71 stories from 9 sources
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Bitget recorded about $463 million in net outflows in the 24 hours before Tuesday, as it began restoring withdrawals after a $388 million hack. The outflow was the largest one-day total recorded by DeFiLlama since it began tracking proof-of-reserves data four years ago.
11:55 AMPYMNTS
The Sixth Circuit Court of Appeals ruled that sports event contracts offered by Kalshi are not federally regulated swaps and that states can enforce their gambling laws against the platform. The unanimous decision sided with Ohio and Tennessee, giving states another legal basis to challenge sports prediction markets.
10:50 AMPYMNTS
Robinhood is making AI trading agents available to millions of users. Customers can choose between models from OpenAI and Anthropic to assist with investing decisions.
7:00 PMFortune
Jeeves raised $110 million to scale its stablecoin-native banking platform for global enterprises. The company is building on its existing corporate card and expense management business.
2:26 PMFinextraJeeves raised $110 million from investors including Andreessen Horowitz and Coinbase to expand its fintech products. The plans include a stablecoin wallet, AI agents and instant payouts across more countries.
10:00 AMBloomberg MarketsVolante Technologies is partnering with Circle to help financial institutions add USDC-based payment and settlement capabilities to their existing operations.
8:01 PMFinextra
Banks urged the Office of the Comptroller of the Currency to place greater emphasis on testing the risk controls of nonbank applicants seeking payment stablecoin issuer approval. The comments concern application requirements established under the GENIUS framework.
11:45 AMPYMNTSMorgan Stanley has created a Digital Asset Lab to test stablecoins, tokenization and decentralized finance applications. The bank is examining how blockchain-based systems could support its broader business.
7:00 AMBloomberg MarketsValley National Bank has agreed to acquire Bluevine, a digital banking platform for small and medium-sized businesses, for approximately $340 million in cash and stock.
8:01 PMFinextraSummary
Bitget recorded about $463 million in net outflows in the 24 hours before Tuesday, as it began restoring withdrawals after a $388 million hack. The outflow was the largest one-day total recorded by DeFiLlama since it began tracking proof-of-reserves data four years ago.
The decisive fact is that withdrawals exceeded the stolen amount, showing that the hack triggered
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
The incident shows how a crypto hack can become a liquidity crisis when customers doubt an exchange's ability to safeguard funds.
Summary
The Sixth Circuit Court of Appeals ruled that sports event contracts offered by Kalshi are not federally regulated swaps and that states can enforce their gambling laws against the platform. The unanimous decision sided with Ohio and Tennessee, giving states another legal basis to challenge sports prediction markets.
The ruling strengthens state authority over sports prediction contracts and creates another obstacle for Kalshi's
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
The decision threatens the assumption that federal market regulation can shield prediction platforms from state gambling restrictions.
Summary
Robinhood is making AI trading agents available to millions of users. Customers can choose between models from OpenAI and Anthropic to assist with investing decisions.
The decisive change is distribution: AI trading tools are moving from specialist platforms into a
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
Putting autonomous or semi-autonomous advice inside a mainstream brokerage could change investor behavior faster than regulators can define the rules.
Summary
Jeeves raised $110 million to scale its stablecoin-native banking platform for global enterprises. The company is building on its existing corporate card and expense management business.
The round shifts Jeeves' growth strategy toward stablecoin-based financial infrastructure for multinational companies. Success will
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
The financing signals growing investor interest in stablecoins as an enterprise payments and banking layer.
Summary
Jeeves raised $110 million from investors including Andreessen Horowitz and Coinbase to expand its fintech products. The plans include a stablecoin wallet, AI agents and instant payouts across more countries.
The decisive shift is Jeeves putting crypto infrastructure at the center of its next expansion
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
The round signals continued investor appetite for fintech companies that connect global payments with stablecoins and AI.
Summary
Volante Technologies is partnering with Circle to help financial institutions add USDC-based payment and settlement capabilities to their existing operations.
The partnership shifts stablecoin adoption from experimentation toward integration with bank payment infrastructure. Banks can
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
Stablecoins will scale through infrastructure partnerships that make them compatible with existing bank workflows, not through standalone crypto products.
Summary
Banks urged the Office of the Comptroller of the Currency to place greater emphasis on testing the risk controls of nonbank applicants seeking payment stablecoin issuer approval. The comments concern application requirements established under the GENIUS framework.
