Jack Dorsey says Square may build a bitcoin mining system, adding to bitcoin price surge

Square CEO Jack Dorsey said late on Friday the company might jump into the bitcoin mining business. Dorsey tweeted that the company is considering a “bitcoin mining system based on custom silicon and open source for individuals and businesses worldwide.” The price of bitcoin rose above $62,000 following Dorsey’s string of tweets, as the world’s … Read more

European rival to PayPal and Square makes $317 million acquisition to expand in the U.S.

A customer uses a SumUp payment card reader in Lisbon, Portugal, on Sept. 13, 2019. Angel Garcia | Bloomberg via Getty Images LONDON — SumUp, a U.K.-based payment processor, has acquired marketing start-up Fivestars in a bid to expand its reach across the U.S. and take on giants like PayPal and Square. The company said … Read more

Cathie Wood has a warning about traditional growth stocks

Cathie Wood, founder and CEO of ARK Investment Management LLC, speaks during the Skybridge Capital SALT New York 2021 conference in New York City, September 13, 2021. Brendan McDermid | Reuters Innovation investor Cathie Wood implied she might rather choose to own a government bond yielding near 1% over some of the U.S.’ largest market-cap … Read more

How buy now, pay later became a $100 billion industry

Klarna logos displayed on a laptop and phone screen. Jakub Porzycki | NurPhoto via Getty Images Buy now, pay later is having a moment. Millions of shoppers now use a buy now, pay later, or BNPL, service to finance their purchases. And the options are more varied than ever — Klarna, Affirm and Afterpay are … Read more

Fintech wars are heating up as they encroach on each other’s turf — How investors should play it

The PayPal application can be seen on a mobile phone. Felix Kästle | picture alliance | Getty Images Earlier this week, CNBC reported that PayPal is exploring ways to let users trade individual stocks. Since all of the major fintechs now have the goal of becoming customers’ digital financial supermarket, CNBC Pro broke down which … Read more

Ethereum founder is skeptical of Dorsey’s and Zuckerberg’s plans

Jack Dorsey and Mark Zuckerberg may be making big plans in the cryptocurrency space, but Vitalik Buterin doesn’t see them as likely to gain much traction. The engineer widely recognized as the inventor of Ethereum, the world’s most-used blockchain, cast doubt on Square Inc. chief executive officer Dorsey’s plan for the company to create a … Read more

Chime raises $750 million, earns big jump in valuation as another fintech moves closer to IPO

Chime CEO Chris Britt Source: Chime Chime said Friday it raised $750 million in a Series G funding round that values the fintech company at $25 billion. That’s $10 billion higher than its last reported valuation of $15 billion from October 2020, according to PitchBook data. Chime — a so-called challenger bank known for fee-free banking, … Read more

Wall Street’s top analysts believe these stocks could be long-term winners

Jeff Lawson, co-founder and chief executive officer of Twilio Inc., center, rings the opening bell on the floor of the New York Stock Exchange in New York, Sept.17, 2018. Michael Nagle | Bloomberg | Getty Images Given the uncertain financial landscape, investors want to know how they can pinpoint stocks that are poised to deliver … Read more

Why millennials and gen-Zs are jumping on the buy now, pay later trend

All 21-year-old Taylor Emmi wanted was a cosmetic kit from makeup artist and social media star Jeffree Star after watching a video about the brand on YouTube in October 2019. So she took the $144 leap, and nearly two years later, she’s shelled out thousands on a makeup brand she normally couldn’t afford thanks to … Read more

Stocks making the biggest moves in the premarket: Square, Moderna, First Solar and more

Take a look at some of the biggest movers in the premarket: Square (SQ) – The digital payments company agreed to buy Australia’s Afterpay for about $29 billion in stock, representing a roughly 30% premium for Afterpay shareholders. Square shares fell 4.8% in the premarket, but news of the deal boosted shares of U.S.-based payment … Read more