Merger
Superhero cans merger with Swyftx citing regulatory scrutiny
With more regulators eyeing the crypto space as the FTX debacle continues, the $1.5 billion merger of online investing platform Superhero with the Australian crypto exchange Swyftx was shelved. In an email to its customers, Superhero highlighted that it will not be proceeding with its merger with the crypto exchange. According to the company, this is because of heightened regulatory scrutiny within Australia and globally. They wrote: “As a result of the current environment, we have decided that the best thing for our Superhero customers is to unwind the merger and move forward as a separate, unrelated company.” The firm also assured its users that their funds are safe, as neither their data nor their assets were provided to Swyftx. The companies first announced the merger on June 8 a...
Ripple to consider deals for FTX assets: Brad Garlinghouse
Ripple CEO Brad Garlinghouse is reportedly interested in buying certain parts of collapsed crypto exchange FTX. On the sidelines of Ripple’s Swell conference in London — was held on Nov. 16 and 17 — Garlinghouse told The Sunday Times that former FTX CEO Sam Bankman-Fried called him two days before the company filed for bankruptcy as he sought to round up investors to rescue the business. Our 6th annual #RippleSwell is underway! I took the stage this morning with @cnbcKaren to discuss all things Ripple, crypto utility, macroeconomic factors affecting crypto, and much more. A thread… pic.twitter.com/EDHW3nyka8 — Brad Garlinghouse (@bgarlinghouse) November 16, 2022 The Ripple CEO said that during the call, the two discussed if there were FTX-owned businesses that Ripple “would want to own.” “...
Flewed Out: JetBlue Agrees To Buy Spirit Airlines For $3.8 Billion
HipHopWired Featured Video Source: Sun Sentinel / Getty It seems one of the most challenged travel brands might be able to finally get its act together. JetBlue has agreed to buy Spirit Airlines for 3.8 billion dollars. As per AP News JetBlue Airways has won a bid to take ownership of Spirit Airlines. The buyout will essentially make the conglomerate the world’s fifth biggest airline company but the deal is not closed just yet. The transaction will have to be approved by an antitrust regulation committee for it to move forward. The announcement comes months after a bidding war that seemed to be going nowhere with Spirit’s most recent attempt of merging with Frontier falling apart this week. To make it even more awkward Spirit CEO Ted Christie had long been vehemently against the idea of Je...
Bitcoin mining company PrimeBlock to go public via $1.25B SPAC merger
On Friday, Bitcoin (BTC) mining company PrimeBlock announced that it is merging with special purpose acquisition vehicle (SPAC) company 10X Capital Venture Acquisition Corp II. The deal places PrimeBlock at an enterprise value of $1.323 billion and is expected to close in the second half of the year. The company has installed 1.8 exahash per second of BTC self-mining equipment, accounting for approximately 0.89% of the Bitcoin network’s overall hash rate. According to PrimeBlock, its break-even price for mining is $9,000 per coin. Back in 2020, up to 59% of its energy sources were carbon-free. The firm seeks to become carbon-neutral on a net-zero basis by the year 2050. Last year, PrimeBlock brought in $21.8 million in revenue through mining 356.8 BTC. But in 2022, the firm expects t...
Amazon Closes $8.5 Billion Deal to Acquire MGM
Amazon has officially brought yet another company under its wing. Jeff Bezos’ empire announced today that it has closed its $8.5 billion acquisition of MGM. The deal, which was first announced back in May 2021, adds more than 4,000 movies and 17,000 TV shows to Amazon’s Prime Video catalog. This merger means that giant franchises like the James Bond series, as well as Silence of the Lambs, Rocky, and The Hobbit, now belong to Amazon. The company now owns the rights to some storied TV classics, such as The Apprentice and the fabled racist Donald Trump tapes. With their ownership of MGM’s studios now in effect, Amazon plans to use the acquisition to boost Prime Video and Amazon Studios’ growing catalog of new originals. Advertisement Related Video “The storied, nearly century-old studio — wi...
PGF chief: Femi Fani-Kayode’s botched defection an attempt to manipulate APC leadership
Director-General of the Progressive Governors’ Forum PGF, Salihu Moh. Lukman has said the recent attempt to accept Chief Femi Fani-Kayode into the fold of the All Progressives Congress APC was a clear attempt by some partisans to manipulate the leadership of the ruling party into doing the wrong thing. There were reports earlier in the week that Fani-Kayode, a chieftain of the opposition Peoples Democratic Party PDP was set to join the APC following a meeting with the Chairman of the Caretaker Extraordinary Convention Planning Committee CECPC, Gov. Mai Mala Buni, and Kogi state Governor, Yahaya Bello who chairs the Mobilization Committee of the party. In a statement titled, “APC and the Question of Values”, Lukman praised the insistence by many APC members and leaders that Mr. Fani-Kayode ...