SBF paid no cash at all for his “$250 million bond”
Source picture: Cointelegraph

SBF paid no cash at all for his “$250 million bond”

Wonderful Wednesday, FinTech Fanatics!

The most notable newsfact of last week was the release of Sam Bankman-Fried, on a ‘$250 million bond’ deal that was even described as the “largest ever” pretrial bond.

But in fact, Bankman-Fried paid no cash at all for his release. Bankman-Fried walked out of court essentially a free man on a ‘personal recognizance bond’; he signed a piece of paper where he (and his parents) promised to pay the court $250 million if he decides to flee to another country with no extradition.

In this interesting opinion by James A. Murphy, founder and chairman of law firm Murphy & McGonigle, he explains some background of the latest ‘remarkable deal’ signed by the former FTX-founder. ‘The attempt by the prosecutor’s office to sell this as some extraordinarily onerous bail condition would be laughable.’

After launching a paid internship scheme last week, Revolut grabs headlines in a different way this week. Complaints made to the Financial Ombudsman of “authorised” scams on the Revolut-platform more than doubled in just two years, as reported by The Telegraph.

As you can see, there is never a dull moment in FinTech.

Please find the other FinTech-news listed below??

BREAKING NEWS

PayU lays off 150 employees, approximately 6% of its workforce in a realignment of its teams across some businesses in India, according to a company statement. Link here

NEWS HIGHLIGHT

Chief Financial Officer Jan Kemper leaves N26 at the end of January. The experienced manager and founder wants to devote himself to his own companies, his professorship and his supervisory board activities in the future. Link here

INSIGHTS

Check out The Sifted Founder Rich List 2022 and meet some of Europe’s wealthiest founders — on paper. Link here

ASEAN Survey: Digitalization advances financial inclusion for women and micro business owners. Read this detailed analysis of the ASEAN Digital Generation Report 2022. Link here

Cash still king in Paraguay, Argentina despite increased Digital-Payment penetration, recent surveys reveal. Learn more

Greenlight 2022 Year in Review. Read the full blog post with more stats and figures here

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FINTECH NEWS

Japanese FinTech leader Smartpay first to launch the next phase of digital consumer finance through open banking. The company has launched Smartpay Bank Direct, a service that allows customers to pay for online installment purchases straight from their bank accounts. Link here

Paysharp gets RBI’s in-principle approval for payment aggregator licence, which will enable it to improve the capabilities of its current products, according to Paysharp CEO. Link here

The Dubai Chamber of Commerce launches a new FinTech & Payments Business Group aimed at bringing together companies of all sizes and promote the emirate as a highly competitive global commercial centre. Link here

Singlife with Aviva launches accelerator program Singlife Connect to work with early-stage insurtech startups that have a foothold in the Singapore market. Link here

#DONEDEAL

Money View bags $75 mn. The funding round values the company at $900 million, taking it to the club of soonicorn start-ups which are likely to achieve a valuation of $1 billion in near future. Link here

Hyphen Group secures $22m, CEO steps down. The firm said that the amount is more than its original US$20 million target. It also announced that CEO Sam Allen has stepped down but will remain a shareholder and advisor. Link here

FinTech startup SaveIN announced that it had raised an undisclosed amount of funds through its seed round. The raised funds will facilitate its vision of accessible and affordable healthcare for the Indian masses. Link here

This ends Your Daily FinTech News. Let me know if there are any questions or comments. Until the next!

Regards,

Marcel van Oost

Connecting the dots in FinTech

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Jag Badhan

Business Consultant

1 年

I'm surprised he did not use crypto as bond.

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