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Moven Gets Funding from SoftBank and Looks to Returns to Roots with Bank Acquisition

Bank Innovation

Neobank Moven has secured an undisclosed amount from SoftBank and is looking to acquire a bank with the funding, according to an American Banker report. Moven burst onto the fintech scene in 2012 — it was founded in 2011 and launched an alpha product in 2013 — as Brett King’s bank, or bank account.

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Adobe Pays Paltry $1 Million Fine Over Hack In 2013

PYMNTS

Adobe is reportedly only paying $1 million over a lawsuit that has to deal with its data breach back in 2013 that put the payment records of around 38 million at risk. According to Krebs on Security , the $1 million goes to settle a lawsuit by 15 attorney generals stemming from that data breach.

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Ripple Asks Court To Dismiss XRP Securities Lawsuit

PYMNTS

The lawsuit, which alleges that Ripple illegally sold unregistered securities related to the XRP cryptocurrency, could have some repercussions in the crypto world. Specifically, it could change how cryptocurrency is viewed going forward, as it seeks to answer the question of whether digital coins should be viewed as securities or not.

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Details on the FDIC Security Breach by Chinese Spies [VIDEO]

Bank Innovation

How Chinese spies hacked into computers at the Federal Deposit Insurance Corporation from 2010 until 2013 -- and American government officials tried to cover it up.

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Bitcoin Daily: Ripple Expands In Europe; Morningstar Makes Blockchain Plans For Debt Securities

PYMNTS

He is accused of setting up and operating Darkode, a black marketplace that operated between 2008 and 2013, as well as creating and deploying Mariposa, one of the largest botnets. And Samsung-backed Blocko is now in the UAE after it secured funding in Asia Pacific and Europe.

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PayPal Eyes Buying Crypto Firm BitGo, Others

PYMNTS

Mike Belshe , BitGo's chief executive officer, founded the company in 2013 to offer highly secure digital wallets for crypto, which need multiple signatures for transactions. It's unknown how much PayPal might pay to buy BitGo. BitGo raised $58.5 million in 2018 and was valued at $170 million, according to PitchBook.

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European Commission Investigating Visa’s Staged Digital Wallet Fees

PYMNTS

In its second-quarter filing with the Securities and Exchange Commission (SEC), the global financial services corporation reported the executive branch of the European Union (EU) informed Visa that it has opened a preliminary investigation into its digital wallet rules and requested information about them.

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