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Suborbital space tourism finally arrives | FCC prepares to run public C-band auction | The big four in the U.S. launch industry — United Launch Alliance, SpaceX, Blue Origin and Northrop Grumman — hope to be one of two providers that will receive five-year contracts later this year to launch national security payloads starting in 2022. | China’s launch rate stays high | The International Space Station is the largest ever crewed object in space.

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China lays out ‘rectification’ plan for Jack...

December 28, 2020

What a whirlwind holiday for Jack Ma and his fintech empire. The People’s Bank of China, the country’s central bank, summoned Ant Group for regulatory talks on December 26th, announcing a sweeping plan for the fintech firm to “rectify” its regulatory violations. The meeting came less than two months after China’s financial authorities abruptly halted what could have been a record-setting initial public offering of Ant over the firm’s regulatory compliance issues. The company, which started out as a...

Daily Crunch: Telegram prepares to monetize

December 23, 2020

Telegram will introduce ads, TikTok’s parent company is moving into drug discovery and President Trump continues his battle against Section 230. This is your Daily Crunch for December 23, 2020. The big story: Telegram prepares to monetize Telegram founder Pavel Durov said the messaging app will introduce advertising next year on public one-to-many channels. Durov wrote on his Telegram channel the ad platform will be “one that is user-friendly, respects privacy and allows us to cover the costs of...

XRP cryptocurrency crashes following announcement of SEC...

December 23, 2020

The value of one of the world’s most valuable cryptocurrencies is crashing and a recently filed SEC complaint is at the root of the free fall. According to CoinMarketCap, the XRP token’s value has declined more than 42% in the past 24 hours and is down more than 63% from its 30-day high of $0.76. It now sits at just $0.27. XRP’s price volatility has rivaled the most capricious of cryptocurrencies. Since reaching an all-time-high of $3.84 back in...

The Biden administration can change the world...

December 23, 2020

Asheesh Birla Contributor Asheesh Birla is the GM of RippleNet at Ripple. The U.S. government is failing us with regard to fintech and blockchain regulation. Devoid of any regulatory framework in the past four years we’ve been operating in limbo when it comes to the development and advancement of crypto products. Innovators in the fintech and blockchain industries have the ability and vision to build products that solve real problems for everyone from individuals to large banks to governments,...

Singapore-based open finance startup Finantier gets backing...

December 22, 2020

Being “underbanked” doesn’t mean that someone lacks access to financial services. Instead, it often means they don’t have traditional bank accounts or credit cards. But in markets like Indonesia, many still use digital wallets or e-commerce platforms, creating alternative sources of user data that can help them secure working capital and other financial tools. Finantier, a Singapore-based open finance startup, wants to streamline that data with a single API that gives financial services access to user data, with their...

Liberis, the embedded finance provider for SMEs,...

December 22, 2020

Liberis, the U.K.-based fintech that provides finance for small businesses as an alternative to a traditional bank loan or extended overdraft, has replenished its own coffers with £70 million in funding. The round is a mixture of debt and venture debt, although the company is declining to disclose the percentage split, so we can likely chalk this up as mostly debt to fund the loans Liberis issues. Providing the financing are previous backers British Business Investments, Paragon Bank and...

Daily Crunch: Stimulus bill includes money for...

December 21, 2020

We look at the tech implications of the new stimulus bill, Lockheed Martin makes a big rocket engine acquisition and Google Cloud expands. This is your Daily Crunch for December 21, 2020. The big story: Stimulus bill includes money for broadband and energy The $900 billion pandemic relief bill that lawmakers agreed on over the weekend includes a number of provisions that could have a significant impact on the tech industry. For one thing, it commits $7 billion to...

Fintech startups are increasingly focusing on profitability

December 21, 2020

Fintech startups have been massively successful over the past few years. The biggest consumer startups managed to attract millions — sometimes even tens of millions — of users and have raised some of the biggest funding rounds in late-stage venture capital. That’s why they’ve also reached incredible valuations. After a few wild years of growth, fintech startups are starting to act more like traditional finance companies. And yet, this year’s economic downturn has been a challenge for the current...

Can you IPO sneakers? Also, this is...

December 19, 2020

Welcome back to The TechCrunch Exchange, a weekly startups-and-markets newsletter. It’s broadly based on the daily column that appears on Extra Crunch, but free, and made for your weekend reading. Want it in your inbox every Saturday? Subscribe here. Ready? Let’s talk money, startups and spicy IPO rumors. Sweet dreams are made of IPOs, so merry f****** Christmas We’re all very tired but there’s still so much news to go over I am sorry Can you IPO sneakers? Also, this is the last...

This Week in Apps: App Store privacy...

December 19, 2020

Welcome back to This Week in Apps, href=”https://techcrunch.com/tag/this-week-in-apps/”>the weekly TechCrunch series that recaps the latest in mobile OS news, mobile applications and the overall app economy. The app industry is as hot as ever, with a record 204 billion downloads and $120 billion in global consumer spend in 2019. Not including third-party Chinese app stores, iOS and Android users downloaded 130 billion apps in 2020. Consumer spend also hit a record $112 billion across iOS and Android alone. In 2019, people...

Brazilian lending company Creditas raises $255 million...

December 18, 2020

Creditas, the Brazilian lending business, has raised $255 million in new financing as financial services startups across Latin America continue to attract massive amounts of cash. The company’s credit portfolio has crossed 1 billion reals ($196.66 million) and the new round will value the company at $1.75 billion thanks to $570 million raised in outside financing over five rounds. Creditas is the latest company to benefit from a boom in financial services startup investing across the region. As the...

Is rising usage driving crypto’s recent price...

December 17, 2020

Everything is dumb until it works. As 2020 comes to a close, the cryptocurrency world is experiencing another late-year surge of consumer interest as prices climb in value. Bitcoin is over $23,000 as I write to you, an all-time high. Ethereum’s cryptocurrency has recovered sharply as well, returning to mid-2018 prices. The Exchange explores startups, markets and money. Read it every morning on Extra Crunch, or get The Exchange newsletter every Saturday. These gains have created a huge amount...

2020’s top 10 enterprise M&A deals totaled...

December 17, 2020

While 2020 won’t be remembered fondly by many of us for much of anything, it was a blockbuster year for enterprise M&A with the top 10 deals totaling an astounding $165.2 billion. This is the third straight year I’ve done this compilation. Last year the number was $40 billion. The year prior it was $87 billion. Those numbers pale in comparison to 2020’s result. Last year’s biggest deal — Salesforce buying Tableau for $15.7 billion — would have only...

Robinhood pays $65M to settle SEC charges...

December 17, 2020

Today, American securities watchdog the SEC announced that Robinhood, a free-to-trade broker that has grown rapidly in recent years, has paid a $65 million fine to settle charges relating to some of its historical business practices. The actions at issue occured between 2015 and 2018, with the SEC alleging that the company “made misleading statements and omissions in customer communications” about how it generated “its largest revenue source” – specifically, payment for order flow. The SEC also said that the...

From startups to Starbucks: The embedded API...

December 17, 2020

Simon Wu Contributor Simon is an Investment Director with Cathay Innovation where he responsible for screening, evaluating and executing potential investments as well as post-investment monitoring. More posts by this contributor How retailers can survive the Amazon era Stripe recently made headlines with its entrance into the banking world with Stripe Treasury. The news follows Google’s banking and payments announcement along with IPO bound companies such as Airbnb, DoorDash and Affirm all mentioning “financial services” in S-1 filings —...

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