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Bux launches ‘BUX Zero’ to begin offering fee-free trading in Netherlands – TechCrunch



Bux, the Amsterdam-based fintech that wants to make investing more accessible, is launching its fee-free trading app today.

Dubbed “BUX Zero,” the new offering is available first to users in the Netherlands who previously signed up to the wait-list. Further European launches are to follow, with Germany and Austria up next.

The BUX Zero app promises to demystify investing in public markets for people who perhaps haven’t done so before, and also make it cheaper.

“It will offer a unique combination of a simplified investing experience along with a vibrant community where they can follow, learn from fellow investors and explore new investing opportunities,” Nick Bortot, CEO and founder of Bux, told TechCrunch in June.

In addition, the idea is by removing fees it makes investing small sums more viable — a high fee per buy/sell can make it prohibitively expensive to do so.

At launch, both market orders and limit orders are commission-free until the end of this year, after which Bux will charge €1 and €2 per order, respectively.

A “market order” executes as quickly as possible at the market price, and a “limit order” sets the maximum/minimum price you are willing to buy or sell.

Once the special offer ends, BUX Zero will also introduce a third order type called a “basic order”, which will be commission-free “forever” and is executed at a fixed time, once per day.

A subscription plan is also being tested. This will give BUX Zero users the option of paying a fixed monthly fee to get access to unlimited commission-free market, limit and basic orders. “The subscription fee will be lower than the commission of a single transaction at a traditional online broker,” says Bux.

All of this is made possible because, like a number of competitors, such as Freetrade, Bux recently brought its brokering in-house.

Bortot has previously said this gives the company control over “the full value chain,” including a full brokerage license, back-end technology and operation — and, of course, lowers overheads per trade.

It’s a similar argument made by challenger banks that have built out their own banking stack.

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Few U.S. lawmakers hit ‘like’ button after Facebook CEO visits Capitol Hill




WASHINGTON (Reuters) – Facebook CEO Mark Zuckerberg wrapped up three days of discussions with Washington movers and shakers on Friday, with few if any indications he had won new “friends” to help the top social media company deal with multiple probes by Congress, state attorneys general and federal regulators.

FILE PHOTO: Facebook CEO Mark Zuckerberg testifies before a House Energy and Commerce Committee hearing regarding the company’s use and protection of user data on Capitol Hill in Washington, U.S., April 11, 2018. REUTERS/Leah Millis/File Photo

Zuckerberg, Facebook’s founder, won some praise for agreeing to lengthy talks behind closed doors with officials ranging from President Donald Trump to a long list of lawmakers.

Trump posted a photo with Zuckerberg on Twitter and called their Oval Office session on Thursday a “nice meeting.” Facebook called Zuckerberg’s discussion with Trump “a good, constructive meeting” but neither side disclosed specifics.

The company faces a barrage of criticism from members of both parties and the public over issues ranging from political bias to privacy lapses, election-related activity and its dominance in online advertising.

An advertising powerhouse, Facebook also faces antitrust investigations by the Federal Trade Commission and a number of state attorneys general, as well as numerous legislative proposals that seek to restrict how it operates. Facebook may also face an antitrust probe by the U.S. Justice Department.

Senator Mark Warner, a Democrat who arranged a dinner for Zuckerberg with other senators Wednesday night, told Fox Business Network, “Facebook leadership realizes that failure to have federal legislation (on internet issues) is actually going to hurt them and the whole platform industry in the long run.”

After the dinner, Democratic Senator Richard Blumenthal said he had brought up Facebook’s “repeated failures” in election security and consumer privacy. “We had (a) serious, substantive conversation even when we may have differed,” he said in a statement.

Another critic was Senator Josh Hawley, a Republican who has accused Facebook of suppressing conservative speech. After meeting with the Facebook founder Thursday, Hawley said discussions had been “frank,” often a euphemism for contentious.

Hawley urged Zuckerberg to sell Facebook’s Instagram and WhatsApp units, which would limit how much information it could compile about an individual.

“Safe to say he was not receptive to those suggestions,” Hawley said dryly.

Zuckerberg was in no mood to talk to reporters between meetings, refusing over and over again to offer even the barest assessment of the discussions.

Also on Friday, Facebook said it had suspended tens of thousands of apps on the social networking platform, its first major update on an ongoing app developer audit it began in March 2018 to prevent a repeat of the Cambridge Analytica scandal.

Rep. David Cicilline, chair of the U.S. House Judiciary Committee’s antitrust panel, said Friday that Zuckerberg pledged cooperation with the panel’s probe into online markets.

The House of Representatives Judiciary Committee opened an investigation into competition in digital markets in June, one of a series of investigations facing big tech companies like Inc, Apple Inc, Facebook and Alphabet Inc’s Google.

FILE PHOTO: Facebook CEO Mark Zuckerberg testifies before a House Energy and Commerce Committee hearing regarding the company’s use and protection of user data on Capitol Hill in Washington, U.S., April 11, 2018. REUTERS/Aaron P. Bernstein/File Photo

Last week, the panel demanded emails, detailed financial information and other company records from the four companies’ top executives. They have until Oct. 14 to produce the documents.

While lawmakers like Hawley and Blumenthal seemed unsatisfied with Zuckerberg’s responses, Senator Doug Collins, the top Republican on the Judiciary Committee, took a milder tack.

“I encouraged him to come to the table, help us out — and this is not an adversarial role from my perspective,” Collins said, noting they did not discuss whether Facebook will comply with the document requests. “I think with their involvement you are going to see a lot more participation.”

