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YC-backed digital bank Onyx Private tells customers it's closing their accounts TechCrunch Fintech
In a March 13 email to a customer viewed by TechCrunch, with a subject line that read: 'Important Notice: Termination of Bank Operations and Account Closure' Onyx wrote, 'We are writing to inform you of our decision to discontinue our services and initiate the closure of all associated accounts* starting today.' He said Onyx will be shifting to a 'B2B white-label platform-as-a-service model for community banks, regional banks, and credit unions' that want to launch digital apps built for young affluent consumers. Santos claimed that Onyx had been exploring the idea over the past year and had made developments with some partners. Less than a year ago in May, the startup announced that it had raised $4.1 million in venture funding from investors such as Village Global, Y Combinator, Global Founders Capital, One Way Ventures, 186 Ventures and Olive Tree Capital. At that time, the company said that since its launch nearly a year prior, Onyx Private ' which said it wanted to be the 'next generation UBS' ' had grown 30% month over month and was processing over $4 million in transaction payment value per month. It also claimed to be nearing $5 million in TPV....
Scientists sound warning on Great Barrier Reef bleaching and other nature and climate stories you need to read this week
Following a warning last week about bleaching on the world's coral reefs, researchers in Australia have added their own, after finding coral bleaching in the far northern parts of the Great Barrier Reef. "It was quite devastating to see just how much bleaching there was, particularly in the shallows... (but) they were all still at the stage of bleaching where they could still recover as long as the water temperatures decline in time," lead researcher Maya Srinivasan told Reuters. The European Commission has warned that the European Union needs to step up preparations for climate change risks. Rising temperatures carry risks from food security to financial stability, the commission warned. It comes in response to an 11 March report from the European Environment Agency (EEA) which called on EU nations to prepare for 'catastrophic risks'. For example, by the end of the century, rising sea levels could trigger coastal flooding causing damage in excess of 1 trillion Euros per year, the EEA said....
YouTube now requires creators to disclose when realistic content was made with AI | TechCrunch
YouTube is now requiring creators to disclose to viewers when realistic content was made with AI, the company announced on Monday. The platform is introducing a new tool in Creator Studio that will require creators to disclose when content that viewers could mistake for a real person, place or event was created with altered or synthetic media, including generative AI. The new disclosures are meant to prevent users from being duped into believing that a synthetically-created video is real, as new generative AI tools are making it harder to differentiate between what's real and what's fake. The launch comes as experts have warned that AI and deepfakes will pose a notable risk during the upcoming U.S. presidential election. YouTube says the new policy doesn't require creators to disclose content that is clearly unrealistic or animated, such as someone riding a unicorn through a fantastical world. It also isn't requiring creators to disclose content that used generative AI for production assistance, like generating scripts or automatic captions....
How cities are tackling the silent killer of air pollution
Air pollution kills 13 people every minute worldwide and evidence continues to reveal new connections between polluted air and adverse health effects. As urbanization increases and air quality deteriorates, addressing emissions to protect public health is critical. Cities worldwide are increasingly taking action to counter air pollution. 50 cities participating in C40's Cities Clean Air Accelerator and 35 cities from C40's Green and Healthy Streets Accelerator are committed to launching innovative strategies and bold initiatives to clean their air and protect the wellbeing of residents. The last five years have seen growth in new initiatives to reduce air pollution, from vehicle-access restrictions to electrification of public bus fleets and mitigation of on-site emissions from buildings. Transportation is a significant contributor to urban air pollution, prompting many mayors to implement stricter measures, such as restricting polluting vehicles from entering certain areas or entire cities. These actions, integral to broader initiatives aimed at achieving climate objectives and enhancing urban mobility, are transforming cities into healthier, more liveable communities....