Robinhood’s Crypto Unit Fined $30 Million by Top New York Financial Regulator

The New York State Department of Financial Services has fined online brokerage Robinhood Markets Inc.’s cryptocurrency trading unit $30 million for alleged violations of anti-money laundering regulations. money and cybersecurity, as part of the department’s first crypto enforcement action. Newsletter Sign-Up WSJ | Risk and Compliance Journal Our Morning Risk Report features insights and news … Read more

One Medical users pledge to cancel over $3.9 billion memberships with Amazon

Subscribers to healthcare app One Medical vowed to cancel their memberships on Friday after it was announced that the startup dubbed “the Netflix of primary care” would be acquired by Amazon for $3.9 billion. See: Amazon’s acquisition of One Medical sparks data privacy backlash: ‘What could go wrong?’ Angry One Medical ONEM, -0.58% subscribers said … Read more

Financial Firms Seek Advantage in Quantum Computing-Inspired Algorithms

Quantum computing, which promises to dramatically increase processing speeds, is still years away from large-scale commercial deployment, but some financial services firms are turning to quantum-inspired technology for interim benefits. Traditional computers store information as zeros or ones. Quantum computers use quantum bits, or qubits, which represent and store information in a quantum state which … Read more

New York Federal Officials Seek Public Input on Crypto Regulation

NEW YORK—Senior officials from the U.S. Treasury Department, Department of Commerce, and New York State Department of Financial Services have said that when it comes to the digital asset industry, the involvement of the private sector is crucial, not only for its technological advancement, but also to ensure that it is not used for malicious … Read more

Truist Financial Acquires Long Game Gamified Fintech Startup

Financial truist Corp. operator of one of the nation’s largest commercial banks, has invested in gaming technology by acquiring Long Game Savings Inc., maker of a mobile app that rewards users for their savings. The deal, led by Truist Ventures, the bank’s venture capital arm based in Charlotte, North Carolina, includes Long Game’s team of … Read more