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The Brazilian fintech Stark Bank, backed by Jeff Bezos, has seen a significant rise in profits while effectively managing its funding.

What Happened: Stark Bank, a Sao Paulo-based company, has witnessed a three-fold increase in its payment processing business, reaching 155 billion reais ($31 billion) in 2023. This expansion has resulted in a doubling of the firms net income to 71.5 million reais, reported Bloomberg.

Despite this substantial growth, the company has kept its funding from its 2022 Series B round, which included investments from Bezos Expeditions, the family office of Amazon.com Inc AMZN founder Jeff Bezos, and Ribbit Capital, largely untouched.

The firms founder, Rafael Stark, who owns 38% of the company, has no plans to dilute his stake and is instead focused on creating long-term value.

"While a lot of tech companies are trying to stop losing money we're posting high levels of profitability," Stark, 35, said. "There's no need to keep raising money and diluting my stake. It's better to grow and create much more value further down the road."

See Also: NASA, The US Navy And The US Army Are All Partners Of This Cutting-Edge Company Laser Photonics Corporation

Stark Bank, which helps companies process payments, invoices, and receivables, is concentrating on capturing a larger share of the domestic market from major corporate banks. Despite its small market share in Brazil, the firm has shown potential for further growth.

Stark, who legally changed his surname to Stark on all official documents, is considering a potential initial public offering (IPO) around 2029, following a similar growth path to digital bank Nu Holdings. He is currently focused on expanding the companys presence in Brazil and Sao Paulo, where the countrys largest firms are located.

Why It Matters: The success of Stark Bank is a testament to the potential of the Brazilian fintech industry. This development also highlights the strategic investments made by Bezos in the Latin American startup scene.

Earlier this year, Bezos sold over $6 billion in Amazon stock, prompting speculation about his future plans. This move followed his investment in Perplexity, an AI startup aiming to challenge Googles dominance in internet search.

This news comes after Bezos was referred to as the most unusual business leader of our era by Amazon CEO Andy Jassy. Bezos unique approach to business and investment strategies has continued to yield results, as seen in Stark Banks success.

In January, a fund backed by Bezos exceeded $5 million in single-family home acquisitions. This further highlights Bezos successful investment strategies and the positive impact they are having on the companies he supports.

Read Next: Bitcoin, Ethereum, Dogecoin Trade Mixed Amid Soaring Demand For BTC ETFs: Analyst Forecasts King Crypto Surge To $600K By 2025, Matching 300 Ounces Of Gold

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Science

Earth’s Oceans Enter Danger Zone Due to Rising Acidification, New Study Warns

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June 15, 2025

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Earth’s Oceans Enter Danger Zone Due to Rising Acidification, New Study Warns

The oceans of Earth are in worse condition than it was, thought, said the scientists. This is because of the increased acidity levels that led the sea to enter the danger zone five years ago. As per the new study, oceans are more acidic by releasing carbon dioxide from industrial activities such as fossil fuel burning. This acidification of the oceans damages marine life and the ecosystem, in turn threatening the coastal human communities that are dependent on healthy waters for their life.

Oceans May Have Crossed the Danger Zone in 2020

In the study published on Monday, June 9, 2025, in the journal Global Change Biology, researchers have found that acidification is highly advanced tha it was considered in the previous years. Our oceans might have entered the danger zone in the year 2020. Previous research suggested that the oceans of Earth were approaching a danger zone for ocean acidification.

How Ocean Acidification Happens

Ocean acidification is driven by the absorption of ocean of excess CO2 into the ocean, which is rapidly contributing to the global crisis. CO2 dissolves in seawater, forming carbonic acid, lowering pH levels and invading the vital carbonate ions. This threatens the species in the water, such as corals and shellfish, which depend on calcium carbonate to build their skeletons and shells.

The Planetary Boundary May Be Breached

Recent research depicts that the ocean acidification levels may now be breached, crossing the previous estimate of a 19% aragonite decline from the previous industrial levels. Scientists are alarmed that this change could destabilise the ecosystems of marine and, in turn, the coastal economies. This is a ticking bomb with socioeconomic and environmental consequences.

Global Consequences of Acidification

The recent findings suggest that scientists have feared in the past. Ocean acidification has reached dangerous levels, exceeding the limit that is needed to maintain a healthy and stable environment. As critical habitats degrade, the rippling effects are expected to cause harm to biodiversity, impact food security for many of the people who depend on the oceans for their livelihood.

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Science

NASA Chandra Spots Distant X-Ray Jet; Telescope Faces Major Budget Cuts

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2 hours ago

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June 15, 2025

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NASA Chandra Spots Distant X-Ray Jet; Telescope Faces Major Budget Cuts

NASA’s Chandra X-ray Observatory has detected an enormous X-ray jet from quasar J1610+1811, observed at a distance of about 11.6 billion light-years (roughly 3 billion years after the Big Bang). The jet spans over 300,000 light-years and carries particles moving at roughly 92–98% of the speed of light. It is visible in X-rays because high-energy electrons in the jet collide with the much denser cosmic microwave background at that epoch, boosting microwave photons into X-ray energies. These results were presented at the 246th AAS meeting and accepted for publication in The Astrophysical Journal.

Discovery of the Distant X-ray Jet

According to the study, Chandra’s high-resolution X-ray imaging, combined with radio data, allowed the team to isolate the jet at such a great distance. At the quasar’s distance (about 3 billion years after the Big Bang), the cosmic microwave background was much denser. As a result, relativistic electrons in the jet efficiently scatter CMB photons to X-ray energies. From the multiwavelength data the researchers infer that the jet’s particles are moving at roughly 0.92–0.98 c. Such near-light-speed outflows are among the fastest known.

These powerful jets carry enormous energy into intergalactic space and provide a unique probe of how black holes influenced their surroundings during the universe’s early “cosmic noon” era.

Chandra’s Future at Risk

However, the Chandra mission now faces possible defunding: NASA’s proposed budget calls for drastic cuts to its operating funds. For nearly 25 years, Chandra has been a cornerstone of X-ray astronomy, so its loss would constitute a major setback. The SaveChandra campaign warns that losing Chandra would be an “extinction-level event” for U.S. X-ray astronomy. Scientists warn that ending Chandra prematurely would cripple X-ray science.

Andrew Fabian commented Science magazine, “I’m horrified by the prospect of Chandra being shut down prematurely”. Elisa Costantini added in an interview with Science that if cuts proceed, “you will lose a whole generation ” and it will leave “a hole in our knowledge” of high-energy astrophysics. Without Chandra’s capabilities, many studies of the energetic universe would no longer be possible.

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Politics

Vietnam legalizes crypto under new digital technology law

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3 hours ago

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June 15, 2025

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Vietnam legalizes crypto under new digital technology law

Vietnam legalizes crypto under new digital technology law

Vietnam has passed a sweeping digital technology law that legalizes crypto assets and outlines incentives for AI, semiconductors, and infrastructure.

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