Banks are seeking comparable scrutiny for nonbank issuers, especially around reserves, operational resilience, compliance, and
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
The application process will help determine whether stablecoin regulation creates a level playing field or advantages incumbent banks.
Summary
Morgan Stanley has created a Digital Asset Lab to test stablecoins, tokenization and decentralized finance applications. The bank is examining how blockchain-based systems could support its broader business.
Morgan Stanley is moving digital assets from exploratory research toward controlled testing inside a major
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
A major bank is treating blockchain infrastructure as a potential operating model, not only an investment category.
Summary
Valley National Bank has agreed to acquire Bluevine, a digital banking platform for small and medium-sized businesses, for approximately $340 million in cash and stock.
The acquisition gives Valley a ready-made digital SME platform instead of building one internally, while
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
Bank fintech M&A is becoming a way for regional lenders to close technology gaps and compete for small-business deposits and payments.
A curated list of other prominent stories from this day.
Robinhood plans to offer 24-hour weekend trading in selected US stocks, alongside products tied to corporate earnings and perpetual futures. The expansion follows a broader industry push to extend market access beyond traditional exchange hours.
10:12 PMEconomic TimesAI-native startup Elio Mortgage has launched with $5.1 million in pre-seed funding. Motive Partners and Social Leverage led the round.
8:01 PMFinextraA Mastercard report says most internationally active small and medium-sized businesses plan to change their cross-border payment provider within the next two years.
8:01 PMFinextraDiscussion at Sibos is focusing on how banks can interoperate with emerging payment rails and what monetary sovereignty means in a digital financial system with multiple networks.
8:00 PMFinextra
Citi now lets bank clients reach multiple cross-border instant payment markets through one account structure and a single connection to Swift. The service removes the need for separate local banking relationships, bilateral agreements, and local technical infrastructure.
7:05 PMPYMNTS
Coinbase is entering the Pokémon Trading Card Game trend with a digital platform for opening packs.
4:51 PMIGN
Outgoing SEC Commissioner Hester Peirce said that wider consumer use of cryptocurrency under newly implemented rules could make those rules difficult to reverse. She argued that adoption would create political and market pressure to preserve the technology's place in the financial system.
3:41 PMPYMNTS
Toast launched Toast Fuel, a platform for convenience stores and gas stations that combines in-store retail, food service and at-the-pump fuel payments. The product extends Toast's operating model beyond restaurants into a broader convenience retail market.
3:03 PMPYMNTSBankPro, a private digital bank headquartered in The Bahamas, selected Thredd to run its physical and virtual debit and credit card programmes. The partnership gives BankPro access to Thredd's issuer-processing platform for launching and managing its card products.
2:57 PMFinextraMastercard is partnering with the Mojaloop Foundation and AfricaNenda Foundation to support trusted and inclusive payment infrastructure across Africa. The collaboration targets countries that are upgrading their digital and interoperable payment systems.
2:40 PMFinextra
Intuit’s QuickBooks connector is now available through Meta’s Muse AI assistant. It lets small businesses connect conversations with financial tools, insights, and actions inside the assistant.
2:03 PMPYMNTSBanks are moving from AI copilots that assist employees toward purpose-built systems that can execute parts of financial workflows autonomously. Executives from Google and major banks discussed how these systems could be deployed in areas such as finance, treasury, liquidity, and corporate banking.
2:00 PMFinextra
Finastra launched Repair Recommendations, an AI capability within its cloud-based OperatorAssist platform. The tool is designed to identify payment-processing problems and recommend fixes for bank operations teams.
12:03 PMPYMNTS
Elio Mortgage launched with $5.1 million in preseed funding led by Motive Partners and Social Leverage. The company plans to pursue nationwide licensing and hire loan officers.
11:17 AMHousing Wire
CoinSwitch reported Adjusted EBITDA profitability in FY26 after revenue rose 150% to Rs 324.19 crore. Its Adjusted EBITDA margin reached 27% as operating costs grew 37%, while the platform expanded its user base to more than 2 crore and supports over 450 digital assets.
9:54 AMEconomic Times
Rocket Mortgage will adopt VantageScore 4.0 as its default credit model after a four-month test involving 1.4 million credit reports. The company said the model helped some borrowers qualify and improved pricing outcomes.
