F | T: The FinTech Times – Vena customers claim falsehoods in SOC compliance
Plus: Voyager account holders probably won’t get all the crypto back.
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The customer claims that Vena Solutions’ “allegedly alleged” SOC report was independently audited (BETAKIT)
Verra Mobility may not be the only customer having problems with Vena’s SOC compliance. A source familiar with Vena’s business, who stated on condition of anonymity, claimed that Vena has misled several customers about their SOC compliance, and claimed that Vena is currently undergoing audits to rectify the situation.
Voyager account holders are unlikely to recover all crypto (BNN BLOOMBERG)
The crypto broker and lender filed for Chapter 11 bankruptcy late Tuesday, renewing unresolved legal issues over how digital assets will interact with U.S. insolvency law.
When cryptocurrency crashes, WonderFi terminates agreement to buy another regulated cryptocurrency trading platform in Coinberry (BETAKIT)
“It simply came to our notice then [WonderFi’s] the dissertation is played in real time, which is compatible and regulated, “said WonderFi founder and CEO Ben Samaroo.” We would not have been able to do anything like that by being regulated by [Ontario Securities Commission]. “
Lawsuits involving Rogers, Coinsquare point fingers over $ 200,000 Bitcoin hack (THE LOGIC)
Rogers and Coinsquare are involved in a legal battle over who is responsible for a hack that left a technology consultant missing for $ 200,000 worth of Bitcoin.
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BetaKit Live: How to use data to survive a downturn (BETAKIT)
In collaboration with Mozart Data, BetaKit will present a livestream panel discussion on how startups can use data to survive the current downturn. With both U.S. and Canadian VCs, the panel will identify the calculations your business needs to keep an eye on during a downturn, and how you can take action based on what the calculations tell you.
How Wall Street Escaped Krypton Meltdown (THE NEW YORK TIMES)
BNP Paribas, a French bank with a Wall Street presence, compiled a list of 50 shares they thought were overpriced. They called this collection the “cappuccino basket”, a nod to the foaming of the stocks. The bank then turned these shares into a product that mainly gave the largest customers an opportunity to bet that the assets would eventually crash.
It has never been more important to address diversity in AI (BETAKIT)
Simply put, the composition of project teams, who they consult with, and what their values are, can be the difference between a model that is inclusive and respectful, and one that is not.
The ailing crypto lender Celsius wants to lay off a quarter of its employees (CALCALIST TECH)
Crpyto lender Celsius laid off 150 employees in the midst of the ongoing cryptocurrency. At the same time, a former asset manager for Celsius has sued the company for fraud and said that it operated a Ponzi scheme.
Goeasy plans to leverage LendCare acquisition with online car sales startup Canada Drives (BETAKIT)
Goeasy intends to leverage its 2021 acquisition, Fintech startup LendCare, as a preferred non-bank financing provider on Canada Drive’s online car trading platform. The investment is made in four installments and is structured as a convertible certificate that will convert to preference shares.
Startup of Cyber Insurance Coalition plans global expansion when valuation reaches $ 5 billion (TECHCRUNCH)
The investment, backed by Allianz X, Valor Equity Partners and Kinetic Partners, comes less than a year after the company’s $ 205 million Series E increase in September, which valued the company at $ 3.5 billion. Since then, the company has more than tripled its customer base, from 52,000 to 160,000, Joshua Motta, CEO and co-founder of Coalition, tells TechCrunch, and has seen a nearly 200% increase in revenue growth.
