Fintech News Roundup: Charlie Javice's Criminal Trial Begins, Varo Bank Raises $29M, and More

•

17 hours ago

Summary

Charlie Javice's criminal trial begins, Varo Bank closes a new funding round, Bybit gets hacked, Coinbase settles with the SEC

Key Points

One: Charlie Javice's criminal trial began on February 21, with lawyers presenting opening arguments.
Two: Varo Bank has raised $29 million in a new funding round, despite closing its CEO role.
Three: Bybit got hacked and lost approximately $1.4 billion worth of Ethereum.
Four: Coinbase settled with the SEC regarding a lawsuit.

Why It Matters

The criminal trial of Charlie Javice has significant implications for fintech, while Varo Bank's new funding round highlights its resilience in the face of change. Bybit's hack serves as a reminder of the importance of cybersecurity, and Coinbase's settlement with the SEC underscores the need for transparency in the industry.

Author

Mary Ann Azevedo

More Headlines

ElevenLabs Lets Authors Publish AI-Generated Audiobooks on Reader App

Voice AI company ElevenLabs is now allowing authors to publish AI-generated audiobooks on its Reader app. The announcement comes days after the company partnered with Spotify for AI-narrated audiobooks. Authors can earn a payout of roughly $1.10 per 11 minutes of engagement.

Anthropic Launches Claude Plays Pokémon

Anthropic has launched its new AI model, Claude 3.7 Sonnet, which plays Pokémon Red and demonstrates the capabilities of modern AI technology.

DOGE Recruiting: Michael Kratsios, Katie Miller, And AJ Jancso

Elon Musk has been building a universe of companies that have served DOGE. In 2023, AJ Jancso co-founded Accelerate SF, an initiative that taps engineers to solve the city's problems with AI. Michael Kratsios helped lead efforts to staff DOGE in late 2024, conducting interviews of prospective staff.

Proxima Fusion Publishes Plans for Nuclear Fusion Power Plant

Proxima Fusion, a German startup, has published plans for a working fusion power plant in a peer-reviewed journal. The Stellaris design is the first to demonstrate reliable and continuous operation without instabilities and disruptions seen in other approaches. The company aims to build a fully operational reactor by 2031.

Fintech Brex Expects $500 Million Revenue in 2025

Fintech startup Brex is expecting to reach $500 million in annual net revenue by 2025, as cited by Bloomberg and The Information. This growth comes after the company saw a 3x overall revenue growth year-over-year and grew its enterprise business by 80%. Brex has also grown its customer base to include over 150 public companies.

Anthropic's Claude AI Vendor: Grounded in Knowledge Bases

Anthropic, a leading AI vendor, has developed Claude, an AI model that uses knowledge bases to generate outputs. This technology allows for the creation of style guides, interview transcripts, and other content. Additionally, Claude offers advanced features for enterprise customers, including the ability to upload proprietary data and analyze it.

Lovable AI Raises $15 Million in Funding

Lovable, a Swedish AI startup, has raised $15 million in funding to expand its AI-powered software platform. The platform allows users to build production-ready software without coding knowledge and claims to have 500,000 users building over 25,000 new products daily.

Poe AI Chatbot App Now Lets You Make Your Bots Using Prompts

poe, quora's platform that brings together a number of ai models under one roof, has launched a new capability that lets users build visual interfaces — apps, essentially — on top of any combination of models. the feature allows users to describe the app they want to create in the new app creator tool.

Amazon Hosts Alexa-Focused Press Event in NYC

Amazon is set to host an Alexa-focused press event in NYC, marking a significant milestone for the company's virtual assistant. The event will feature new updates and capabilities for Alexa, including improved smart home integration and more natural interactions.

Bluesky Added to Opera Web Browser

The addition of Bluesky, Slack, and Discord to the Opera web browser's sidebar allows users to customize their browsers with shortcuts to messaging apps. This feature responds to user feedback and aims to reduce clutter from open tabs.

Tumblr Backs Tapestry App

Tapestry app, designed by Iconfactory, allows users to organize various sources into custom feeds. Tumblr's financial backing will help build a native macOS version of the app.

OpenAI says it won't bring AI model powering deep research to its API

OpenAI has announced that it will not bring its AI model powering deep research to its API, citing concerns about mass misinformation and disinformation campaigns. The company is instead focusing on revising its methods for probing models for real-world persuasion risks.

Apple Rejects Anti-DEI Proposal

At its investor meeting, Apple shareholders rejected a proposal brought by the National Center for Public Policy Research to end the company's diversity, equity, and inclusion (DEI) activities. This decision comes as other tech companies are trimming or eliminating their DEI programs.

Framous: A New Mac App for Screenshot Frames

Framous is a new Mac app that allows users to add device frames around their screenshots, making it easier for developers, designers, and journalists to create professional-looking mockups. The app was created by Charlie Chapman, who wanted to provide a fast and easy way to add device frames.