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1 billion dollars pulled from Binance by investors, Turn Capital acquires Flash Coffee Thailand, and SEA’s headline-grabbers of 2023

Binance sees US$956M in outflows after Zhao steps down to settle US probe
Changpeng Zhao is facing prison time after pleading guilty on Tuesday to settle a years-long US illicit finance probe; The deal, in which Binance will pay US$4.3B to US authorities, raises questions over the future of the world’s largest crypto exchange.

Turn Capital acquires Flash Coffee’s Thai business
Turn Capital plans to expand Flash Coffee’s presence across Thailand, with a plan to open more than 100 new stores in the next two years; Last month, Flash Coffee shut down all 11 stores across Singapore.

CoinGecko acquires NFT data infrastructure provider Zash
With this deal, Malaysian crypto firm CoinGecko aims to offer a one-stop solution that covers both fungible and non-fungible tokens; Zash provides indexed NFT data across 87 marketplaces on ethereum, polygon, BNB smart chain, solana, and bitcoin ordinals.

Now profitable, Zalora bets on B2B, subscriptions for growth
In 2022, Zalora reported a positive adjusted EBITDA margin of 0.7%; During the period, 2.9M shoppers purchased at least one item from the platform, excluding cancellations, rejections, and returns; This translated into US$451.4M in net merchandise value.

OpenAI researchers warned board of AI breakthrough ahead of CEO ouster
Ahead of Sam Altman’s four days in exile, several staff researchers wrote a letter to the board of directors warning of a powerful artificial intelligence discovery that they said could threaten humanity.

Ma hasn’t made anticipated share sale as Alibaba is significantly undervalued
In an internal mail to employees, CPO Jane Jiang said Jack Ma has not sold any shares in the e-commerce giant following regulatory filings last week showing Ma’s intention to sell 10M shares for around US$870M.

Lendela bags US$5M in Series A financing for APAC expansion
The investors are Chocolate Ventures, Cocoon Capital, Phillip Private Equity, and Genting Ventures; Since its inception, the consumer credit management platform claims to have connected over 100,000 consumers with more than 100 lending partners.

First Cheque@Jungle leads Climate Alpha’s US$5M seed financing round
Climate Alpha uses GIS data and economic modelling to deliver a solution for navigating accelerating climate volatility and forecasting the financial impact of climate risks.

MAS unveils new investor protection measures for crypto service providers
The regulations, which will be implemented in phases beginning mid-2024, focus on business conduct, consumer access, and technology and cyber risk management; Under the new rules, providers need to identify, mitigate, and disclose conflicts of interest.

Antler invests US$2M in startups across Singapore, Indonesia
Among the startups are Bootloader Studios, Optacloud, Trivium, Siftee, Katalis, Alter, Club Kyta, Hazana, and Sqouts; Antler, which has provided pre-seed funding of US$125K each, has invested in over 900 startups globally.

Wavemaker Partners joins Indian astrology app VAMA’s US$1.5M seed round
The Singaporean VC infused US$1.1M, while the rest came from Lisa Gokongwei-Cheng, Harit Nagpal, and others; VAMA serves as a one-stop destination for easy access to e-pujas, e-darshans, and astrology services for devotees across India.

India seeks to regulate deepfakes amid ethical concerns
“The deepfakes can spread significantly more rapidly without any checks and they are getting virals within minutes of their uploading. That’s why we need to take some very urgent steps to strengthen trust in the society and to protect our democracy”

30 top-funded Southeast Asian startups in 2023
In 2023, Kredivo, Investree, Carsome, and other startups lead the way with record-breaking funding, revolutionising industries across the region.

OpenAI, emerging from the ashes, has a lot to prove even with Altman’s return
OpenAI has a chance to prove itself wiser and worldlier in selecting the five remaining board seats — or three, should Altman and a Microsoft executive take one each (as has been rumored).

Kazam has created an Operating System for the EV industry in India
It allows EV fleets, charging point operators, OEMs, workplaces and residential properties to set up charging networks and earn money.

Coffeefrom: Brewing sustainability from bean to product
Coffefrom transforms coffee grounds of the food industry collected as a by-product into infinite expressive possibilities.

The 4 steps that YouTrip has taken to ensure financial resilience in a time of crisis
YouTrip CFO Weijern Lim also shares the company’s experience in applying for grants, an excellent alternative to VC funding for startups.

Base wants to revolutionise consumer engagement in SEA with its GenAI tool
Base Technology sets itself apart by using training dataset from Southeast Asia, enabling stronger diversity and locally relevant results.

Why SC Ventures believes in building innovation from within
The SC Ventures FinTech Bridge was initially developed to facilitate the sourcing of tech solutions within Standard Chartered.

SEA startup investors reveal 2023 trends they are keeping close watch of
Some 2022 trends will remain relevant, but there are different ways that SEA startup investors want to seize these opportunities.

Neeman’s converts plastic bottles into stylish, eco-friendly footwear
Neeman’s, founded by Indians Taran Chhabra and Amar Preet Singh, turns plastic bottles into chic, eco-friendly shoes, paving the way for sustainable fashion.

Spotlighting Jakob Rost: Nurturing fintech innovation and charting a path of open finance
Explore Rost’s fintech journey, thought leadership, and advice for staying relevant in the fast-paced tech landscape.

Algorithmic trading: The engine powering fintech’s financial revolution
The seamless integration of fintech and algorithmic trading is on course to reshape the financial industry.

Influencer culture: Shaping the digital landscape globally
The influencer landscape is a dynamic space where fame and fortune intersect through adaptability and innovation.

Future-proofing omnichannel touchpoints for businesses via AI
Practices and case studies on how cutting-edge and customer-centric AI plays a role in securing business success through multiple customer touchpoints.

Bridging the gap: Merging tech expertise and entrepreneurship
As the world adapts to post-pandemic, we are witnessing the boom of two key areas of expertise, namely, tech and entrepreneurship.

Hiring in the fast lane: The startup revolution in talent acquisition
The modern recruitment landscape prioritises efficiency, data-driven decisions, and streamlined talent acquisition, benefiting both recruiters and job seekers.

Stop looking for the right job, look for your superpower
There’s no such thing as the right job because human wants and desires are endless; instead, one should focus on finding one’s superpower.

Metaverse companies must beware of the poisoned chalice of web
Establishing the metaverse on web3 architecture is to embark on an odyssey riddled with difficulties and unmet promises.

How Web3 wallets are shaping tomorrow’s digital landscape
The Web3 wallet signifies a lasting shift towards a more inclusive, user-centric, and cost-effective financial future, not just a passing trend.

The post Ecosystem Roundup: Investors pulled ~US$1B from Binance; SEA’s headline-grabbers of 2023; Turn Capital acquires Flash Coffee Thailand appeared first on e27.


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