lasers to transmit energy back to Earth. Bhatt, who has invested millions into the startup, envisions powering small neighborhoods with this technology. The first demonstration mission is planned for late 2025 or early 2026, with hopes of proving the viability of this innovative approach to solar power. Aetherflux could redefine energy transmission on a global scale.

Created at: October 9, 2024 1:30pm

LoanSnap's License Revoked in Connecticut Amid Legal Troubles

LoanSnap's License Revoked in Connecticut Amid Legal Troubles

LoanSnap, an AI mortgage startup, has lost its operating license in Connecticut after violating a prior consent order with the state's Department of Banking. An investigation revealed multiple breaches of state law, including failure to file a change of address and disclose default judgments against the company. This action follows a series of lawsuits that plagued the startup, which originated just 42 loans in 2023 amid rising interest rates, a stark decline from nearly 1,300 loans valued at $500 million in 2021. LoanSnap's founders have not commented on the situation.

Created at: October 8, 2024 7:30pm

North American Robotics Sales Experience Significant Decline in H1 2024

North American Robotics Sales Experience Significant Decline in H1 2024

The North American robotics market faced a downturn in the first half of 2024, with industrial robotics orders dropping by 7.5% year-over-year to 15,705 units and revenue falling 6.8% to $982.83 million. This decline is attributed to macroeconomic challenges, including rising inflation and increased borrowing costs, which have led companies to postpone major investments. While the automotive sector showed mixed results, life sciences and food industries experienced notable sales increases. A3 President Jeff Burnstein remains optimistic about the future, emphasizing the ongoing demand for operational efficiency and automation.

Created at: October 8, 2024 6:30pm

Fisker's Bankruptcy Faces Major Setback Amid Fleet Sale Uncertainties

Fisker's Bankruptcy Faces Major Setback Amid Fleet Sale Uncertainties

Fisker's Chapter 11 bankruptcy has encountered a significant obstacle, as American Lease, the company set to purchase its electric SUV fleet, raises concerns over a technical issue preventing data transfer. The leasing firm claims it was informed that Fisker cannot transfer essential vehicle information needed for operations after bankruptcy. This revelation comes after American Lease paid tens of millions to Fisker, crucial for its ongoing bankruptcy proceedings. As multiple parties file objections, including the SEC and DOJ, the situation complicates Fisker's liquidation plan, with a court hearing imminent.

Created at: October 8, 2024 4:00pm

Starlink Provides Free Satellite Internet to Hurricane Helene Victims in Partnership with Biden Administration

Starlink Provides Free Satellite Internet to Hurricane Helene Victims in Partnership with Biden Administration

Starlink, led by Elon Musk, has announced it will provide free satellite internet access to victims of Hurricane Helene. In collaboration with the Biden Administration, the company will dispatch over 500 internet kits to the severely affected Appalachia region. This initiative aims to assist those impacted by the disaster, allowing them to connect and seek help. Previously, Starlink has offered similar support in war-torn areas like Ukraine and Gaza. The service will remain free for 30 days, ensuring critical communication during the recovery phase.

Created at: October 8, 2024 8:30am

SEC Appeals Ripple's $125M Fine, Sparks Market Concerns

SEC Appeals Ripple's $125M Fine, Sparks Market Concerns

The US Securities and Exchange Commission (SEC) is appealing a federal court's decision that fined Ripple Labs $125 million for fraud, deeming it insufficient. SEC Chair Gary Gensler's agency had originally sought a $2 billion penalty for Ripple's alleged sale of unregistered securities. Following the announcement, Ripple's XRP cryptocurrency plummeted by 11%. Ripple's CEO, Brad Garlinghouse, criticized the SEC, claiming the agency's actions harm investor protection and its own credibility. Ripple is contemplating a cross-appeal in response to the SEC's continued litigation efforts.

Created at: October 8, 2024 8:28am

Trump Launches World Liberty Financial Amid SEC Scrutiny on Ripple

Trump Launches World Liberty Financial Amid SEC Scrutiny on Ripple

Donald Trump has officially launched his cryptocurrency platform, World Liberty Financial, offering a whitelist to investors amid ongoing scrutiny in the crypto market. The SEC has filed an appeal against Ripple Labs, contesting a recent settlement and claiming the company sold unregistered securities. Trump portrays WLFI as a financial revolution aimed at empowering everyday Americans against big banks. Meanwhile, the top cryptocurrencies have faced slight declines, with XRP experiencing a 15.25% drop. Despite these challenges, Ripple's CEO remains defiant, emphasizing the court's classification of XRP as a non-security.

Created at: October 8, 2024 8:27am

Impulse Space Secures $150M Funding and Major Space Force Contract

Impulse Space Secures $150M Funding and Major Space Force Contract

Impulse Space, a startup founded by ex-SpaceX CTO Tom Mueller, has announced a successful $150 million Series B funding round and a $34.5 million contract with the U.S. Space Force for two spacecraft missions. The company focuses on developing orbital transfer vehicles (OTVs) equipped with advanced chemical propulsion systems to enhance satellite maneuverability in space. This funding solidifies Impulse's position in the rapidly evolving space operations sector, which aims for more dynamic and responsive capabilities than current technologies allow.

Created at: October 8, 2024 8:22am

Emma Watson Boosts Women's Health with $14 Million Investment in Hertility

Emma Watson Boosts Women's Health with $14 Million Investment in Hertility

Actress Emma Watson has invested in Hertility, a women’s health startup, raising its total funding to over $14 million. Watson, a UN Women Goodwill ambassador, was introduced to the company by an investor who recognized her commitment to women's rights. Hertility, co-founded by Dr. Helen O’Neill, focuses on personalized reproductive health services. The investment aims to address significant gaps in women's healthcare, particularly in the U.K., where wait times are extensive. The funding comes amid a growing push for better access to women's health solutions globally.

Created at: October 8, 2024 8:20am

MoneyGram Cyberattack: Hackers Steal Customer Data in Major Breach

MoneyGram Cyberattack: Hackers Steal Customer Data in Major Breach

MoneyGram has confirmed that hackers accessed and stole customers' personal information and transaction data following a cyberattack on September 20. The breach resulted in a week-long outage, affecting the company's website and app. The compromised data includes names, addresses, phone numbers, dates of birth, and even some Social Security numbers. MoneyGram is currently investigating the extent of the breach, though it has not specified how many customers are impacted. The incident has been reported to U.K. data protection regulators as required by law.

Created at: October 8, 2024 8:19am