Facebook’s regulation dodge: Let us, or China will
Facebook is leaning on fears of China exporting its authoritarian social values to counter arguments that it should be broken up or slowed down. Its top executives have each claimed that if the U.S. limits its size, blocks its acquisitions or bans its cryptocurrency, Chinese...
Highlights from Facebook’s Libra Senate hearing
Facebook will only build its own Calibra cryptocurrency wallet into Messenger and Whatsapp, and will refuse to embed competing wallets, the head of Calibra David Marcus told the Senate Banking Committee today. While some like Senator Brown blustered that “Facebook is dangerous!”, others surfaced poignant...
Facebook’s testimony to congress: Libra will be regulated by Swiss
The head of Facebook’s blockchain subsidiary Calibra David Marcus has released his prepared testimony before congress for tomorrow and Wednesday, explaining that the Libra Association will be regulated by the Swiss government since that’s where it’s headquartered. Meanwhile, he says the Libra Association and Facebook’s...
Facebook answers how Libra taxes & anti-fraud will work
Facebook provided TechCrunch with new information on how its cryptocurrency will stay legal amidst allegations from President Trump that Libra could facilitate “unlawful behavior”. Facebook and Libra Association executives tell me they expect Libra will incur sales tax and capital gains taxes. They confirmed that...
India’s NiYO ‘neo-bank’ raises $35M to help blue-collar workers access financial services
NiYo Solutions, a Bangalore-based ‘neo-bank’ that helps salaried employees and blue-collar workers access company benefits and other financial services, has raised $35 million in a new funding round to expand its business in the nation and explore international markets for some of its products. The...
India’s ride-hailing firm Ola is now in the credit card business, too
A day after India’s largest wallet app Paytm entered the credit cards business, local ride-hailing giant is following suit. Ola has inked a deal with state-run SBI bank and Visa to issue as many as 10 million credit cards in next three and a half...
India’s largest mobile wallet company Paytm now offers a credit card
Paytm, India’s largest mobile wallet app, has branched out to several businesses in recent years as threat from Google and Facebook grows. On Tuesday, it added another category to the list: credit cards. The firm, operated by One97 Communications, today unveiled Paytm First Credit Card...
India’s most popular services are becoming super apps
Truecaller, an app that helps users screen strangers and robocallers, will soon allow users in India, its largest market, to borrow up to a few hundred dollars in the nation. The crediting option will be the fourth feature the nine-year-old app adds to its service...
Alphabet cites ‘headwinds’ in smartphone sales, teases I/O hardware announcement
Alphabet’s Q1 earnings were a disappointment for Wall Street, courtesy primarily of ad revenue shortcomings. The hardware team met with some difficulties, as well, owing in part to a stagnating global smartphone market that has impacted virtually all players. CEO Sundar Pichai cited “year over...
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