9:48 AMHousing WireCoinbase Ventures and CMCC Global closed a strategic funding round with Raven, an institutional market maker focused on prediction markets. Raven supplies continuous buy and sell orders for prediction-market contracts.
9:05 AMCNBCPolymarket hired Lisa Mantil, a nearly 30-year Goldman Sachs veteran, to help attract institutional traders to its prediction market.
8:00 AMCNBC
Bitcoin has risen roughly 750% since Warren Buffett labeled it "rat poison squared" in 2018, reaching above $126,000 as institutional participation and investor demand expanded. Its sharp subsequent correction also underscores why Buffett remained wary of an asset with extreme volatility and no conventional cash flows.
4:22 AMEconomic TimesBrazil-based Nubank has considered moving its legal domicile to the City as part of a potential £10bn takeover of Monzo. The proposal would connect one of Britain's largest digital banks with a major Latin American fintech.
12:00 AMFinancial TimesSummary
Robinhood plans to offer 24-hour weekend trading in selected US stocks, alongside products tied to corporate earnings and perpetual futures. The expansion follows a broader industry push to extend market access beyond traditional exchange hours.
Robinhood is turning continuous access into a core retail-investing feature, putting pressure on rivals and
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
Longer trading hours could reshape when and how retail investors trade while widening exposure to fast-moving, higher-risk products.
Summary
AI-native startup Elio Mortgage has launched with $5.1 million in pre-seed funding. Motive Partners and Social Leverage led the round.
Elio enters the mortgage market with unusually strong early backing for a pre-seed company. The
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
The deal signals continued investor appetite for applying AI to large, inefficient financial workflows, including mortgage lending.
Summary
A Mastercard report says most internationally active small and medium-sized businesses plan to change their cross-border payment provider within the next two years.
The expected switching points to dissatisfaction with incumbent bank pricing, speed, or transparency in international
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
SME payment churn gives fintechs a direct route into business banking and raises the competitive stakes in cross-border infrastructure.
Summary
Discussion at Sibos is focusing on how banks can interoperate with emerging payment rails and what monetary sovereignty means in a digital financial system with multiple networks.
Interoperability is becoming a policy issue, not just a technical one, because payment rails shape
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
The move toward multiple payment rails could expand choice while weakening the ability of any single jurisdiction or network to control financial flows.
Summary
Citi now lets bank clients reach multiple cross-border instant payment markets through one account structure and a single connection to Swift. The service removes the need for separate local banking relationships, bilateral agreements, and local technical infrastructure.
Citi is centralizing access to fragmented instant payment markets, reducing the operational burden of building
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
A single integration can make instant international payments more scalable, but it may also increase reliance on major global banks for access to local rails.
Summary
Coinbase is entering the Pokémon Trading Card Game trend with a digital platform for opening packs.
The launch extends Coinbase's consumer strategy beyond conventional trading by attaching digital asset infrastructure to
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
Coinbase is testing whether mainstream collectibles can bring new users into digital ownership and broaden crypto's consumer use cases.
Summary
Outgoing SEC Commissioner Hester Peirce said that wider consumer use of cryptocurrency under newly implemented rules could make those rules difficult to reverse. She argued that adoption would create political and market pressure to preserve the technology's place in the financial system.
Peirce's argument treats adoption as a regulatory ratchet: once customers and businesses build around compliant
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
Crypto regulation may become harder to unwind once compliant products gain ordinary users and commercial dependencies.
Summary
Toast launched Toast Fuel, a platform for convenience stores and gas stations that combines in-store retail, food service and at-the-pump fuel payments. The product extends Toast's operating model beyond restaurants into a broader convenience retail market.
Toast is using payments and point-of-sale integration to enter a sector where operators manage multiple
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
Toast is turning its restaurant technology base into a broader vertical-platform strategy centered on payments and operational data.
Summary
BankPro, a private digital bank headquartered in The Bahamas, selected Thredd to run its physical and virtual debit and credit card programmes. The partnership gives BankPro access to Thredd's issuer-processing platform for launching and managing its card products.
BankPro is outsourcing a critical layer of card infrastructure instead of building issuer processing internally.
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
Issuer processors are becoming strategic growth infrastructure for digital banks entering or expanding in cards.
