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Francesco Carta Fotografo | Moment | Getty ImagesCarnage in the crypto market won't let up, as token prices plummet, companies lay off employees in waves, and some of the most popular names in the industry go belly up. The chaos has spooked investors, erasing more than $2 trillion in value in a matter of months — and wiping out the life savings of retail traders who bet big on crypto projects billed as safe investments. The sudden drop in wealth has stoked fears that the crypto crash might help trigger a broader…

Starling CEO Anne Boden.Harry Murphy | Sportsfile for Web Summit via Getty ImagesAMSTERDAM — The boss of Goldman Sachs-backed digital bank Starling has doubled down on criticisms of crypto, calling digital currencies a threat to the safety of payment infrastructure."It is very dangerous," Anne Boden, who founded Starling in 2014, warned Tuesday at the Money 20/20 fintech conference in Amsterdam. Based in Britain, Starling offers fee-free checking accounts and loans through an app. The firm was last privately valued at…

Apple CEO Tim Cook poses for a portrait next to a line of new MacBook Airs as he enters the Steve Jobs Theater during the Apple Worldwide Developers Conference (WWDC) at the Apple Park campus in Cupertino, California on June 6, 2022.Chris Tuite | AFP | Getty ImagesA wholly owned subsidiary of Apple will check user credit and extend short-term loans to users for Apple Pay Later, the tech giant said.The new loan service, which will compete against similar offerings from Affirm and PayPal, was announced during Apple's…

Apple Pay Later will let users pay for things over four equal installments.Jakub Porzycki | Nurphoto | Getty ImagesAMSTERDAM — Apple's move into the crowded "buy now, pay later" space has raised the stakes for the fintech companies that pioneered the trend.The iPhone maker announced plans to launch its own "pay later" loans on Monday, expanding an array of financial services products which already includes mobile payments and credit cards. Called Apple Pay Later, the service will allow users to pay for things over four…

A WeRide robotaxi with health supplies heads to Liwan district on June 4, 2021, in the southern Chinese city of Guangzhou.Southern Metropolis Daily | Visual China Group | Getty ImagesBEIJING — While governments may be wary of driverless cars, people want to buy the technology, and companies want to cash in.It's a market for a limited version of self-driving tech that assists drivers with tasks like parking and switching lanes on a highway. And McKinsey predicts the market for a basic form of self-driving tech — known as…

Rimac Group, the Croatian company best known for its 1,900 horsepower Nevera electric sports car, said it has raised 500 million euros (about $537 million) from investors including Goldman Sachs, Porsche and a technology fund advised by Japan's SoftBank.The new funding round values Rimac at over 2 billion euros.Rimac made headlines last year when it agreed to take a controlling interest in Bugatti, the ultra-exclusive French automaker that had long been part of the Volkswagen Group. As part of that deal, Bugatti and…

An attendee identified as Emily, left, holds a candle during a candlelight vigil for Michelle Go at Portsmouth Square in San Francisco, Calif. Tuesday, Jan. 18, 2022.Stephen Lam | Getty ImagesSometime after Deloitte consultant Michelle Go was shoved to her death underneath a moving R train in January, another New York City resident swore off taking the subway.Instead of taking the No. 6 train to her desk at Dime Bank in midtown Manhattan, the woman, an Asian American manager in her late 30s, walks to work. The fear she…

A decade ago, Facebook told the public markets that it was pouring money into smartphone apps because mobile usage was key to the company's growth, even though it did "not currently directly generate any meaningful revenue" at the time.That was in the prospectus for its Nasdaq debut, which took place 10 years ago Wednesday and resulted in the largest initial public offering ever for a U.S. tech company. Facebook's $100 billion-plus market cap instantly made it one of the most valuable tech companies on the planet.But…

Elon Musk has a history of expressing strong opinions about hydrogen and hydrogen fuel cells. A few years ago, when the subject came up during a discussion with reporters at the Automotive News World Congress, the electric vehicle magnate described hydrogen fuel cells as "extremely silly."Jim Watson | AFP | Getty ImagesTesla CEO Elon Musk has reiterated his skepticism about hydrogen's role in the planned shift to a more sustainable future, describing it as "the most dumb thing I could possibly imagine for energy storage."…

Barry McCarthy, chief financial officer at Spotify, attend annual Allen & Company Sun Valley Conference, July 11, 2018 in Sun Valley, Idaho.Drew Angerer | Getty ImagesWhen Barry McCarthy showed up to run Peloton about three months ago, he was surprised to learn just how discombobulated the supply chain was and how quickly the company's cash coffers were shrinking."The nature of turnarounds is they are full of surprises," McCarthy told analysts on Tuesday, during his first post-earnings conference call with…