President Joe Biden’s nominee for vice chair of supervision at the Federal Reserve, Sarah Bloom Raskin, was grilled during her confirmation hearing regarding her work as director of Reserve Trust. So reports The Hill.

After intense regulatory scrutiny, Facebook is winding down its ambitious Diem Association cryptocurrency project. So reports The Wall Street Journal.

SAP will acquire a majority stake in the U.S. fintech Taulia with the hope of expanding its footprint in the working capital management and supply-chain financing spaces. So reports Reuters.

A new fintech created and supported by retail giant Walmart will be acquiring two new companies and rebranding itself as an entity called ONE. So reports CNBC.