IMD Tech News

Upgrade Valued at $7.3 Billion in Latest Funding Round as IPO Plans Advance

Upgrade has secured $165 million in new funding, valuing the fintech startup at $7.3 billion. CEO Renaud Laplanche indicates the company is 12-18 months from an IPO while reporting annualized revenue exceeding $1 billion.

Fintech Unicorn Upgrade Reaches $7.3 Billion Valuation

Online lending platform Upgrade, founded by LendingClub creator Renaud Laplanche, has reportedly reached a $7.3 billion valuation following a new $165 million funding round. According to reports, the investment was led by Neuberger Berman with participation from LuminArx Capital Management, marking the company’s first capital raise since 2021.

by Aaron BlakeOctober 16, 2025November 2, 2025

Cybersecurity Energy Policy

DOJ Seizes $15 Billion Bitcoin in Historic Pig Butchering Scam Case

The Department of Justice has seized approximately $15 billion in bitcoin from a massive pig butchering scam based in Cambodia. Alleged mastermind Chen Zhi remains at large after indictment unsealed in Brooklyn federal court. This marks the largest forfeiture action in DOJ history.

In a landmark enforcement action, the Department of Justice has seized approximately $15 billion worth of bitcoin connected to a massive pig butchering scam operation based in Cambodia, marking the largest forfeiture action in the agency’s history. The seizure targets assets controlled by alleged fraud mastermind Chen Zhi, whose indictment was unsealed Tuesday in federal court while he remains at large according to prosecutors.

Massive Pig Butchering Operation Uncovered

by Aaron BlakeOctober 14, 2025November 2, 2025

Assistive Technology Business Acquisition

Apple Copyright Infringement Lawsuit Over AI Training Faces New Class Action

Apple confronts a new class action lawsuit alleging copyright infringement in training its AI systems. Two neuroscience professors claim Apple used their registered works without authorization through shadow libraries and web-crawling software.

Apple faces another significant copyright infringement lawsuit as the company confronts fresh allegations of using pirated books to train its artificial intelligence systems. Just one month after previous copyright claims, two neuroscience professors from SUNY Downstate Health Sciences University have filed a proposed class action lawsuit against the tech giant, marking an escalating legal challenge for Apple Inc. in the rapidly evolving AI landscape.