Shares in Japan’s SoftBank Group Corp plunged on Monday after the company reported a heavy loss at its Vision Fund investment arm for a third consecutive quarter. The shares sank 13% in early afternoon trade – heading for their biggest one-day loss in more than two and a half years. Analysts said, however, that the share price slide was in part a pullback from a steep rally that had been driven… Continue reading SoftBank shares crash on hefty Vision Fund losses
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Tesla China responds to dramatic crash that kills two [video]
Tesla will assist Chinese authorities in investigating a dramatic Tesla Model Y crash in Guangdong, China, which killed two and injured three. But rumors have been flying on social media with potential causes of the crash, most of which are untrue or impossible. The accident happened on November 5, and video has been circulating on… Continue reading Tesla China responds to dramatic crash that kills two [video]
People Digest: Circles names chief business officer; Northern Trust appoints APAC head of digital assetsBrian Finn joins Circles, while Alvin Chia mov…
Warburg Pincus-backed Circles has appointed Brian Finn as chief business officer, while Chicago-based Northern Trust has appointed Alvin Chia as its head of Digital Assets Innovation for Asia-Pacific. Brian Finn joins Circles as chief business officer Singapore-based telco Circles has appointed Brian Finn as chief business officer, according to an announcement. In this role, Finn… Continue reading People Digest: Circles names chief business officer; Northern Trust appoints APAC head of digital assetsBrian Finn joins Circles, while Alvin Chia mov…
Binance CEO calls for stable, clear regulations for crypto industry
Dominant cryptocurrency exchange Binance‘s chief executive Changpeng Zhao called for new but stable and clear regulations for the industry, in light of recent developments and participants “cutting corners”. “We’re in a new industry, we’ve seen in the past week, things go crazy in the industry,” Zhao told a gathering of G20 leaders at the summit in Bali. “We do need some regulations, we… Continue reading Binance CEO calls for stable, clear regulations for crypto industry
SG’s Spenmo said to be negotiating down round with investors
Singapore-based spend management software firm Spenmo is negotiating a down round less than a year after closing its Series B fundraise led by Tiger Global, sources privy to the matter told DealStreetAsia. The startup had closed its Series B round at $85.35 million in January, which had pegged its post-money valuation at $500 million. Go… Continue reading SG’s Spenmo said to be negotiating down round with investors
Germany’s BioNTech to set up mRNA vaccine facility in Singapore
BioNTech, the German biotech that developed a widely used COVID-19 vaccine with Pfizer Inc, acquired a manufacturing facility in Singapore, its first in Asia, the company said on Monday. The facility, bought from a Novartis unit, will be its first messenger ribonucleic acid, or mRNA, facility in Singapore and support its vaccines production for the Asia Pacific region, BioNTech said in a statement, without disclosing financial details. MRNA vaccines, which… Continue reading Germany’s BioNTech to set up mRNA vaccine facility in Singapore
The Hunt for the FTX Thieves Has Begun
That means it will be very difficult for the thieves to abscond with their profits in a spendable form without being identified, says Michelle Lai, a cryptocurrency privacy advocate, investor, and consultant who says she’s been tracking the movements of the stolen FTX funds with “morbid fascination.” But the real question, Lai says, is whether… Continue reading The Hunt for the FTX Thieves Has Begun
Senator Ed Markey tells Elon Musk: ‘Fix your companies. Or Congress will’
Senator Ed Markey of Massachusetts chastised Elon Musk on Sunday after the billionaire had a snarky response to the lawmaker’s request for information about Twitter’s new verification policies. “Perhaps it is because your real account sounds like a parody?” Musk tweeted Sunday morning after Markey shared a recent letter he sent criticizing the company’s new… Continue reading Senator Ed Markey tells Elon Musk: ‘Fix your companies. Or Congress will’
Twitter will soon let organizations verify related accounts
Less than two days after Twitter’s first attempt to charge for account verification ended in disaster, Elon Musk announced the company is working on a new way to authenticate users. On Sunday afternoon, he tweeted the social media website would soon begin rolling out a feature that will allow organizations to identify accounts that are… Continue reading Twitter will soon let organizations verify related accounts
Taiwan’s AppWorks to make first close of fourth fund this monthAppWorks, which focuses on Taiwan and SE Asia, is looking to hit the first close at $20…
Taiwan-based venture capital (VC) firm AppWorks is looking to make the first close of its fourth flagship fund at about $200 million as early as this month, its top executives told DealStreetAsia in an interview. The total corpus that the firm is targeting to raise by mid-2023 is $360 million, even as the global economic… Continue reading Taiwan’s AppWorks to make first close of fourth fund this monthAppWorks, which focuses on Taiwan and SE Asia, is looking to hit the first close at $20…