After setting up numerous start-ups from fashion to food delivery, Rocket Internet is targeting other business areas.
“We are now looking for fintechs, software, artificial intelligence, Proptechs,” chief executive Oliver Samwer outlined the goals on Friday. Gross, the start-up factory has therefore 2.6 billion euros in the box office to start up or develop companies. Proptechs provide technology for the real estate industry (Property Technology), Fintech’s financial services.
Samwer also announced at the annual general meeting in Berlin, after the strong growth of the cooking box supplier Hello Fresh in the US to take the US market further into focus. “We will continue to launch companies that will be number one in the US.” Shareholder representatives criticized the fact that the share price of the MDax company Rocket Internet SE is still well below the issue price, and demanded that Samwer formulate the goals more precisely.
Meanwhile, cryptocurrencies are increasingly used for criminal activities such as money laundering, but the number of reputable investors who are interested in Bitcoin & Co., is growing steadily.
Despite the plunge in prices and the enormous volatility, more and more opportunities are being created to invest in cryptocurrencies. The number of hedge funds focused on trading in digital coins is growing rapidly.
Since October of last year, the number of these crypto-investment opportunities has doubled. According to the British market research institute Autonomous NEXT, in February they reached a record high of 226 funds with assets under management of around 3.5 to 5 billion US dollars. While there were around 35 funds at the beginning of 2017, the number rose to 55 by mid-August.
Continue reading “The number of crypto-hedge funds continues to grow”
Japanese cryptocurrency exchange, CoincheckInc had on Friday experienced one of the biggest heist in history to the tune of USD$500 million.
Three days later, the theft of nearly USD$500 million in digital tokens is still reverberating through cryptocurrency markets and policy circles around the world.
The episode, disclosed by Coincheck executives at a hastily arranged press conference on Friday night, comes at an awkward time for Japanese regulators, who began rolling out a new licensing system for cryptocurrency venues just a few months ago. It has heightened calls for closer oversight and may influence a closely watched debate in neighboring South Korea over whether to ban digital-asset exchanges outright.
While Bitcoin and its ilk have mostly recovered from their selloff on Friday — thanks in part to Coincheck’s assurances over the weekend that customers would be reimbursed — market observers say concerns over security lapses at cryptocurrency exchanges are likely to persist. They may even push some investors toward peer-to-peer methods of trading that don’t rely on centralized platforms.
Continue reading “Massive Cryptocurrency Heist in Japan puts highlight on security”
The two authorities, Securities Commission Malaysia (SC) and Bank Negara Malaysia advised members of the public to exercise caution on the initial coin offering (ICO) schemes that may involve activities that are subjected to laws administered by the SC and the Central Bank.
In the statement, SC that carrying on such activities without proper authorisation is an offense.
The issuers of ICO are advised to be mindful on the launching of ICO, the offering of digital tokens in exchange for digital currency or any form of payment and incidental activities that may trigger regulatory requirements under securities laws.
“No person is permitted to carry out any regulated activities such as fundraising, fund management, and dealing in capital market products without obtaining necessary approval or authorisation from the SC,” it said.
Continue reading “Public to be Aware on the Initial Coin Offering”