
Hello there, welcome to TechCrunch’s common fintech e-newsletter. We’re happening hiatus for a bit, however you may nonetheless discover our must-see fintech protection, together with my columns and our day by day evaluation and breaking information tales, at TechCrunch.com. If you need these tales and way more in your inbox daily, join our day by day newsletters here. Thanks to your loyal readership!
The massive story
The felony trial in opposition to 32-year-old fintech startup founder Charlie Javice began on February 21, with legal professionals laying out their opening arguments. On one facet, JPMorgan Chase alleges that Javice helped “pretend tens of millions of shoppers in an effort to induce the financial institution to purchase her firm,” scholar monetary planning help startup Frank, for $175 million. For her half, Javice claims that the monetary companies large had “purchaser’s regret” as a result of a authorities change in the best way monetary help types are stuffed out. Her legal professionals say alleging fraud was a method to get out of the deal. We’ll after all be glued to this trial and whether or not jurors will discover in favor of Javice or JPMorgan, or one thing in between.
{Dollars} and cents

Fintech Varo has been hoping to lift a $55 million Collection G spherical however has thus far closed on $29 million to date, based on a current SEC submitting. The shut comes quickly after the digital financial institution’s founder Colin Walsh introduced he was stepping down from his function as CEO, with Gavin Michael replacing him.
Crypto trade Bybit introduced on February 21 that “a complicated assault” led to the theft of Ethereum (ETH) from one of many firm’s offline wallets. Bybit’s chief government and co-founder Ben Zhou stated in a livestream that the hackers stole around 401,346 ETH, which on the time of the theft amounted to about $1.4 billion.
Coinbase on February 21 stated the SEC has agreed to drop the lawsuit in opposition to the corporate with prejudice, which means it can’t be filed once more. The transfer, which remains to be topic to the approval of the SEC’s commissioners, is one more sign that the Trump administration plans to be extra pleasant to crypto than the SEC was below former chief Gary Gensler. Days later, Robinhood stated that the SEC has closed its investigation into Robinhood’s crypto unit and won’t pursue motion.
Judging by our inboxes, there isn’t any scarcity of enterprise capitalists nonetheless betting huge on the fintech house. Here is a listing of only a few VCs who stay bullish on fintech. Word: That is an ongoing record that will likely be up to date over time.
Dubai-based Mansa, whose providing permits funds firms, primarily in Africa to this point, to settle transactions and fund buyer accounts immediately, has raised $10 million in seed funding, together with each fairness and debt. Stablecoin supplier Tether led the $3 million fairness funding.
Excessive-interest headlines
Synapse executive alerted accountants before $100 million missing funds scandal
Brex eyes $500M in revenue as it adds the likes of Anthropic and Robinhood as customers
Block shares plunge 18%, for worst day on market in 5 years after earnings miss
Thanks for studying! Observe me on X @bayareawriter for breaking fintech information, posts about espresso, and extra.