2 stories · 2 sources
Summary
Mastercard is partnering with the Mojaloop Foundation and AfricaNenda Foundation to support trusted and inclusive payment infrastructure across Africa. The collaboration targets countries that are upgrading their digital and interoperable payment systems.
The partnership places Mastercard alongside open and public-interest payment infrastructure efforts rather than relying only
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
Africa's payment buildout is becoming a contest over shared infrastructure, not just card-network expansion.
Summary
Intuit’s QuickBooks connector is now available through Meta’s Muse AI assistant. It lets small businesses connect conversations with financial tools, insights, and actions inside the assistant.
The partnership gives Meta a path from general-purpose assistance into useful business workflows, while Intuit
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
Embedding QuickBooks in Muse shows how AI assistants can become distribution channels for financial software and small-business services.
Summary
Banks are moving from AI copilots that assist employees toward purpose-built systems that can execute parts of financial workflows autonomously. Executives from Google and major banks discussed how these systems could be deployed in areas such as finance, treasury, liquidity, and corporate banking.
The shift raises the stakes from productivity gains to operational delegation. Banks will need stronger
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
Financial institutions are beginning to treat AI as an operator of core workflows, which could reshape staffing, risk management, and vendor competition.
Summary
Finastra launched Repair Recommendations, an AI capability within its cloud-based OperatorAssist platform. The tool is designed to identify payment-processing problems and recommend fixes for bank operations teams.
The shift is from AI-assisted diagnosis to AI-guided remediation in a high-volume banking workflow. Banks
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
AI is moving into the operational layer of payments, where faster error resolution can directly affect bank costs and customer experience.
Summary
Elio Mortgage launched with $5.1 million in preseed funding led by Motive Partners and Social Leverage. The company plans to pursue nationwide licensing and hire loan officers.
Elio is using early capital to build the regulatory footprint and sales force required for
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
The launch adds a newly funded mortgage entrant at a time when nationwide distribution and operating efficiency remain critical advantages.
Summary
CoinSwitch reported Adjusted EBITDA profitability in FY26 after revenue rose 150% to Rs 324.19 crore. Its Adjusted EBITDA margin reached 27% as operating costs grew 37%, while the platform expanded its user base to more than 2 crore and supports over 450 digital assets.
Revenue growth is now translating into operating leverage, with costs rising far more slowly than
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
CoinSwitch's results suggest India's crypto platforms can scale toward profitability despite a volatile and tightly scrutinised market.
Summary
Rocket Mortgage will adopt VantageScore 4.0 as its default credit model after a four-month test involving 1.4 million credit reports. The company said the model helped some borrowers qualify and improved pricing outcomes.
Rocket's decision shifts mortgage underwriting toward a model that may evaluate more applicants as creditworthy
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
A major lender's default-model change could broaden mortgage access and pressure the industry to reassess established credit-score standards.
Summary
Coinbase Ventures and CMCC Global closed a strategic funding round with Raven, an institutional market maker focused on prediction markets. Raven supplies continuous buy and sell orders for prediction-market contracts.
The funding adds institutional liquidity to a market that depends on active trading to make
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
Better market making could help prediction markets move from niche products toward more liquid, institutionally supported venues.
Summary
Polymarket hired Lisa Mantil, a nearly 30-year Goldman Sachs veteran, to help attract institutional traders to its prediction market.
The hire gives Polymarket a senior financial markets operator focused on bringing Wall Street liquidity
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
Polymarket is moving from retail attention toward institutional market participation.
Summary
Bitcoin has risen roughly 750% since Warren Buffett labeled it "rat poison squared" in 2018, reaching above $126,000 as institutional participation and investor demand expanded. Its sharp subsequent correction also underscores why Buffett remained wary of an asset with extreme volatility and no conventional cash flows.
Bitcoin's price gains and institutional adoption have weakened the argument that it would remain a
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
Bitcoin's mainstream acceptance has grown faster than the evidence that its valuation rests on durable economic fundamentals.
Summary
Brazil-based Nubank has considered moving its legal domicile to the City as part of a potential £10bn takeover of Monzo. The proposal would connect one of Britain's largest digital banks with a major Latin American fintech.
The decisive shift is that a takeover could bring Nubank's legal base, capital and international
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
The deal could strengthen the UK's fintech sector, but its value depends on whether ownership translates into lasting economic activity at home.
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