Stripe

Bloomberg: Filings and holdings data at the end of April show Fidelity Investments cut the valuation of Instacart by 50%, Reddit by 33%, ByteDance by 13% and Stripe by 13% — Fidelity Investments cut valuations for several closely held technology companies, including social media platform Reddit and payment software provider Stripe. Bloomberg: Filings and holdings data at the end of April show Fidelity Investments cut the valuation of Instacart by 50%, Reddit by 33%, ByteDance by 13% and Stripe by…

Welcome to The Interchange, a take on this week’s fintech news and trends. To get this in your inbox, subscribe here. We’ve all been keeping up with the recent drama of Stripe vs. Plaid. Rather than rehash all that here, I’ll point you to some of our recent articles on the topic and just summarize: The two fintech startups have recently grown (much) more competitive. If things weren’t turbulent enough, another startup has very publicly emerged as a formidable competitor to Stripe: Finix. Now, Finix is not coming out…

In recent online slide presentations, blog posts and social-media threads, venture-capital doyens including Lightspeed Venture Partners, Craft Ventures, Sequoia Capital and Y Combinator are telling the founders that they need to take emergency action for what could be the sharpest turn in more than a decade. Their advice includes cutting costs, preserving cash and jettisoning hopes that hedge funds or other investors will swoop in with big checks. “The boom times of the last decade are…

Stripe is testing a way for users to receive their payouts in cryptocurrency, starting with “a select group of creators on Twitter.” Creators who earn money through monetization features on the platform can now get their earnings in USD Coin (USDC) — a “stablecoin” cryptocurrency tied to the US dollar. Stripe is piloting the crypto payout option through the company’s payment processor, Stripe Connect, that customers can integrate into their online platform or marketplace. Crypto payouts will occur over the Polygon…