Author: GT

In 2019 when ABS became the first Private Bank to bridge the world of crypto finance and regulated banking in order to serve clients who were seeking custody for digital assets and a suite of associated services, we expected an eventful ride. We got one – Crypto’s short term valuations roller coaster has been extraordinary, creating and destroying hundreds of billions of notional value over the last five years. However, like our clients, we have remained focused on the long term properties of this exciting space. We have learned to distinguish between noise and the overall direction of travel which…

Over the past decade, Dubai-based Network International has become one of the dominant payment processors across the Middle East and Africa, thanks in part to a pair of acquisitions. However, many large incumbents can fall prey to slower innovation, opening the door for smaller, faster-moving startups. The latest development is Enza, a fintech founded in 2022 by Hany Fekry, a former managing director at Network, along with another ex-Network executive Hamish Houston. The fintech, which has raised $6 million in seed funding, is building infrastructure for banks and fintechs, offering a range of local payment solutions, from cards to wallets…

Tokyo-based investment firm Metaplanet said Monday it had acquired an additional 150 bitcoin (BTC) to bring its total holdings to 3,350 BTC, valued at approximately $291 million at current market rates. The purchase comes just days after the company made Eric Trump, son of U.S. President Donald Trump, to its newly formed strategic advisory board. He is expected to bring a high-profile perspective to Metaplanet’s ambitions. Metaplanet is working to boost its value for shareholders by buying and holding bitcoin, using a measure called BTC Yield to track how well this plan is working. BTC Yield shows the percentage change…

FuriosaAI, a South Korean startup that makes chips for AI applications, has rejected an $800 million acquisition offer from Meta, opting instead to focus on developing and producing its AI chips, according to a local media report. Disagreements over post-acquisition business strategy and organizational structure, rather than price issues, caused the negotiations to break down, the report said. Along with other tech companies building large language models (LLMs) for various AI applications, Meta has been trying to reduce its reliance on Nvidia for chips that are specialized for training and building LLMs. The tech giant last year unveiled its custom…

Financial markets gave risk-on vibes early Monday during Asia hours based on reports that the next round of Trump tariffs due on April 2 could be more measured than initially expected. Bitcoin (BTC), the largest digital asset by market value, traded at around $86,500, up 2.7% on a 24-hour basis, with Solana’s SOL token trading nearly 6% higher at $138, according to CoinDesk data. Payments-focused XRP was up 2.5% at $2.44, trading above its 50-day simple moving average (SMA) after two consecutive weeks of positive price action. Futures tied to the S&P 500, Dow Jones Industrial Average, and Nasdaq rose…

Genetics testing company 23andMe has filed for Chapter 11 bankruptcy protection in the U.S. to initiate the sale of its assets. Alongside the announcement, the company’s co-founder and CEO Anne Wojcicki separately said she is leaving the company to become an independent bidder for the company. “After a thorough evaluation of strategic alternatives, we have determined that a court-supervised sale process is the best path forward to maximize the value of the business,” Mark Jensen, chair and member of the Special Committee of the Board of Directors, said in a statement. “We expect the court-supervised process will advance our efforts…

BEIJING (AP) — It’s highly technical work in what looks more like a lab than a museum: A fragment of a glazed roof tile from Beijing’s Forbidden City is analyzed in a state-of-the-art X-ray diffraction machine that produces images, which are then projected onto computer screens.The fragment being examined has a dark area on its surface that restorers want to understand. Their objective is to better preserve the artifacts at the sprawling imperial palace, the former home of China’s emperors and its seat of power for hundreds of years.“We want to learn what the black material is,” said Kang Baoqiang,…

Misleading Crypto Narratives Persist, Fueled by Speculative Market Sentiment Bitcoin’s current market dynamics are being shaped by conflicting narratives, with long-term holders standing firm despite claims of capitulation. According to data from CryptoQuant’s Onchained, long-term Bitcoin holders have not shown significant selling pressure. The Inactive Supply Shift Index (ISSI) reinforces this, indicating that long-held Bitcoin remains relatively stable, defying market sentiment that suggests holders are panicking. Onchained emphasized that these narratives often lack on-chain validation and are instead driven by market speculation, advising investors to trust data over sensational claims. Meanwhile, analysts are questioning long-held market beliefs, including the relevance…

Haun Ventures Targets $1 Billion for New Crypto Funds, Expects Oversubscription Haun Ventures, a venture capital firm led by former federal prosecutor Katie Haun, is aiming to raise $1 billion to invest in the cryptocurrency sector. The funds, expected to close by June 2025, will be split equally between early-stage and late-stage investments, with $500 million allocated to each. The goal of $1 billion is lower than the $1.5 billion Haun Ventures raised in 2022, which was deployed during the crypto market downturn, largely after the collapse of FTX. However, the firm anticipates the new round will be oversubscribed, despite…

The Bot Company, the robotics startup founded by former Cruise co-founder and CEO Kyle Vogt, has raised $150 million in a round led by Greenoaks, according to Reuters, citing unnamed sources. Vogt founded the startup with Paril Jain, who led the AI tech team at Tesla, and former Cruise software engineer Luke Holoubek. Vogt did not respond to a request for comment. The fresh round of funding comes less than a year since Vogt launched The Bot Company, which is aiming to produce a robot focused on household chores. The Bot Company launched in May with $150 million from former…