FASB Proposes Guidance on Stablecoins as Cash Equivalents
The Financial Accounting Standards Board proposed guidance allowing certain stablecoins to qualify as cash equivalents under U.S. accounting standards. The update would provide illustrative examples to promote consistent treatment of digital assets in financial reporting.
Read full story →Fifth Third Backs Payload’s Embedded Payments Expansion
Payload secured a strategic investment from Fifth Third to expand its embedded payments platform. The company processed nearly $500 million in May alone and has become a leading processor of earnest money deposits.
Nscale Targets $3 Billion IPO as AI Data Center Demand Soars
Nscale, an AI data center developer, plans to raise up to $3 billion through an initial public offering potentially occurring in September. The company is developing data centers as demand for AI infrastructure continues to grow.
Apollo Global Management Hit by Social Engineering Attack and Data Breach
A social engineering attack gave unauthorized parties access to Apollo Global Management's cloud platforms between July 6 and July 10. The breach compromised certain information stored on those platforms, though specific details about the data affected were not disclosed.