The full extent of the fallout on the crypto industry from the collapse of Sam Bankman-Fried’s FTX was yet to come out, Coinbase Global Inc Chief Financial Officer Alesia Haas told the Wall Street Journal on Wednesday. “What we are seeing now is a fallout of FTX is becoming much more like the 2008 financial crisis where it’s exposing poor credit practices and is exposing… Continue reading Full contagion impact of FTX collapse still to show, says Coinbase CFOThere will be a drive towards regulation both in the US and globally, she says.
Author: Deal Street Asia Online News
Germany-based Patrizia launches $1b Japan rental residential fundThe Singapore-domiciled fund is targeting Greater Tokyo and other major cities in Jap…
Patrizia, a German real estate investment manager, has set up a 1-billion-euro (around $1 billion)acquisition vehicle to hunt for core-plus and value-add opportunities in Japan’s multifamily sector, per an announcement. With fresh capital injection from a major Asian institutional investor, whose identity is not disclosed, the Singapore-domiciled fund is targeting Greater Tokyo and other major… Continue reading Germany-based Patrizia launches $1b Japan rental residential fundThe Singapore-domiciled fund is targeting Greater Tokyo and other major cities in Jap…
Cautious spending, retail partners help Grab hit EBITDA breakeven in deliveriesGrab partners retailers like Jaya Grocer in Malaysia and PT Trans Retai…
Investors in Southeast Asian superapp Grab — who have seen the price of the company’s Nasdaq-listed shares more than halve this year — may finally get to see light at the end of the tunnel. The Singapore-based company’s third quarter results showed some signs that the company is moving towards profitability, at least in some… Continue reading Cautious spending, retail partners help Grab hit EBITDA breakeven in deliveriesGrab partners retailers like Jaya Grocer in Malaysia and PT Trans Retai…
Dutch lender FMO mulls $50m loan for Mongolia’s XacBank
Dutch entrepreneurial development bank FMO has proposed extending a $50-million loan to XacBank, Mongolia’s fifth-largest bank in terms of total assets, it said in a disclosure. The proposed senior unsecured loan aims to fund the growth of XacBank’s SME portfolio, especially in green lending and loans to women-owned SMEs. Go to Source
Bankman-Fried begged for funds from Sequoia, Apollo Global in FTX’s frantic final daysSequoia was shocked at the amount of money ($7b) needed to save …
As customers withdrew billions of dollars from crypto exchange FTX one frantic Sunday this month, founder Sam Bankman–Fried worked the phones in a futile bid to raise $7 billion in emergency funds. Hunkered in his Bahamas apartment, Bankman–Fried toiled through the night, calling some of the world’s biggest investors, including Sequoia Capital, Apollo Global Management Inc and TPG Inc,… Continue reading Bankman-Fried begged for funds from Sequoia, Apollo Global in FTX’s frantic final daysSequoia was shocked at the amount of money ($7b) needed to save …
Abu Dhabi state fund Mubadala picks up strategic stake in Singapore’s AirCarbon
Abu Dhabi state fund Mubadala Investment Company confirmed on Wednesday that it has acquired a strategic stake in Singapore-based AirCarbon Exchange (ACX). Two sources close to the matter had earlier told Reuters about the deal. AirCarbon in February this year partnered with Abu Dhabi‘s financial freezone, Abu Dhabi Global Market (ADGM), to establish the first regulated carbon trading exchange and clearing house in the capital. Mubadala‘s acquisition supports the plan… Continue reading Abu Dhabi state fund Mubadala picks up strategic stake in Singapore’s AirCarbon
Singapore’s Temasek said to be writing down its FTX investment
Singapore state investor Temasek Holdings is writing down its entire investment in the embattled crypto bourse FTX, Bloomberg reported on Wednesday. The firm is understood to have invested between $200 million and $300 million in FTX, the report added. This follows a series of similar write-downs by FTX’s other investors including Sequoia Capital, SoftBank Group… Continue reading Singapore’s Temasek said to be writing down its FTX investment
Grab’s Q3 losses more than halve to $342m, revenue surges 143%Strong growth in the mobility and delivery segments lifted revenue.
Southeast Asian superapp Grab on Wednesday reported a net loss of $342 million for the third quarter of 2022 — an improvement of 65% from the $988 million loss posted in the year-ago quarter. Grab also reported revenues of $382 million in Q3 2022, up 143% from $157 million a year ago. On a constant… Continue reading Grab’s Q3 losses more than halve to $342m, revenue surges 143%Strong growth in the mobility and delivery segments lifted revenue.
Tencent to distribute $20.3b worth of Meituan shares as dividend amid drop in Q3 salesTencent’s Q3 revenue fell 2% to $19.8b.
Tencent Holdings said on Wednesday it would distribute its $20.3 billion stake in food delivery firm Meituan in dividend, as it reported a second straight quarterly sales drop, hit by economic slowdown and China’s regulatory crackdown. Tencent, the world’s largest video game company and the operator of the WeChat messaging platform, said it will transfer… Continue reading Tencent to distribute $20.3b worth of Meituan shares as dividend amid drop in Q3 salesTencent’s Q3 revenue fell 2% to $19.8b.
Temasek co-leads $35m pre-Series B round in China’s Lupeng Pharmaceuticals
Guangzhou-based Lupeng Pharmaceuticals, a clinical-stage firm that focuses on drug discovery and developing novel therapies for cancer, has snapped $35 million in the second tranche of its pre-Series B round. The round was led by Hangzhou-headquartered Kaitai Capital and Singapore state investor Temasek, Lupeng announced via its WeChat account. Lilly Asia Ventures, Fontus Capital,… Continue reading Temasek co-leads $35m pre-Series B round in China’s Lupeng Pharmaceuticals