Stacey Abrams co-founded fintech company Now raises $9.5M | TechCrunch

Abrams and O’Connor Hodgson founded Now in 2010 to provide small businesses a quicker method for getting invoices paid. When a business submits an invoice through NowAccount, the service pays 100% of the invoice, minus a 3% merchant fee.

“We sell bonds in the capital market, just like American Express does,” O’Connor Hodgson explains. “We have very low-cost capital that we’re able to give that small business their revenue immediately. And then we’ve built a system that allows us to manage the cost and risk of that, because we’re going to then wait 30+ days to get paid.”

Today the Georgia-based company announced that it has raised $9.5 million in Series A funding. The round, led by Virgo Investment Group and featuring Cresset Capital Partners, will be used to help scale Now’s offerings. It comes as the pandemic has put even more of a strain on invoices for many companies. O’Connor Hodgson says the average wait time for invoice payment expanded from around 50 days to between 70-80.
— Read on techcrunch.com/2021/06/09/stacey-abrams-cofounded-fintech-company-now-raises-9-5m/

Twitter restricts accounts in India to comply with government legal request | TechCrunch

Twitter disclosed on Monday that it blocked four accounts in India to comply with a new legal request from the Indian government. The American social network disclosed on Lumen Database, a Harvard University project, that it took action on four accounts — including those of hip-hop artist L-Fresh the Lion and singer and song-writer Jazzy […]
— Read on techcrunch.com/2021/06/07/twitter-restricts-accounts-in-india-to-comply-with-government-legal-request/

What is Solana (SOL)? | Genesis Block

What is Solana (SOL)? Solana is a web-scale blockchain that provides fast, secure, scalable, decentralized apps and marketplaces.
— Read on genesisblockhk.com/what-is-solana/

DeFi ‘Yield Farming’: How To Get DeFi Yield, And Why Invest In It

Investors allocating to crypto are looking for yield, just like dividend paying stocks and bonds. It’s one of the best things about DeFi.
— Read on www.forbes.com/sites/kenrapoza/2021/06/06/defi-yield-farming-what-is-it-how-should-you-invest-in-it/

The US Federal Reserve begins looking into its own digital currency | Engadget

The US Federal Reserve is took a step toward developing a digital currency as it announced plans to publish a research paper on the subject..
— Read on www.engadget.com/us-federal-reserve-is-looking-closer-at-a-digital-currency-125534039.html

Instagram Is Looking To Create An NFT Platform But Is Overlooking Artists

Instagram is interested in building a platform to buy and sell NFTs, based emails sent to artists inviting them to be on a panel to discuss the space with Instagram’s product and development teams. Artists feel that they are being taken advantage of by not being properly compensated.
— Read on www.forbes.com/sites/jacksonweimer/2021/05/22/instagram-is-looking-to-create-an-nft-platform-but-is-overlooking-artists/

Will NFTs Transform Tattoos Into Bankable Art? – The New York Times

Scott Campbell is opening a marketplace where tattoos will be sold as digital tokens.
— Read on www.nytimes.com/2021/05/22/style/nft-art.html

Crypto industry faces regulatory scrutiny from SEC, CFTC, IRS, others – Protocol — The people, power and politics of tech

With bitcoin, dogecoin and other cryptocurrencies on a wild ride, regulators are looking at everything from banking to trading to tax regulations.
— Read on www.protocol.com/fintech/bitcoin-cryptocurrency-regulations

‘Jugular’ of the U.S. fuel pipeline system shuts down after cyberattack – POLITICO

‘Jugular’ of the U.S. fuel pipeline system shuts down after cyberattack – POLITICO
— Read on www.politico.com/news/2021/05/08/colonial-pipeline-cyber-attack-485984

“Blockchain Is a Perfect Record Keeper”: Could the Viral NFT Craze Help Countries Reclaim Their Stolen Art? | Vanity Fair

NFTs are a flashy new digital trend geared toward the über-rich. But some experts hope to harness their blockchain technology to prove the origins of artifacts taken by European nations—and potentially upend the stagnated pecking order of the art world.
— Read on www.vanityfair.com/news/2021/04/blockchain-is-a-perfect-record-keeper-could-the-viral-nft-craze-help-countries-reclaim-their-stolen-art