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February 7th - US President Trump tweeted: "We need more competition to fight our enemies—the national television networks that spread fake news. Facilitating a good deal like Nexstar-Tegna will help combat fake news because it will bring more, higher-level, and more sophisticated competition. Those who oppose it dont fully understand the benefits for them, but they will in the future. Get this deal done!"February 7th - Ukrainian President Volodymyr Zelenskyy posted a message on the 7th local time, stating that he received a briefing from the Ukrainian negotiating team following their talks with the US and Russia. The Ukrainian negotiating team provided him with a detailed overview of the progress of the negotiations. He stated that Ukraine needs to achieve substantial results, and one of the most important foundations for a peaceful resolution is effective security guarantees.February 7th - While the control dispute at Nexperia remains unresolved, another Chinese acquisition of a British chip company is attracting increasing attention. February 7th was the deadline set by the UK government for the mandatory sale of the FTDI acquisition, subject to national security review. This overseas acquisition by China, completed in 2021, is now entering its final countdown to mandatory sale. Back in November 2024, the UK government formally notified the Chinese consortium that it must transfer all its shares in Future Technology Devices International Limited (FTDI), a UK USB bridge chip company, by the stipulated time. The UK cited the National Security and Investments Act (NSIA), which came into effect in 2022, citing "potential threats to national security." An industry insider stated that the Chinese consortium has been trying to secure more time. The latest extension application is still awaiting a response from the UK, and based on past experience, there is still a certain probability of the extension being approved.February 7th - It was learned from the Ministry of Water Resources that, in order to further improve the construction, operation, and management mechanisms of major water conservancy projects, the Ministry of Water Resources and the National Development and Reform Commission recently issued the "Implementation Opinions on Improving the Construction, Operation, and Management Mechanisms of Major Water Conservancy Projects." Major water conservancy projects are important infrastructure for promoting high-quality economic and social development, playing a crucial supporting role in ensuring flood control, water supply, food security, and ecological security. The opinions are divided into four parts: general requirements, improving the high-quality construction mechanism, improving the high-level operation mechanism, and improving the high-efficiency management mechanism. The opinions require that, focusing on the national water network construction goals of "complete systems, safety and reliability, intensive and efficient, green and intelligent, smooth circulation, and orderly regulation," the government should guide and the market should participate, coordinating "hard investment" and "soft construction," improving the construction and operation mechanism of projects with clear responsibilities, diversified investment, and a focus on both quality and efficiency, and forming a comprehensive, data-driven, and efficient management and guarantee system to achieve high-quality construction, high-level operation, and high-efficiency management of major water conservancy projects.Algeria plans to cancel its air services agreement with the United Arab Emirates.

Crypto Startup Amber Seeks Funding For $10 Billion Valuation

Cameron Murphy

May 06, 2022 10:20


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The Singapore-based company is considering a fourth round of investment.


Amber Group is also thinking at going public in the US.


Despite the market downturn, venture cash continues to pour into crypto businesses.


Amber Group, a crypto trading platform, is considering a new round of investment that would value the firm at $10 billion.


In February, the Singapore-based startup secured a $200 million financing funded by state investment firm Temasek Holdings. The company was valued at $3 billion at the time.


According to a Bloomberg article citing "people with knowledge of the topic," Amber is reportedly in talks about another round.


Venture capitalists are pouring money into cryptocurrency.


VC companies are still hungry for everything crypto and Web3-related, with billions of dollars flowing into digital asset businesses over the last year.


Amber's CEO, Michael Wu, hinted to a second round ahead of a prospective IPO in the United States later this year. Coinbase Ventures, Sequoia China, Pantera Capital, and Tiger Global Management all contributed to the February funding round.


Amber raised $28 million in a Series A financing in February 2020, according to Crunchbase. In June 2021, the company raised a $100 million Series B financing, which was followed by a $200 million round in February of this year.


According to its website, the business, which was launched in 2018 by five former Morgan Stanley traders, operates in 150 countries, has over $5 billion in assets on the platform, and $1 trillion in traded volume.


Andreessen Horowitz and Sequoia Capital, two of the most well-known venture capital firms in the crypto industry, recently backed Elon Musk's acquisition of Twitter to privatize the microblogging platform. Binance, the world's biggest cryptocurrency exchange, has committed $500 million to the project.

Shocking Market Drop

The decision comes as a larger crypto market sell-off intensifies, culminating in one of the year's greatest daily drops.


Over the last 24 hours, total market capitalization has dropped 7.4 percent, wiping away $145 billion from the industry. With a total market valuation of $1.76 trillion, crypto markets are at their lowest point since late February.


As expected, Bitcoin (BTC) led the decline, falling 8.4% on the day to $36,359 at the time of writing. With a drop of 7.1 percent to $2,735, Ethereum (ETH) was not far behind, and many of the other cryptocurrencies were considerably worse.


The daily price action, on the other hand, does not seem to have tempered the excitement of those venture capital behemoths.