Yueqi Yang

2 weeks ago | theinformation.com | Yueqi Yang

Source: The InformationFigure Technology, the fintech firm co-founded by former SoFi CEO Mike Cagney, said it sold a pool of $50 million loans that are backed by the borrowers’ crypto assets to Janus Henderson’s private credit arm Victory Park Capital, opening up a new source of funding for its lending business. It’s rare for private credit funds to provide funding for crypto-backed loans, since the underlying assets are volatile and risky.

2 weeks ago | theinformation.com | Yueqi Yang

Banks are racing to embrace cryptocurrencies, triggered by pending legislation in Washington that could set off the biggest shift toward crypto yet in the traditional financial system. Banks and the companies whose technology underpins much of the finance industry say the shift could become clear as soon as this summer, when banks’ business customers would be allowed to pay overseas suppliers with stablecoins and consumers would be able to use them for purchases.

3 weeks ago | theinformation.com | Yueqi Yang

Source: The InformationCoinbase said on Thursday some customer data were stolen by some of its overseas customer support agents in a breach that may cost between $180 million and $400 million to fix, sending its shares down 6%. The company said the incident affected less than 1% of its monthly users. The agents allegedly stole customers’ names, the last four digits of their social security numbers, government ID images, and partial bank-account numbers.

3 weeks ago | theinformation.com | Yueqi Yang

Source: The InformationSummer Mersinger, a pro-crypto Republican commissioner at the Commodity Futures Trading Commission, will resign at the end of this month to join trade group Blockchain Association as its new chief executive officer. Her term was set to end in 2028. Mersinger will start as CEO on June 2, taking over from Kristin Smith, said Blockchain Association, one of the biggest crypto trade groups. Smith is leaving to join a new trade group Solana Policy Institute as its president.

3 weeks ago | theinformation.com | Yueqi Yang

Source: The InformationStock and crypto trading app eToro jumped 34% when it debuted on Nasdaq on Wednesday, a bullish sign for future initial public offerings following the tariff-induced market selloff last month. The Israel-based company and its shareholders raised $620 million at the IPO price of $52 per share, higher than it earlier planned. BlackRock indicated interest in buying up to $100 million shares during the IPO, according to an earlier filing.