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Across the U.S. financial industry, a pattern is emerging of small lenders plowing into crypto and a variety of other hot niches, sending their stocks soaring and eventually crashing.

Because they have mature revenue streams or can support embedded finance, payment companies may find themselves favored by investors at a time when other tech firms are tightening their belts.

The move, which comes with an unspecified number of layoffs, is expected to cost the company $3.8 million to $4.6 million in pretax charges in the second quarter.

Thieves have become adept at exploiting digital vulnerabilities, conducting heists that resulted in more than $3 billion in losses last year.

The San Antonio-based organization said Don Ford is now president and will become after Lynn Kincaid retires in May.

Sam Bankman-Fried offered one of his most detailed descriptions yet of the FTX debacle as he prepares to fight fraud charges, blaming crashing markets and an attack from a rival for the eventual bankruptcy of his exchange.

Amex signed a deal to buy Nipendo, a Tel Aviv-based startup whose technology reduces business check usage by laying the groundwork to digitize payments between buyers and suppliers.

JPMorgan Chase is claiming the founder of Frank, a college financial-planning site the bank acquired in 2021, defrauded it by vastly inflating the number of customers the company had.

The shift opens the door for regional banks to increase their aggregation activities, analysts said.

After weaker-than-expected earnings in the third quarter of 2022, several large banks halted share repurchases in a bid to build capital.