SoftBank
3AC liquidators seek time, access to headquarters as Genesis, Algorand ties are untangled
The liquidators of failed crypto hedge fund Three Arrows Capital (3AC) have filed an application in the High Court of Singapore for a stay on claims against 3AC and access to the company’s Singapore headquarters. The liquidators said in the 1,157-page document that a court decision is needed in light of the number legal proceedings that may arise in the near future and the “virtual radio silence from the management/directors of the Company.” According to the July 9 application, the Singapore office may contain cold wallets or information on how to access 3AC trading accounts, which the liquidators want to access before any of it is removed or destroyed. The application lists previous unsuccessful efforts to obtain information from company directors Su Zhu and Kyle Davies and their represen...
Nigeria’s Andela Achieves $1.5-Billion Valuation in Latest Series E Round
Image sourced from TechCabal. Andela, a global engineering talent outsourcing company launched in Nigeria in 2014 has secured a $200-million investment during a Series E funding round led by SoftBank Vision Fund 2, the venture capital arm of Japanese mega-corp SoftBank. This latest funding round brings Andela’s total valuation to $1.5-billion, officially making it Africa’s fifth unicorn startup. According to TechCabal, Andela began as an African-focused software developer training and outsourcing company. The firm soon grew to become a top source for talented, well-rounded developers in Africa thanks to the company’s developer training methodology and curriculum. The company received a comfortable $24-million injection from Facebook’s Mark Zuckerberg in 2016. Last year, Andela went complet...
Rollercoaster: Bitcoiners who missed rally feel relief and regret
Arianna O’Dell, a 30-year-old entrepreneur and songwriter based in New York City, had a tumultuous four-year journey in cryptocurrency before selling her investments in February. During her rollercoaster ride, bitcoin prices swung from less than $1,000 to nearly $20,000. O’Dell may not have made optimal decisions about when to buy or sell, and missed out on the recent rally – but said she does not regret that. Investing $2,705 worth of proceeds into her business was better than enduring the stress of daily fluctuations, even though the price has since doubled, she said. “Honestly, I’ve had more luck in Vegas than I’ve had with cryptocurrencies,” O’Dell said in an interview. She is part of a relatively new class of retail investors who joined the cryptocurrency market years ago, helping pro...
