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Chinese Social Media Startup Seeks Funds At $6B Valuation

PYMNTS

Chinese eCommerce and social media startup Xiaohongshu , also known as “Little Red Book,” wants to raise funds at a $6 billion valuation, according to Bloomberg. It was started in 2013 as a community online that would recommend eCommerce sites outside of China. Tencent and Alibaba both invested in that round.

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Prevent pig butchering scams: Safeguarding against investment fraud

Abrigo

Avoid fraud losses from pig butchering scams FinCrime professionals looking to prevent pig butchering scams in the age of cryptocurrency can follow these steps to tighten security. Today’s pig butchering scams usually involve investment schemes and cryptocurrency fraud. Would you like other articles like this in your inbox?

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ICBA LEAD FWD Summit

Independent Banker

At this year’s ICBA LEAD FWD Summit, up-and-coming community bankers gathered from around the country to strengthen their leadership, technical banking and advocacy skills. ICBA chairman Brad Bolton showed examples of ICBA bankers on social media. Keynote speakers included Stacey Hanke, Brad Federman and Mark Ostach.

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Facebook Deals With Rising Expenses As Regulatory Pressure Increases

PYMNTS

Facebook reported a 51 percent spike in its costs and expenses for the full year 2019 — that increase coming as the social media platform faces more questions from regulators and policymakers about its present and planned endeavors. 29), and reported that total costs and expenses hit some $46.71 Challenges to Come. 31, stood at 2.5

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Facebook Gets Serious About Blockchain With Exec Reshuffle

PYMNTS

The news comes as Facebook’s announcement in May that it was creating a blockchain unit led by one of its most senior executives, David Marcus, is raising speculation among those in the blockchain world — because the social media company said little in public about what the group will be doing.

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Hearings Scheduled For BB&T, SunTrust Merger

PYMNTS

The House Financial Services Committee has scheduled hearings about the proposed merger between BB&T and SunTrust Banks, as well as the Facebook-planned cryptocurrency Libra. According to American Banker , the committee will meet July 17 to examine Facebook’s proposed cryptocurrency and its impact on consumers, investors, and the U.S.

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FitPay Rolls Out Bitcoin ‘Flip’ Device Amid Ubiquity Of Contactless

PYMNTS

dollars that are exchanged from the user’s existing cryptocurrency account. FitPay chose that channel, as it can be challenging to find bitcoin users: Mainstream social media companies and ad venues have cut off crypto advertising for various reasons, for example. and president of FitPay, told PYMNTS.com in an interview.

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