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☆ Under fire for weak regulation, dLocal CEO says seeking UK license
▼ + stars: | 2022-12-07 | by ( Isabel Woodford | ) www.reuters.com time to read: +3 min

Speaking in a closed-door call hosted by Goldman Sachs, dLocal CEO Sebastian Kanovich said that a full license with the UK regulator (FCA) was pending, citing the UK's exit from the European Union. "We have been advised not to engage in a tit for tat," he responded, adding dLocal was only engaging privately with stake holders. Neither dLocal nor Goldman Sachs responded to a request for comment. Muddy Waters told Reuters that Kanovich's explanations for the multi-million deficit in merchants' accounts "were so implausible, we literally laughed out loud." The company's CEO was also asked why dLocal had nearly $6 million in funds trapped in disgraced crypto exchange FTX, which dLocal failed to withdraw before the exchange's collapse.

Overseas-based Chinese and their supporters rallied in Sydney, Tokyo, Hong Kong, New York and Toronto, with more protests planned in coming days. Outside the Chinese consulate in New York, hundreds gathered, some waving blank white placards, which have become a protest symbol in China. About 50 mainland Chinese students attended the rally, which was the biggest protest by mainland Chinese in Australia, said Chen Yonglin, a democracy activist who promoted the vigil on social media. "They will try to find out who are the organisers," said Chen, a former Chinese consulate official who defected in 2005. The Chinese embassy in Australia and the education office of the Chinese consulate in Sydney did not immediately respond to a request for comment.

☆ 'We're going to dream a little less': Sequoia's Doug Leone on fallout from FTX's collapse
▼ + stars: | 2022-11-18 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Doug Leone, managing partner at Sequoia Capital LLC, speaks during the Bridge Forum conference in San Francisco, California, U.S., on Wednesday, April 17, 2019. The event brings together leaders in finance and technology from Asia and Silicon Valley to connect and share insights. HELSINKI, Finland — Billionaire venture capitalist Doug Leone said there wasn't much his firm Sequoia Capital could do to predict the solvency crisis at FTX. Without mentioning FTX by name — though strongly hinting at it ("I'm not going to mention any acronyms") — Leone, Sequoia's global managing partner, said Sequoia had done "careful due diligence" on FTX. Sequoia was one of numerous blue-chip funds that backed FTX before its demise.

☆ Canada's largest pension fund CPPIB among the investors indirectly hit by FTX blowup
▼ + stars: | 2022-11-15 | by ( Danielle Walker | ) www.businessinsider.com time to read: +4 min

The Canada Pension Plan Investment Board had an indirect exposure to FTX through a Sequoia private-equity fund it was invested in. Ontario Teachers' Pension Plan said last week that it had invested a total of $95 million in FTX International and its US entity since October 2021. The Canada Pension Plan Investment Board, one of the world's largest pension funds, can be counted among the investors now impacted, either directly or indirectly, by the blowup of crypto exchange FTX. Toronto-based CPPIB has an indirect exposure to FTX through its investment in a Sequoia Capital private-equity fund. Sequoia's other impacted fund, SCGE Fund, L.P. had $63.5 million invested in FTX and FTX US, according to the firm's letter to clients.

☆ The collapse of crypto firm FTX and its superstar founder explained: Here's what happened and what it all means
▼ + stars: | 2022-11-12 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +6 min

Two years later, Bankman-Fried and his team launched FTX, a crypto exchange platform with perks like low trading fees and advanced options for traders. At his peak, Bankman-Fried was worth $26 billion, though his net worth had dropped to $16 billion before this week. In early November, crypto publication CoinDesk released a bombshell report that called into question just how stable Bankman-Fried's empire really was. Now, the FTX drama is creating a ripple effect throughout the crypto industry. Industry experts told Insider that the saga might encourage regulators to try to crack down on the crypto industry, or make big banks wary of letting customers trade crypto.

