Mercury, a Fintech Startup Facing Regulatory Scrutiny, Launches into the World of Consumer Banking

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Business banking startup Mercury, founded in 2020, is now launching a consumer banking product. “We already have a few hundred thousand users of our business banking product, and a lot of people have expressed that they want a personal banking product,” he told TechCrunch in an interview. The person also said the fintech partner banking market as a whole has been the target of more regulatory scrutiny. Crossing overBut success in B2B banking doesn’t automatically queue up Mercury to handle consumer banking. Sign up for TechCrunch Fintech here.

“Examining the Resurgence of Cruise Robotaxis and the Controversy Surrounding Ford’s BlueCruise on TechCrunch Mobility”

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TechCrunch Mobility: Cruise robotaxis return and Ford’s BlueCruise comes under scrutiny Plus, a Faraday Future whistleblower case and humanoid robots in car factoriesWelcome back to TechCrunch Mobility — your central hub for news and insights on the future of transportation. Sign up here — just click TechCrunch Mobility — to receive the newsletter every weekend in your inbox. It was another wild week in the world of transportation, particularly in the EV startup and automated driving industries. Exoes, a French-based startup that developed battery cooling technology for EVs, raised €35 million ($37.5 million) from BpiFrance and Meridiam Green Impact Growth Fund. Both former employees have filed lawsuits claiming the troubled EV company has been lying about some of the few sales it has announced to date.

“Major Platforms Under EU Scrutiny: Examining GenAI Risks before Elections”

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The eight platforms are designated as very large online platforms (VLOPs) under the regulation — meaning they’re required to assess and mitigate systemic risks, in addition to complying with the bulk of the rules. These will test platforms’ readiness to deal with generative AI risks such as the possibility of a flood of political deepfakes ahead of the June European Parliament elections. It’s recently been consulting on election security rules for VLOPs, as it works on producing formal guidance. Which is why it’s dialling up attention on major platforms with the scale to disseminate political deepfakes widely. The Commission’s RFIs today also aim to address a broader spectrum of generative AI risks than voter manipulation — such as harms related to deepfake porn or other types of malicious synthetic content generation, whether the content produced is imagery/video or audio.

Amidst India’s Cryptocurrency Scrutiny, WazirX Volumes Take a Sharp Plunge

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The trading volume at top Indian crypto exchange WazirX fell to $1 billion in 2023 as the platform faced intensifying regulatory pressure in its home market alongside a broader slump for digital asset prices — and equities — globally. WazirX, which has had a dispute with Binance over the Indian firm’s ownership, put a positive gloss on the latest figures, touting the $1 billion trading tally in a public statement Tuesday. The 97% plunge in trading volume comes as WazirX faces mounting regulatory pressures from Indian authorities that have left the country’s once-burgeoning crypto sector fighting for survival. India began taxing virtual currencies last year, levying a 30% tax on the gains and a 1% deduction on each crypto transaction. India’s intensifying regulatory crackdown on cryptocurrencies has cast a chill over local investors once eager to back the country’s crypto startups.