Lending Club Woes Ease After Gaming Billionaire Discloses Stake

Shares of Lending Club (LC) jumped more than 10% in the stock market today after a group of companies controlled by a Chinese online gaming magnate disclosed a roughly 11.7% stake in the embattled online lender.

The disclosure marks the latest upbeat development for the financial technology industry, even amid concerns that the sector is overheated and underregulated. A new $380 million securitization bond from online lender SoFi got a best-possible triple-A rating from Moody’s, the

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