Cryptocurrency exchange Binance is aiming for a roughly $1 billion fund for the potential purchase of distressed assets in the digital sector, Bloomberg News reported on Thursday, citing an interview with Chief Executive Officer Changpeng Zhao. Zhao hinted at the possibility of allocating more funds in the interview. “If that’s not enough we can allocate more”, he said. Zhao said while speaking at a conference in… Continue reading Binance mulls $1b recovery fund for distressed assetsThe company plans to launch a fund to help cryptocurrency projects facing a liquidity squeeze.
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Indian VC firm Kae Capital makes final close of third fund at $94m
Kae Capital, an early-stage venture capital (VC) firm in India, has made the final close of its third fund at Rs 767 crore ($94 million), per an announcement. Some of the international institutional investors who have backed this fund are Old Mutual Wealth, Velo Partners, and Finext, while the Indian ones are HDFC Holdings and… Continue reading Indian VC firm Kae Capital makes final close of third fund at $94m
Global regulators to target crypto platforms after FTX crash
The crash of the FTX exchange has injected greater urgency into regulating the crypto sector and targeting such ‘conglomerate’ platforms will be the focus for 2023, the new chair of global securities watchdog IOSCO said in an interview. Jean-Paul Servais said regulating crypto platforms could draw on principles from other sectors which handle conflicts of interest,… Continue reading Global regulators to target crypto platforms after FTX crash
Evergrande creditors ask chairman for at least $2b fund infusion
Debt-laden developer China Evergrande Group has told offshore creditors that it plans to present a restructuring proposal as soon as the first week of December, Bloomberg News reported on Thursday. The proposal could include swapping debt for shares in the company’s Hong Kong-listed auto and property management units, the report said, citing unnamed sources. The group of creditors asked Chairman Hui Ka Yan to infuse… Continue reading Evergrande creditors ask chairman for at least $2b fund infusion
Tesla’s ‘Full Self-Driving’ Beta is now available to everyone in North America
/ Anyone who’s paid for it can now request it, with no mention of having to hit minimum safety requirements. Illustration by Alex Castro / The Verge Tesla’s “Full Self-Driving” Beta, which has been gradually rolling out over the past couple of years, is now available to anyone who’s paid for the feature in North… Continue reading Tesla’s ‘Full Self-Driving’ Beta is now available to everyone in North America
What it would mean for Tesla to buy back shares
Tesla investors are begging CEO Elon Musk and the board of Tesla to consider buying back shares as the company’s stock price slumps to a two-year low. Tesla stock was trading at $183.20 after hours on Wednesday, and its market capitalization has plunged by almost $700 billion since its peak a year ago. Musk said… Continue reading What it would mean for Tesla to buy back shares
The FTC might file an antitrust lawsuit to block Microsoft’s Activision purchase
Microsoft’s $69 billion purchase of Activision Blizzard is facing scrutiny from antitrust investigators in several countries. In the US, for instance, the Federal Trade Commission (FTC) started looking into the acquisition shortly after it was announced. Now, the FTC is reportedly ready to take action and will likely file an antitrust lawsuit to block Microsoft’s… Continue reading The FTC might file an antitrust lawsuit to block Microsoft’s Activision purchase
B2B marketplace Udaan raises up to $40m from EvolutionX Debt Capital
Business-to-business (B2B) marketplace Udaan, backed by investors such as Lightspeed India Partners and GGV Capital, has raised around $35-40 million in debt from growth-stage debt financing platform EvolutionX Debt Capital, a source familiar with the matter told DealStreetAsia. This comes a month after Udaan secured $120 million in convertible notes and debt, bringing the total… Continue reading B2B marketplace Udaan raises up to $40m from EvolutionX Debt Capital
Data Vantage: Entobel, NOVI Health, Doctor Anywhere & Oraan bag funding
Entobel, a company that produces animal feed, pet food, and fertilisers from black soldier fly larvae, received $15 million from Mekong Capital and Dragon Capital this week as part of its Series B funding round. The latest tranche comes less than six months after the company received $15 million from the two investors as part of… Continue reading Data Vantage: Entobel, NOVI Health, Doctor Anywhere & Oraan bag funding
Cleantechnica: Thousands Of Very High Quality Tesla Employees Are Why Tesla Is A Success 002395
We want to personify things. It helps us to understand — or think we understand — something when we can put a human face on it. In the case of large and complex institutions, we are prone to putting far more weight than is logical on one single face of the institution. For example, the… Continue reading Cleantechnica: Thousands Of Very High Quality Tesla Employees Are Why Tesla Is A Success 002395