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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.

 
Venmo adds a check cashing feature, waives...
Venmo this morning announced it will begin to offer a new check cashing service, “Cash a Check,” in the Venmo mobile app. The feature, which is being rolled out to select users starting today, can be used to cash printed, payroll and U.S. government checks, including the new stimulus checks, the company says. Though typically there will be fees associated with the Cash a Check feature, Venmo says these are being waived on stimulus funds for a limited time....

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India’s CRED raises $81 million, buys back...
Bangalore-based CRED is kickstarting the new year on a high note. The two-year-old startup, led by high-profile entrepreneur Kunal Shah, said on Monday it has raised $81 million in a new financing round and bought shares worth $1.2 million (about 90 million Indian rupees) from employees. The Series C financing round, as first reported by TechCrunch in late November, was led by DST Global. Existing investors Sequoia Capital, Ribbit Capital, Tiger Global, and General Catalyst also participated in the...

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Extra Crunch’s top 10 stories of 2020
I edited hundreds of stories in 2020, so choosing my favorites would be an exercise in futility. Instead, I’ve tried to gather a sample of Extra Crunch stories that taught me something new. (Which means this top 10 list betrays my ignorance, a humbling admission for a know-it-all like myself.) While narrowing down the field of candidates, I realized that we’re covering each of the topics on this list in greater depth next year. We already have stories in...

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Activist hedge fund manager Daniel Loeb takes...
Third Point, the activist hedge fund run by Daniel Loeb, is busy in the waning days of 2020. It’s had great returns despite huge turbulence early in the pandemic — Reuters says that it is up 12.3% for the year as of earlier this month — and the firm clearly sees more and more potential for growth in the tech sector. First, we learned via Asa Fitch at the Wall Street Journal yesterday that the hedge fund sent a...

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Understanding Europe’s big push to rewrite the...
European Union lawmakers have set out the biggest update of digital regulations for around two decades — likening it to the introduction of traffic lights to highways to bring order to the chaos wrought by increased mobility. Just switch cars for packets of data. The proposals for a Digital Services Act (DSA) to standardize safety rules for online business, and a Digital Markets Act (DMA), which will put limits on tech giants aimed at boosting competition in the digital markets...

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EarlyBird’s new app lets families and friends...
A new fintech startup called EarlyBird wants to help families invest in their children’s financial futures. Through the EarlyBird mobile app, parents in just a few minutes can create a custodial account, also known as a UGMA (Uniform Gifts to Minors Act) account. These accounts typically allow a parent, aka the “custodian,” to invest in stocks, bonds, mutual funds, and other securities on behalf of the minor child. When the child comes of legal adult age, the investments become...

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From the US to China, Korea, India...
After decades of global expansion and consolidation in the tech sector, antitrust is now a headline issue for the industry across the world. What has been a slow and sputtering series of disparate actions over the past decade has coalesced in just the past few weeks into a rapid and comprehensive series of actions against the industry, with the United States being a notable laggard worldwide. Nowhere are these actions more prominent than in China, where the competition authorities...

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Seattle-based Madrona raises $320M for its eighth...
Madrona Venture Group has been a mainstay of the Seattle and northwest United States startup ecosystem for years now, and it looks like it is going to continue that legacy going forward. In a filing with the SEC, the firm announced its eighth venture capital fund, raising $320 million. That’s up slightly from the firm’s past two funds, both of which were $300 million vehicles. The filing comes roughly a year and a half after the firm’s last fundraise...

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Daily Crunch: China presents ‘rectification’ plan for...
The Chinese government could reshape Ant Group’s business, Tesla plans to launch in India next year and the FAA announces a new ID requirement for drones. This is your Daily Crunch for December 28, 2020. The big story: China presents ‘rectification’ plan for Ant Group Less than two months ago, Chinese authorities halted the planned IPO of Ant Group, the payments and fintech company that spun out of Alibaba nearly a decade earlier. Now the government has laid out...

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Global investors flee from Chinese tech stocks...
Global investors are running from Chinese tech stocks in the wake of the government’s crackdown on Ant Group and Alibaba, two high-flying businesses founded by Ma Yun (Jack Ma) that were once hailed as paragons of China’s new tech elite. Shares of major technology companies in the country have fallen sharply in recent days, with Bloomberg calculating that Alibaba, Tencent, JD.com and Meituan have lost around $200 billion in value during a handful of trading sessions. Already reeling from...

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Tappity raises $1.3M for its interactive and...
When kids today want to learn about a new topic they’re interested in, they’ll often turn to YouTube. But the quality of the educational content on the platform can be hit or miss, depending on what specific videos kids happen to come across. Tappity, a digital educational startup now backed by $1.3 million in seed funding, aims to offer an alternative. Its video library offers entertaining and interactive live-action videos kids enjoy, while also ensuring the content itself is...

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

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Daily Crunch: Telegram prepares to monetize
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...

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XRP cryptocurrency crashes following announcement of SEC...
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...

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The Biden administration can change the world...
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,...

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