Tag Archives: Business News

As one of America’s leading venture capital firms, a16z has invested in many fintech projects both within and outside the region.   Andreessen Horowitz (a16z), a leading venture capital firm, has joined a wave of US-based companies seeking new opportunities outside the shores of the country following the recent crackdown on crypto in the region. In an official press release on June 11, the California-based enterprise said its digital asset investment arm, a16z crypto, will open an...

Alex said that he is “more political” than his dad and mentioned his stance against the former president. George Soros, the popular philanthropist, and businessman, revealed that he is handing over his $25 billion empire to his son Alex. According to Forbes, George Soros is one of the top 400 wealthiest people in the world, with a net worth of $6.7 billion. The billionaire is a celebrated hedge fund tycoon who moved $18 billion from his family office to his Open Society Foundations as of...

Ongoing regulatory pressure has created a difficult working terrain for the banking partners of Binance.US. Binance.US has told its customers that they may not be able to buy crypto with their US dollars from June 13. The Thursday announcement follows after the Securities and Exchange Commission (SEC) filed a lawsuit against the exchange and its founder Changpeng Zhao (CZ) on Monday. SEC insists that Binance had violated the country’s securities laws. The exchange, on the other hand, says...

Meta will work towards making these AI capabilities accessible to people. Mark Zuckerberg recently revealed that Meta (NASDAQ: META) has been experiencing “incredible breakthroughs” in its use of generative artificial intelligence (AI). Like many other tech giants, Meta is also in the middle of the AI race, which has become the latest evolution in the market. Not only tech companies, but different organizations across diverse fields have also started adopting AI in the latest...

DocuSign has given a strong guidance for the second fiscal quarter anticipating revenue of $675 million to $679 million. On Thursday, June 8, e-signature provider DocuSign (NASDAQ: DOCU) reported strong earnings beating revenue estimates for the fiscal quarter ending April 30 (Q1 2024). In the aftermarket hours on Thursday, the company’s share price is trading 5% up moving past $61. DocuSign Inc, based in San Francisco, California, is a company that provides electronic agreement...

While Binance saw the acquisition of Gopax as a means of re-entering South Korea, it was also meant to be a turning point for the local trading platform. The SEC’s lawsuit against Binance has started affecting the company’s operations, particularly its acquisition of Gopax in South Korea. The US Securities and Exchange Commission filed a case against Binance for violating securities law. According to the filing with the federal court in Washington, Binance mishandled investors and also...

HSBC CEO has doused fears that Silicon Valley Bank UK will suspend or not adequately focus plans on helping startups. The CEO of HSBC UK has said that Silicon Valley Bank UK will continue its regular business of serving startups regardless of new ownership. Ian Stuart noted that Silicon Valley Bank will maintain its processes and business without disruption. At the Money 20/20 fintech conference in Amsterdam, Stuart assured CNBC’s Arjun Kharpal of protecting Silicon Valley Bank. He said:...

The move will help each business to build teams that have an intimate understanding of their local networks and industries. Venture capital (VC) firm Sequoia Capital has revealed its plans to split up into three distinct businesses. According to the announcement, the new businesses will focus on serving the United States, China, and the Asian markets, albeit separately. Sequoia Capital Cites Reasons for Upcoming Split Sequoia announced plans for the three-way split on Tuesday, sharing...

Apple and Meta will be taking the battle on the frontier of mixed-reality headsets. Here’s a look into how each of the devices – Apple Vision Pro and Meta Quest 3 – compare with each other. Mixed Reality, AR, and VR is the new battleground for tech giants to compete with each other. While Facebook parent Meta has been in the game for a while, Apple just made a big bang entry into the space by unveiling its Apple Vision Pro during the WWDC 2023 event’s opening day on Monday, June 5....

The company cited the challenging environment as a reason behind its headcount cut. Amid crypto winter and uncertain market conditions, companies continue to employ cost-cutting measures that often include layoffs. Digital asset management firm Arca is one the latest on the list of those currently in the middle of staff downsizing. Arca has reduced its headcount by as much as 30% (currently, it has only 66 employees in total), explaining the decision to lay off a third of its staff in a...