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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.

 
The tale of 2 challenger bank models
Tilman Ehrbeck Contributor Tilman Ehrbeck is managing partner at Flourish, based in Washington D.C. Anuradha Ramachandran Contributor Ameya Updadhyay Contributor Ameya Updadhyay is a venture partner managing African investments at Flourish Ventures, He is based in London. Accelerated by the pandemic and its economic fallout, the tale of retail challenger bank models across the world has been diverging. In the Americas, Albo, Chime, and Uoala have all reported record user numbers as consumers adapted to a “no-touch” economy. Aspiration...

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Casa pivots to provide self-custody services to...
Casa, a Colorado-based provider of bitcoin security services, is launching a managed service allowing customers to buy and hold their own bitcoin, rather than using an external custodian like Coinbase. “With self-custody using Casa it’s impossible to be hacked and nearly impossible to have your bitcoin stolen,” wrote chief executive Nick Neuman in an email. “Leaving bitcoin on an exchange (e.g. Coinbase or many others) opens it up to theft; there is a long history of bitcoin theft and...

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Extra Crunch Live: Join a live Q&A...
Money makes the world go round, as the saying goes. But how and where we spend it are still very much up for grabs. One person who has been pondering that question and providing answers very successfully is Max Levchin, and we’re very excited to have him as our special guest today on Extra Crunch Live, where we’ll be interviewing him as well as taking questions from the audience. Levchin could not be more central to the story of...

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Twitter says Android security bug gave access...
Twitter says a security bug may have exposed the private direct messages of its Android app users, but said that there was no evidence that the vulnerability was ever exploited. The bug could have allowed a malicious Android app running on the same device to siphon off a user’s direct messages stored in the Twitter app by bypassing Android’s built-in data permissions. But, Twitter said that the bug, patched in October 2018, only worked on Android 8 (Oreo) and...

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Extra Crunch Live: Join Wealthfront CEO Andy...
Wealthfront was one of the earliest and remains one of the most formidable companies in the so-called robo-advisor space — algorithmic apps that manage and optimize your savings and investments. Since its debut, the platform has skyrocketed in popularity, taking in more than $200 million in venture capital according to Crunchbase, including a recent $75 million round led by Tiger Global in 2018 when the company had just shy of $10 billion in assets under management. Since then, it’s...

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As e-commerce accelerates, fintech startups raised record...
But early-stage firms are seeing fewer funding events Alex Wilhelm 9 hours Reading headlines here and there, one might assume that venture capital interest in fintech startups is setting records every quarter. After all: Didn’t Robinhood raise $280 million and $320 million more this year? Stripe raised $600 million just a few minutes ago, and wasn’t it Monzo that raised £60 million a few weeks back? Oh, and Hippo raised $150 million the other day. And what about that...

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Mozper launches digital banking service for Latin...
Mozper, a new service launching from Y Combinator’s latest cohort to provide digital banking services, takes its name from the English words for money, prosperity, and generation Z, according to co-founder Yael Israeli. A former banker at Lehman Brothers and Barclays Capital, Israeli worked as a consultant for Copa Airlines and then as an independent advisor from her home in Panama. It was during conversations with her husband’s roommate from Israel, Gabriel Roizner, a serial entrepreneur who built consumer...

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Decrypted: How a teenager hacked Twitter, Garmin’s...
A 17-year-old Florida teenager is accused of perpetrating one of the year’s biggest and most high-profile hacks: Twitter. A federal 30-count indictment filed in Tampa said Graham Ivan Clark used a phone spearphishing attack to pivot through multiple layers of Twitter’s security and bypassed its two-factor authentication to gain access to an internal “admin” tool that let the hacker take over any account. With two accomplices named in a separate federal indictment, Clark — who went by the online...

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Mobile bank Current launches a points rewards...
Amid a crowded market of mobile banking services, which will soon also include Google, U.S. challenger bank Current is launching a new program that will offer points-based rewards to its checking account customers. The program will allow Current members to earn up to 15x points on everyday debit card purchases at over U.S. 14,000 merchants, including national retailers like Subway, Rite Aid, True Value, Cold Stone Creamery, and others. The points program is an alternative to other credit cards’...

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Twitter warns investors of possible fine from...
Twitter has disclosed it’s facing a potential fine of more than a hundred million dollars as a result of a probe by the Federal Trade Commission (FTC) which believes the company violated a 2011 consent order by using data provided by users for a security purpose to target them with ads. In an SEC filing, reported on earlier by the New York Times, Twitter revealed it received the draft complaint from the FTC late last month. The activity the...

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Extra Crunch Live: Join fintech legend Max...
We’ve got a great Extra Crunch Live chat coming up on Thursday, August 4, that you won’t want to miss. The one and only Max Levchin, is Silicon Valley icon and entrepreneur extraordinaire, is joining us to talk all things tech and fintech. You might know him as the CEO of Affirm, one of the hottest finance startups around right now, but he’s actually been a significant figure in tech in the Valley — and globally — for decades,...

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SaaS securitization will disrupt VC’s biggest returns...
SaaS investing has been on fire the past decade and the returns have been gushing in, with IPOs like Datadog, direct listings like Slack and acquisitions like Qualtrics (which is now being spun back out) creating billions of wealth and VC returns. Dozens more SaaS startups are on deck to head toward their exits in the same way, and many VC funds — particularly those with deep portfolios in the SaaS space — are going to perform well. Yet,...

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Is the 2020 SPAC boom an echo...
I wanted to write an essay about Microsoft and TikTok today, because I was effectively a full-time reporter covering the software giant when it hired Satya Nadella in 2014. But, everyone else has already done that and, frankly, there’s a more pressing financial topic for us to parse. Let’s take a minute to take stock of SPAC (special purpose acquisition companies) which have risen sharply to fresh prominence in recent months. Also known as blank-check companies, SPACS are firms...

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Facebook launches commerce and connectivity-focused accelerator programs
Facebook launched two 12-week accelerator programs for startups on Monday as the social juggernaut looks for new ideas and solutions to expand its commerce and connectivity efforts. Facebook’s Commerce Accelerator will select 60 startups from the EMEA and LATAM regions for the program, the company said. The startups that make the cut will explore building shopping solutions to drive commerce inside Facebook’s family of apps. “Our goal is to make shopping seamless and empower anyone from an entrepreneur to...

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Mobile banking startup Varo is becoming a...
Mobile banking startup Varo is becoming its own bank. The company announced on Friday it has been granted a national bank charter from the Office of the Comptroller of the Currency (OCC) and secured regulatory approvals from the FDIC and Federal Reserve to open Varo Bank, N.A. The news follows Varo’s recent close on an additional $241 million in Series D funding aimed at helped Varo transition its service to its own bank, as well as expand into new...

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