Financial Services

The scale of FTX’s bankruptcy has placed it among the biggest bankruptcies in financial services history, where it sits fourth behind only WorldCom, Enron, and Lehman Brothers. However, there’s a chance of an even bigger disaster if Tether goes down.

LevelField’s acquisition of an FDIC-insured bank likely won’t be enough to harmonize digital and traditional assets.

The funding round shows there are opportunities for fintechs serving North Africa’s substantial underbanked population.

Challenger banks that cut costs and prioritize lucrative revenue streams are carving out the profits that still elude most.

Higher rates and the risk of increased defaults are hurting their business. They’re also losing market share to specialized fintechs.

Just as the tech blows up in banking, UK startup Evident has created a non-biased index that scores banks on AI development and implementation.