Goldman Sachs Group Inc. has agreed to loan $233 million to Latin American e-commerce giant MercadoLibre Inc.’s fintech arm as the firm plans on expanding its credit offering in two key markets. MercadoPago, as the financial-tech business is known, will use $106 million to boost its credit portfolio aimed at individuals and smaller businesses in […]
Crypto lender Celsius Network repaid more loans Monday, as the company continues to battle insolvency. In the past day, Celsius repaid about $78.1 million worth of USDC stablecoin to lending platform Aave, according to tracker Etherscan. It also repaid $35 million worth of stablecoin DAI on platform Compound.
Retailer GameStop Corp. launched its long-awaited marketplace for nonfungible tokens Monday just as sales of such digital artworks dry up amid the crypto industry crash. The marketplace is part of a push by GameStop Chairman Ryan Cohen to expand its array of digital services and online products in a bid to turn around the struggling […]
With technology stocks on track for their biggest annual decline on record, the earnings season has a lot riding on it. A tumultuous first half wiped out $5.6 trillion in market value from the Nasdaq 100 Index through the end of June, with rate hikes hitting stocks valued on future earnings, inflation driving up costs, […]
The electric rebirth of Scout, the classic off-road SUV brand, is getting real this week as Volkswagen names Scott Keogh as CEO of its new spinoff company. The former head of VW Group America, as initially reported by Axios, pushed for VW to start a new electric truck line after seeing a fully restored vintage […]
Bitcoin fell back below $20,000 on Tuesday after enjoying its strongest run in more than three months last week, as risk aversion returned to global markets. The largest cryptocurrency dropped as much as 5.6% to $19,275, declining for a fourth straight session. It reached $22,472 on Friday amid a broader rally. Second-largest Ether tumbled more […]
Google has sued Match Group Inc., accusing the dating-app service of bad faith dealings and breach of contract in provoking a legal battle over Google Play policies. The Google suit is in response to Match Group having sued the search giant in May, accusing it of having monopolistic billing policies. Google changed some of the […]