F|T: The FinTech Times – Layoffs continue to hit Canadian FinTech – BetaKit – Canadian Startup News
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The round closed in late 2022 and was led by Fidelity International Strategic Investors, which also invested in Conquest’s previous funding rounds. Also returning to invest in Conquest is Portage, joined by new investors BNY Mellon and the Royal Bank of Canada (RBC).
Affirm said in June 2022 it had 2,552 employees, which means the layoffs impact about 485 people.
Around 42 full, part-time, and contract staff were affected. Koho’s headcount now sits at 300 people following the staff cut.
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PayPal's board hasn't yet chosen a successor. Mr. Shulman said he would help with the leadership transitionand remain on the board.
Netcoins is one of the 11 crypto trading platforms currently registered with securities regulators in Canada. The company is also one of the first and only regulated Canadian crypto firms to expand into the US to date.
What follows is the most detailed account yet of FTX’s final days. It is based on interviews with people with first-hand knowledge of events, as well as court documents and extensive internal messages and emails, which have been minimally edited for length and clarity.
Thinkific, WonderFi, and VerticalScope are the latest companies to publicly announce departures in their leadership teams as the tech sector grapples with a volatile market.
The companies consolidate after a steep fall in valuations for the crypto sector that saw high-profile collapses in recent months.
The Canadian Web3 Council’s membership includes some of the biggest crypto, blockchain and FinTech startups in Canada. Among its membership it counts Wealthsimple, WonderFi, Dapper Labs, Ledn, and Shakepay. The council’s goal is to accelerate the growth of Web3 technology in Canada through policy innovation.
The SEC settlement sends a clear message about crypto interest and lending programs.
“I‘ve seen many qualified businesses struggle to get financing,” said Levr.ai co-founder and CEO Kaylan Pepin in a statement. “Even worse than the complex loan application process is the lack of software tools available to manage active business loans. We’re building Levr.ai to solve these issues.”
Coinbase Global Inc.’s head Brian Armstrong escalated his war of words with the US Securities and Exchange Commission, warning he’d heard rumors the agency wants to ‘get rid of’ crypto staking by retail investors.
While CoinSmart has accepted that the deal will no longer proceed, the startup reiterated its position that Coinsquare “had no legal basis” to terminate the transaction. CoinSmart said it plans to pursue the matter further in court.
Many once-promising financial startups are cash-strapped; others have broken business models.
Michael is a multimedia journalist working out of the U.K. and a staff writer for BetaKit.