Chime Financial, Inc. Class A Common Stock

Chime Financial's chief financial officer Matthew Newcomb sold 65,000 shares of Class A Common Stock at $30.17 per share on August 6, totaling approximately $2.0 million, and stepped down the following day. The sale was executed under a Rule 10b5-1 trading plan adopted on August 25, 2025, reducing his indirect holdings by 3% while his direct ownership remained unchanged. Newcomb retains a total beneficial interest of about 2.7 million shares, including 478,172 directly held and roughly 2.2 million indirectly held through the 2019 Newcomb Fox Family Trust. The departure coincided with Chime reporting second-quarter revenue growth of 27% to $670 million, its second straight quarter of GAAP profitability at $28 million, and a raised full-year revenue outlook, while also announcing a roughly 10% staff reduction and naming President Mark Troughton as interim CFO.

Elon Musk's X Money is launching with a feature set that positions it as a full financial hub rather than a simple payments app. The service offers a 6% annual percentage yield on cash deposits with no stated limit, up to $10 million in aggregate FDIC insurance through a multi-bank sweep program, and unlimited 3% cash back on a metal Visa card. Additional features include free domestic wires, bill payments, mailed checks, ATM fee reimbursements, early direct deposit, and instant peer-to-peer payments to any handle on X. The offering puts pressure on traditional banks like JPMorgan Chase and Bank of America, as well as fintech rivals such as SoFi, Robinhood, PayPal, Block, and Chime.

The Trump administration is expected to launch Trump Accounts next week without allowing firms to host the children's savings accounts on their own platforms, Semafor reported, citing people familiar with the discussions. Companies including Chime, Empower, Fidelity, and SoFi had hoped to receive approval to roll over the accounts from the Treasury Department's app, developed in partnership with Bank of New York Mellon and Robinhood, in time for the program's launch. Those firms are now expecting guidance by August at the latest, one of the people told Semafor. Trump Accounts provide eligible American children with tax-advantaged investment accounts, with eligible children born from 2025 through 2028 qualifying for an initial $1,000 contribution from the U.S. Treasury, and family, friends, and employers able to collectively contribute up to $5,000 per year. According to experts cited by Semafor, more than half of the children eligible for the program's $1,000 seed deposit have yet to enroll.