Writing by Diane Bartz; Additional reporting by Katie Paul; Editing by Marguerita Choy and David Gregorio

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Alyssa Thomas Is One of a Kind of a Big Deal in the W.N.B.A.




UNCASVILLE, Conn. — In theory, it should be possible to slow down or even stop Alyssa Thomas, the hybrid 6-foot-2 forward for the Connecticut Sun.

Plagued by significant injuries to both her shoulders, Thomas is unable to raise her arms above her head right now. Yet the often-overlooked Thomas is the player no one on the star-studded Los Angeles Sparks frontcourt can stop as the semifinal series shifts to Game 3 on Sunday — and the player who has posted a pair of double-doubles over the past week to lead the Sun to within one win of the W.N.B.A. finals.

Thomas draws comparisons to many of the best in the N.B.A. and W.N.B.A. alike, yet she possesses a game entirely her own.

“I’ve had to change my game,” Thomas said, sitting at her locker after posting 12 points and 13 rebounds in Thursday night’s Game 2 win. “At Maryland, I was all about mid-range jumpers, doing all of that. And I know how people are going to play me. But I do have a full game, and I do attack really hard. So despite how people are playing me, I still can find my way to the rim.”

People struggle for easy analogues to Thomas. She finds open teammates, an additional playmaker on a starting five with a more traditional point guard in Jasmine Thomas and a combo guard, Courtney Williams, who reached a career-best assist percentage this year.

Miller, after Game 1, compared her to Candace Parker, another forward capable of running her team’s offense. But Parker’s array of shots, her length and her rim protection are of a fundamentally different shape than Thomas’s overall contributions.

Thomas’s college coach, Brenda Frese, compared her to LeBron James, with his ability to physically overwhelm opponents. Frese knew she had found someone special when she first saw Thomas play in high school, and skipped a U.S.A. Basketball event to go see Thomas instead at the Battle of Baltimore, a local tournament.

CreditEthan Miller/Getty Images

“I had chills,” Frese said. “I instantly knew, just watching her in the layup line warming up. I couldn’t wait for the game to start. … What separates Alyssa is her speed, power and competitiveness. You cannot stop her in the open court in transition.”

Thomas’s success is also a fortuitous meeting of player skill and a larger basketball moment. She played well as a rookie for the Sun in 2014 under then-coach Anne Donovan, but Donovan plugged her into a more traditional power forward role. Only after Miller took the helm in 2016 did an offense tailored to Thomas’s facilitating skill set begin to take shape.

There’s just one outcome to expect — success — when Thomas collects the ball, as she often does, off the defensive glass, and smoothly rumbles up the court as a facilitator. But good things can also happen out of an array of outlet passes, most remarkably, the 70-foot bounce pass she has used since her high school days. No one taught her to throw those. No coach would, Frese said.

“She definitely had that mastered before coming to Maryland,” Frese said. “When I see a player that is that powerful you definitely want them to have the green light to play to their strengths. I am fortunate that I have been able to coach only a few players that do possess those talents, but it’s not something I would teach as it takes a special gift to be able to do so.”

Those gifts came in part from an upbringing by two collegiate basketball-playing parents, Tina Klotzbeecher-Thomas and Bobby Thomas, both of whom played at Division II Millersville. But Thomas said she was undersized for much of her childhood, and so her parents pushed her to acquire guard skills, just in case the expected growth spurt for the progeny of a 6-foot-4 father and 5-foot-10 mother never came to pass.

Fortunately for Maryland, and now the Sun, she grew. And the net result is a rebounder who managed to grab 13 boards on a Thursday night the Sparks totaled just 24, and 15 fast break points for a team that operates in transition more, per Synergy, than any W.N.B.A. team other than the Las Vegas Aces.

Her bravado may not be as pronounced as her teammate Williams’s, her skills as easily recognized as the 6-foot-6 center Jones. But the inevitability of Thomas’s success has never been clearer.

“I don’t care who’s in front of me, how tall you are, I will find a way,” Thomas said. “And if you block my shot, I’m coming right back at you.”


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Get advice on the latest growth tactics from Demand Curve at Disrupt SF – TechCrunch




We’re going to try something new at Disrupt this year, based on the great response we’ve been getting to our startup how-to coverage. We’re going to put service provider experts on our Q&A stage, where you can talk to them directly in-person about key topics like growth, fundraising and recruiting.

To help kick off this experiment, we’ve asked growth marketing expert Asher King Abramson to lead a session where he’ll tear down your landing pages and Facebook/Instagram ads in front of a live audience. He’ll deconstruct how effective they are at (1) conveying what you do (2) and doing so enticingly — so that people click.

If you’re attending Disrupt and want to participate, you can submit your assets to for him to consider.

Get your Disrupt tickets here (you’ll also get a very large discount on an Extra Crunch subscription).

If you’re not familiar, Abramson is the cofounder of Bell Curve, a growth marketing agency widely used by Y Combinator companies and others around Silicon Valley and the world, the cofounder of Demand Curve (YC s19), and a frequent industry speaker on growth (you can see some of his webinars here). We recently named Bell Curve to Verified Experts, our growing list of service providers who startups love to work with, based on founder recommendations. You may also be familiar with his cofounder, Julian Shapiro, a columnist here at TechCrunch who has covered topics for us including trends in paid channel ad prices, how well different sectors monetize and now a regular column featuring tips from across top growth marketers.

This focus on growth is part of our larger orientation towards building great companies via coverage in our new Extra Crunch subscription product.

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