Cryptocurrency lender BlockFi has filed for Chapter 11 bankruptcy protection, it said on Monday, the latest crypto casualty after the firm was hurt by exposure to the spectacular collapse of the FTX exchange earlier this month. The filing in a New Jersey court comes as crypto prices have plummeted. The price of bitcoin, the most popular digital… Continue reading Crypto lender BlockFi files for bankruptcy, cites FTX exposure
Category: Tech News
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China broadens equity financing channels for property developers to aid economy
China’s securities regulator said on Monday it would allow China- and Hong Kong-listed Chinese property developers to sell additional shares to acquire real estate assets, replenish working capital, or repay debts, lifting a ban on such refinancing to help stabilize the economy. The China Securities Regulatory Commission (CSRC) said it would also promote financing by… Continue reading China broadens equity financing channels for property developers to aid economy
SG’s Vertex Ventures said to be nearing first close for SEA and India Fund 5
Temasek-backed Vertex Ventures is nearing the first close of its $450-million fifth fund for Southeast Asia and India, according to sources close to the development. DealStreetAsia understands that Vertex has secured around $380-400 million in capital commitments from major institutional investors. Singapore state investor Temasek Holdings is said to be contributing roughly $100 million to… Continue reading SG’s Vertex Ventures said to be nearing first close for SEA and India Fund 5
TA Associates prefers to invest in profitable Indian businesses, says top exec
American private equity (PE) giant TA Associates is betting big on sectors such as financial services, healthcare, technology, and consumer in India, as it carves out an investment strategy from its latest $12.5-billion fund. So far this year in India, TA Associates has invested in biopharma-focused tech services company Zifo RnD Solutions. The transaction, which… Continue reading TA Associates prefers to invest in profitable Indian businesses, says top exec
EV SPAC Faraday Future ousts its CEO
Faraday Future, the troubled EV startup-turned-publicly-traded company has shuffled its executive ranks once again. The board fired its CEO Carsten Breitfeld, according to a regulatory filing posted Monday after the markets closed. Brietfeld, who was the former co-founder of failed EV startup Byton, took the leadership role at Faraday Future in September 2019. The board… Continue reading EV SPAC Faraday Future ousts its CEO
Tesla blogs propagate fake news of chip joint venture, but why?
Several Tesla blogs are reporting that Tesla created a joint venture to produce computer chips with a company that is clearly fake. The reason behind the strange situation is unclear. Over the last few days, Tesla blogs, including Teslarati and Tesmanian (with the latter having been promoted recently by CEO Elon Musk on Twitter), have… Continue reading Tesla blogs propagate fake news of chip joint venture, but why?
Tesla Model 3 redesign is codenamed ‘Project Highland,’ report says
Tesla is reportedly working on a Model 3 redesign codenamed “Project Highland” that is going to be released by the end of next year, but that’s according to a report that should be taken with a grain of salt. Model 3 has been on the market for five years now without any significant redesign. It… Continue reading Tesla Model 3 redesign is codenamed ‘Project Highland,’ report says
We Are Alarmed by Every Detail of Elon Musk’s Bedside Table
Just gross. Table Fable Tesla and SpaceX CEO Elon Musk has shared an image of his bedside table — and we have questions. The image shows what appears to be a video game gun replica, four opened cans of caffeine-free Coke, and a flintlock gun inside a display box that features a famous painting of… Continue reading We Are Alarmed by Every Detail of Elon Musk’s Bedside Table
New AI Shows What You’d Look Like in Different Eras
This is so much fun. Made-Up Heritage Ever wondered what you would’ve looked like if you were alive during ancient Greek times or were reborn as a nineteenth century Arctic explorer? A new app called AI Time Machine by DNA analysis company MyHeritage is taking the internet by storm, allowing anybody to generate pixel-perfect renditions… Continue reading New AI Shows What You’d Look Like in Different Eras
Tesla is reportedly redesigning the Model 3 to cut production costs
Tesla is working on a redesign of the Model 3 codenamed “Highland,” according to Reuters. The company’s goal is to reportedly reduce the complexity and number of components required to produce the sedan. The redesign could include changes to the car’s exterior and powertrain performance. The project is also said to build on the revamp… Continue reading Tesla is reportedly redesigning the Model 3 to cut production costs