Technology

Goldman Lends MercadoLibre $233 Million for Credit Growth

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 […]

Technology

Celsius Repays $113 Million of Loans as Crypto Lender Fights Insolvency

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.

Technology

GameStop Launches Its NFT Marketplace Just as NFT Sales Dry Up

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 […]

Technology

Nail-Biting Tech Earnings Season Ahead After Nasdaq Rout

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, […]

Technology

Volkswagen names a new CEO to run its electric truck and SUV spinoff Scout

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 […]

Technology

Bitcoin Drops for a Fourth Day, Falling Back Below $20,000 Level

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 […]

Technology

Google Countersues Dating App Match Group in Fight Over Play Store Policies

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 […]