Binance has registered $1.9 billion of withdrawals in the past 24 hours, blockchain data firm Nansen said on Tuesday, as the world’s biggest crypto exchange said it had “temporarily paused” withdrawals of the USDC stablecoin. How crypto exchanges such as Binance and its now-bankrupt former rival FTX handle customer deposits is under close scrutiny from… Continue reading Binance withdrawals hit $1.9b in 24 hours, Nansen data saysThe crypto exchange said it had “temporarily paused” withdrawals of the USDC stablecoin.
Author: Deal Street Asia Online News
SBICAP Ventures in talks to rope in two large institutional LPs for Neev Fund 2The objective of the fund is to create an infrastructure for backward I…
SBICAP Ventures, a subsidiary of India’s largest lender State Bank of India (SBI), has extended the window to close its second climate fund by six months to June 2023, its MD & CEO Suresh Kozhikote told DealStreetAsia in an interview. The asset manager is currently on the road to raise the remaining Rs 800 crore… Continue reading SBICAP Ventures in talks to rope in two large institutional LPs for Neev Fund 2The objective of the fund is to create an infrastructure for backward I…
SE Asia Deal Review: Startup fundraising falls below $1b for the first time this year in Nov
November was the worst month so far this year for Southeast Asia’s startups in terms of both fundraising value and volume, show proprietary data compiled by DealStreetAsia. Startups in the region amassed a mere $743 million from 67 transactions — venture capital, private equity, debt financing, and corporate rounds — last month, marking the first time… Continue reading SE Asia Deal Review: Startup fundraising falls below $1b for the first time this year in Nov
Asia PE exit activity dries up in 2022 as investors hold out for better market conditions
Private equity exit activity in Asia hit the cool-down phase in 2022 as the broader macro environment continued to be less promising marked by inflation, rate hikes, global recession fears, and market volatility. Against this backdrop, investors were left with little choice but to extend their holding periods or accept lower returns on their investments.… Continue reading Asia PE exit activity dries up in 2022 as investors hold out for better market conditions
IFC weighs $20m quasi-equity investment in Vietnamese retailer GS25 VN
World Bank Group member International Finance Corporation (IFC) is considering a quasi-equity investment of 460 billion dongs (about $20 million) in Vietnamese convenience store chain operator GS 25 Ltd (GS25 VN). In a disclosure, IFC said the proposed investment will support GS25 VN’s expansion of new convenience stores in Vietnam in the 2022-2025 period. Go… Continue reading IFC weighs $20m quasi-equity investment in Vietnamese retailer GS25 VN
Thai unicorn Line Man Wongnai in talks to buy Foodpanda’s local unit: reportFoodpanda Thailand was initially valued at $100m in the talks, Bloomberg r…
Thailand-based food delivery platform and unicorn Line Man Wongnai is said to be in talks to take over the local unit of Foodpanda, Bloomberg reported on Tuesday citing sources familiar with the discussions. The report added that Foodpanda Thailand, owned by Delivery Hero SE, was previously valued at $100 million but the potential deal size… Continue reading Thai unicorn Line Man Wongnai in talks to buy Foodpanda’s local unit: reportFoodpanda Thailand was initially valued at $100m in the talks, Bloomberg r…
China said to be working on $143b package for local chip firms in the face of US curbsThe incentives will come as subsidies and tax credits.
China is working on a more than 1 trillion yuan ($143 billion) support package for its semiconductor industry, three sources said, in a major step towards self-sufficiency in chips and to counter US moves aimed at slowing its technological advances. Beijing plans to roll out what will be one of its biggest fiscal incentive packages over… Continue reading China said to be working on $143b package for local chip firms in the face of US curbsThe incentives will come as subsidies and tax credits.
Abu Dhabi’s ADNOC invites banks to pitch for IPO of its gas business unit
Abu Dhabi National Oil Company (ADNOC) has invited investment banks to pitch for roles in the initial public offering (IPO) of its gas business next year, two sources familiar with the matter told Reuters. Bankers familiar with the matter said a request was sent to a select number of banks last week for proposals to… Continue reading Abu Dhabi’s ADNOC invites banks to pitch for IPO of its gas business unit
Geely’s premium electric car brand Zeekr files for IPO in the US
China’s Geely Automobile Holdings Ltd said on Tuesday its electric car brand, Zeekr, had confidentially filed for a U.S. initial public offering, in what would be the first major Chinese listing in the country in nearly two years. Zeekr filed with U.S regulators last week, without providing any details on the size of its IPO or about… Continue reading Geely’s premium electric car brand Zeekr files for IPO in the US
India’s Bumble Bee raises $37m to manufacture autonomous air taxis
Air mobility startup Bumble Bee Flights on Tuesday said it has raised $37 million (Rs 300 crore) from UK-based technology conglomerate SRAM & MRAM Technologies and Resources Ltd. The Bangalore-based firm was founded earlier this year by serial entrepreneur Arjun Das, who previously co-founded the video analytics platform Nymo Technologies. With the new funds, the… Continue reading India’s Bumble Bee raises $37m to manufacture autonomous air taxis