Turmeric Capital Wins US $ 500 M from Saudi Backing
Turmeric Capital, an investment firm led by former L Catterton Asia head Ravi Thakran, has secured backing from Saudi Arabia for a $500 million private equity fund, according to people familiar with the matter.
Jump Trading replaces US $ 320 M in Funds after Wormhole Crypto Hack
The cryptocurrency arm of Jump Trading said on Thursday it had restored more than $320 million to crypto platform Wormhole after the decentralized finance site was hit with one of the largest crypto heists on record.In a tweet, Jump Crypto said they chose to replace the stolen money “to make c
Euro Climbs after ECB’s “Ground-Breaking” Aggressive Turn
The euro was on track on Friday for its best week versus the dollar since the COVID-19 pandemic hit, after a hawkish turn by the European Central Bank (ECB) sent shockwaves through markets.Rampant inflation across many global economies has forced central banks to tighten monetary policies that had b
Facebook’s Meta Loses USD $ 230 B in Historic Wipeout
Facebook parent Meta plunged as much as 26% at the open, erasing more than $230 billion in market value — on pace for the biggest wipeout ever in U.S. market history. Facebook’s user base faltered last quarter, the first stagnation in the company’s history — just one bad metric of several in
Alphabet eyes US $ 2 T Value after Blowout Results
Google parent company Alphabet advanced nearer to joining peers Apple and Microsoft in the elite $2 trillion market valuation club on Wednesday as the search giant’s shares surged more than 8% following a great quarterly report. Alphabet also announced a 20-to-1 stock split, which will give sh
BlackBerry to Sell Patents for US $ 600 M
BlackBerry said on Monday it will sell its legacy patents primarily related to mobile devices, messaging and wireless networking for $600 million to a special purpose vehicle formed to acquire the company’s patent assets. BlackBerry said the transaction with the vehicle, Catapult IP Innovation
Wall Street’s Big Bet on Chinese Markets is going all Wrong
The bar for China’s financial markets to do better this year was so low, virtually everyone on Wall Street was saying the country’s stocks and bonds could only go up. That bet isn’t going so well. Mainland equities just entered their first bear market since Donald Trump’s trade war. Shares i
The Hedge Fund that made US $ 700 M on GameStop knew it was Time to Sell
One hedge fund got the GameStop trade just about perfectly right last year — buying it under $10 and selling when the meme stock peaked. The sell signal it used? An Elon Musk tweet. That’s how 2021′s top-performing hedge fund Senvest Management was able to notch $700 million in p
Musk lost US $ 25.1 B, Bezos lost US $ 20 B, Zuck lost US $ 10.4 B
Last week was a painful week for billionaires as everything from e-commerce to cryptocurrencies to online gaming tumbled. Markets fell by the most since the outbreak of the pandemic as the specter of interest rate hikes by the Federal Reserve settled over the economy.Elon Musk, the world’s r
Bitcoin Tumbles to Six-Month Low below US $ 34 K
The selloff in cryptocurrencies gained momentum on Monday, with Bitcoin plunging and other digital tokens seeing even bigger losses. Bitcoin sank as much as 6.6% and fell below the $34,000 mark, continuing a six-day downturn. Ether retreated 7.6% and touched $2,201, also the lowest since July. Acros