In this episode of CoinStreet Headlines, we dive into the latest developments in the fintech and crypto sectors. Klarna, backed by Sequoia Capital, is eyeing a U.S. IPO with a valuation of up to $14 billion, while reassigning employees to customer support after acknowledging over-reliance on AI. Stripe takes a stand against banks charging for customer financial data access, urging the U.S. Consumer Financial Protection Bureau to act. Meanwhile, Gemini, the crypto exchange founded by the Winklevoss brothers, has filed for an IPO to raise $317 million. We also explore the concentration of Ethereum holdings, revealing that 61% of all ETH is held by just 10 addresses, primarily through staking contracts and institutional investors. Jane King has the latest from the NYSE.
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Thanks, Rey.
Here's a look at youroin Street headlines.
Sequoia Capital back Farnas said it was aiming for a US listing valuing the FinTech at up to $14 billion and it is moving closer, it says, to that long awaited IPO.
Now in the meantime, Business Insider reports CARNA has been reassigning employees to customer support after its CEO said it had relied too heavily on AI.
Engineers and marketers are among those being moved.
Stripe is among the first financial tech firms to directly and publicly appeal to the US Consumer Financial Protection Bureau to take immediate action against banks charging for access to their customers' financial data.
The company says allowing JPMorgan Chase to charge fees while the CFPB considers whether to allow the bank and others in the industry to do so will cause significant damage to the marketplace and consumers before strike.
Sent the letter FinTech trade groups such as the Financial Technology Association have led the charge against JPMorgan's proposed fees.
Well, the Winklevoss brothers, founded crypto exchange Gemini, has filed for an IPO seeking to raise up to $317 million as an emerging growth company.
The company has filed the required S1 and will trade on the NASDAQ.
And who owns the most?
Ethereum.
Coin Telegraph found around 61% of All Eth is held by just 10 addresses, but most belong to staking contracts, exchanges, or funds, not individual whales.
Nearly half of all E sits in a single smart contract, the Beacon deposit contract that powers Ethereum's proof of stake system.
Big institutions like BlackRock, Fidelity, and listed companies now hold millions of E, turning Ethereum into a serious treasury asset, and that's the latest Coin Street headlines.