FinTech

In what seems to be a continuing series of woes for Telegram and its TON blockchain, the United States District Court for the Southern District of New York has decided to postpone the hearing that will determine if the Grams token is a security or not to the 18th and 19th of February 2020.Though the company was doing its best to make its token publicly available, the United States Securities and Exchange Commission (SEC) made a couple of moves by dragging the messaging app to court on...

Layer1, San Francisco-based startup involved in Bitcoin mining, has raised $50 million in an effort to live up its plan to establish farms for mining. The money has been received from such a row of prominent investors including Peter Thiel, an American billionaire and co-founder of PayPal, Palantir Technologies and Founders Fund, and Shasta Ventures, an early-stage venture capital investment firm that invests in enterprise and technology consumer startups.According to Alexander Liegl, CEO of...

Photo: Galileo Financial Technologies / YouTubeA gentleman named Clay Wilkes had already decided to retire and enjoy his late years when he changed his mind – he’d rather not to. In 2000 this amazing entrepreneur launched Galileo Financial Services and already then realized the growing demand for better integration between and financial institutions and secondary services.19 years later, what his company does exactly that is the back-office connections with financial institutions and, boy,...

Telegram’s launch of its TON blockchain and GRAMS token has hit yet another brick wall because the United States Securities and Exchange Commission (SEC) has taken the issue of the launch of their tokens before a court. In a filing two days ago, the messenger app organization asked the United States District Court for the Southern District of New York to deny the SEC the preliminary injunction. Just for reminder, the SEC had asked for it a filing of its own last week requesting Telegram to...

The online-streaming media powerhouse Netflix has given strong Q3 earnings numbers resulting in its stock price (309,25 USD, +8.02%) shooting northwards on Wednesday, October 16. Beating street expectations, Netflix reported a 31% jump in its year-over-year revenue which is currently at 45.24 billion.Another impressive thing is its GAAP earning stands at $1.47 per share instead of analysts’ expectations of $1.05 per share. When it comes to growth in the subscriber-base, the U.S. figures are...

Samsung SDS, the IT unit of South Korean electronics king Samsung, has started pilot testing of its medical insurance network based on blockchain. To test the new system of medical claims processing, Samsung SDS has signed a number of medical institutions and insurers that were offered to assess the performance and effectiveness of the system.As CoinDesk Korea has reported, the medical claims processing system is expected to go live later this month. During the Blockchain Seoul 2019 event...

Telegram has informed its investors that the TON blockchain project will be launched later than it was previously planned, six months later, exactly on April 30, 2020.In an email to investors Telegram said it had a lot of problems and ‘run-ins’ with the Securities and Exchange Commission (SEC), that came by with the restraining order made to forbid this messenger app company from launching TON and issuing its Gram tokens. SEC decided to treat Grams as unregistered securities.This email...

Some of the most important personas in FinTech and banking spoke on Wednesday at the IMF’s ‘Big Tech and the Future of Finance’ seminar, part of its annual meeting.Among them was Calibra’s CEO David Marcus, Bank of England governor Mark Carney, Infosys founder Nandan Nilekani, and Havard economic professor Jason Furman. They spoke about digital payments, stablecoins, and of, course, Facebook’s Libra cryptocurrency.The role of big technological companies as is Facebook itself breaking into the...

Facebook’s Libra has faced its fair share of roadblocks since it was first announced a few months ago. Regardless, the company seems to slowly be rising out of its problems and has said that its initial plan to have at least 100 members as part of the Libra Association, would be achieved before the asset officially launches.Speaking during a phone interview with CNBC, the Libra Association’s Chief Operating Officer and provisional Managing Director, Bertrand Perez, has said the that...

As we reported earlier, the long-awaited issuance of Gram tokens from Telegram on its Telegram Open Network (TON), was hit with a surprising roadblock when the United States Securities and Exchange Commission (SEC) deemed it unlawful and filed an emergency action as well as a restraining order against it.Even though the company is not based anywhere in the U.S., the SEC claims that Telegram not only failed to register properly but also was not entirely forthcoming with its investors, most of...