Ark Invest is also interested in Jack Dorsey’s payment firm Block after short-seller Hindenburg Research published a damning report on the company. No one takes advantage of the dip in crypto-related stocks like Cathie Wood’s American investment management company, Ark Invest. For the second straight day, the company made strategic acquisitions of both the shares of crypto exchange Coinbase Global inc (NASDAQ: COIN) and payment service provider, Block Inc (NYSE: SQ). As gleaned from...
Read More »Saudi and Abu Dhabi Investors to Contribute to SpaceX New Funding
Following a signed agreement between SpaceX and NASA, the government agency is considering SpaceX as an emergency return option for the ISS crew. Elon Musk’s SpaceX is about to receive financial backing from Saudi Arabia and Abu Dhabi investors in a new funding round. This follows an equity funding round in May 2022, which generated about $1.7 billion and reached a $127 billion market worth. At the same time, the company was positioned to be the US most valued startup with more than $125...
Read More »Alecta Offloads First Republic Bank Stake amid US Banking ‘Uncertainty’
Sweden’s largest pension fund Alecta dumped its First Republic Bank stake at a $728 million loss amid broader US banking losses. Swedish pension fund Alecta recently offloaded its First Republic Bank (NYSE: FRC) shares following the latter’s massive drawdown. The leading Swedish pension fund was the fifth-largest shareholder at the embattled bank but now appears to have lost faith in First Republic. According to Alecta CEO Magnus Billing, uncertainty regarding the future of First Republic...
Read More »Stripe Valued at $50 Billion after $6.5 Billion Raise
Stripe has retained its entity as a privately owned enterprise over the past ten years, despite persistent speculations about an IPO. Payment processor Stripe raised $6.5 billion at a $50 billion valuation, the firm announced, with a steep discount from its record valuation of $95 billion in 2021. According to the press release, the company doesn’t require money for expanding its business. The cash collection, with participation from Andreessen Horowitz, Founders Funds, Goldman Sachs, and...
Read More »Venture Capital Firm 8VC Secures $880M with Mission to ‘Fix a Broken World’
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Read More »SoftBank & Ant Seek to Gradually Sell Paytm Stakes to Reduce Holdings in Firm
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Read More »Ark Invest Purchased Total of 133,321 Coinbase Shares Last Week, COIN Up 17% on Friday
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Read More »Abu Dhabi Starts $2 Billion Scheme to Support Local Web3 Startups
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Read More »Berkshire Hathaway Sold Most of TSMC Stock Holdings Last Quarter as Semiconductor Supply Chain Constraints Linger
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Read More »TRON DAO Devotes $100M for AI Development Fund
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