Battered German fintech company Wirecard AG said it is filing for insolvency proceedings, days after revealing that more than $2 billion in cash missing from its balance sheet probably didn't exist.
The move is the latest in a startlingly swift unwind for a company that until recently was a shining star in Europe's tech scene. Wirecard would be the first insolvent company in the DAX 30, Germany's premier stock-market index.
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