Upstart’s AI Lending Platform Expands to Auto Loans On Deposit Solutions’ launch in the U.S. with CEO Philipp von Girsewald...
Wirecard seeks new financing strategy as Moody’s downgrades firm to junk Compound Tops MakerDAO, Now Has the Most Value Staked...
Despite recent challenges with accounting issues in its Asian arm German payments company Wirecard has received a $1 billion funding...
Beleaguered German fintech Wirecard continues to struggle with allegations of accounting impropriety; auditors have been unable to find 1.9 billion...
WhatsApp launches payments in Brazil and is unceremoniously shut down by the central bank a week later, MasterCard buys Finicity to protect itself against Visa’s recent acquisition of Plaid, Checkout.com continues its largely silent meteoric rise in payments, Softbank-backed and DAX 30 index component Wirecard “loses" $2 billion from its balance sheet and files for insolvency, Upgrade raises $40 million at a $1 billion valuation to extend its personal credit offering.
This week, we consider the impact of financial infrastructure collapse and who really gets hurt through the lens of Wirecard, Enron, and Lehman Brothers. Yes, there are investors in the entity that will lose value. But there are also clients and counterparties of Wirecard, like Curve, Revolut, and Crypto.com. In the case of Lehman, there was a $40 trillion derivatives notional amount that took twenty years to wind down. We also consider the most recent $500,000 hacking in DeFi of an automated market maker to see if there are common threads to be drawn between the two worlds.
The warning signs were very apparent for Wirecard, not only did the Financial Times do numerous articles on the fintech...
Wirecard has announced that an external law firm is investigating accounting manipulations by a member of the company’s finance team...
Supreme Court strikes down CFPB leadership structure Experian’s Rob Haslingden: “Open Finance has the potential to fuel the growth of...
McKinsey warned Wirecard to take immediate action on controls in their largest business more than a year ago; the consultancy...