OpenAI Wants to Delay Its IPO, Binance Is Getting Kicked Out of Europe, WorldPay Is Down;
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WorldPay went offline during England vs Ghana. Pubs, restaurants, Tesco — none of them could take card payments for hours. Transaction volumes in bars were up 148% that day. The cause was a third-party power grid disruption. Cash lines formed.
OpenAI is pushing its IPO to 2027. Sam Altman won't go public below a $1 trillion valuation while burning $21B a year and paying Google, Microsoft, and AWS for the compute it needs to compete against them.
Airwallex raised $320M at $11B, up from $8B in December. Revenue grew 74% to $1.3B annualized. A Ramp board member publicly called it a Chinese data backdoor. The CEO rejected it. Make of that what you will.
Meta is building a prediction market app. 3.5 billion daily users, AI-powered, starting with virtual points. The ad revenue and data play is obvious. Kalshi just raised at a $40B valuation, doubling from $22B two months ago.
Starling Bank deployed an AI agent running on Gemini that intercepts payments it suspects are fraud and asks the customer questions before the money moves. APP fraud hit $576M in the UK last year.
Binance suspended EU operations after failing to get a MiCA license from Greece, Latvia, or Ireland. Revolut immediately ran a campaign targeting their customers.