☆ Tiger Global, Coatue, and other hedge funds tried to upend venture capital. It backfired and now they're 'licking their wounds,' VCs say.
▼ + stars: | 2022-11-11 | by ( Darius Rafieyan | Melia Russell | ) www.businessinsider.com time to read: +10 min

New investments by Tiger Global and Coatue fell 60% and 67%, respectively, this year. "They're licking their wounds," said Nihal Mehta, a founding partner at Eniac Ventures, whose portfolio includes the marketing-tech startup Attentive, a crown jewel of Tiger Global and Coatue's portfolios. Speaking to founders, Mehta hears crossover funds come up less and less in conversation, and partners at some crossover funds tell him they're pulling back from new deals, though crossover funds haven't disappeared altogether. Crossover funds found themselves with billions of dollars in deployed capital and few exits in sight. Last month, Tiger Global and Coatue both revealed they are seeking to raise new funds earmarked for early-stage startup deals.

☆ Crypto: What's next as FTX collapse triggers 'Lehman moment'?
▼ + stars: | 2022-11-11 | by ( Julia Horowitz | ) edition.cnn.com time to read: +7 min

And can the beaten-down crypto industry bounce back? What’s clear is that the fallout from the FTX crisis injects significant volatility into the crypto ecosystem. “Thank God!”Can the crypto industry survive? “In the short term, this is going to be really, really bad for the crypto industry,” said Jog of Sei Labs. Fok said he expects the FTX collapse will push institutional investors away from the crypto space just as they had been warming up to it.

☆ Wall Street pushed into digital assets. Now investors are paying the price as FTX's crisis raises questions of a ripple effect in cryptoworld.
▼ + stars: | 2022-11-11 | by ( Rebecca Ungarino | Danielle Walker | ) www.businessinsider.com time to read: +8 min

FTX, the crypto exchange in crisis, found backers in BlackRock, VanEck, and Ontario Teachers. The solvency crisis facing the exchange and its famous CEO raises questions of a ripple effect. Now, in the middle of crypto winter, FTX is in the middle of a solvency crisis. Binance, a rival crypto exchange that was initially going to buy FTX, backed out. "What we like about it is that we're not really speculating on whether prices of crypto assets, bitcoin or otherwise, are going up or down.

Bankman-Fried said he was in talks with "a number of players" in the crypto sector, including Justin Sun who is the founder of crypto token Tron, after a potential rescue deal with larger rival Binance fell apart. He also said his firm Alameda Research, which sources have said was partly behind FTX's problems, was winding down trading. FTX's native token, FTT , is down more than 90% this week and was attempting to steady around $3.50. Another exchange, OKX, said it had been approached earlier in the week by Bankman-Fried, who described liabilities of $7 billion that needed covering fast. Bankman-Fried said FTX.US, the U.S. operations of the exchange, however, had not been financially impacted.

FTX head Sam Bankman-Fried said he was "exploring all the options", but fading hopes for rescue left FTX teetering. A message on the FTX website said: "FTX is currently unable to process withdrawals. "The dagger will continue to hang over the crypto market, as long as the outlook of FTX's fate remains unclear." 'CONFIDENCE CRISIS'There are also early signs that the fallout could spread beyond crypto markets, with jittery stockmarkets sliding on Wall Street overnight. Most crypto players remain bullish about the long term, but are braced for further falls in the near future.

He is seeking the remainder from other funds, including current investors in FTX such as venture capital fund Sequoia Capital, the source added. Bankman-Fried told investors that Alameda owes FTX about $10 billion, the Wall Street Journal reported. FTX had lent more than half of its customer funds to Alameda, the newspaper said. The U.S. securities regulator is investigating FTX.com's handling of customer funds and crypto-lending activities, according to a source with knowledge of the inquiry. Canada's Ontario Teachers Pension Plan, Tiger Global and Japan's Softbank are also FTX investors.

☆ Snyk: 2022 Top Startups for the Enterprise
▼ + stars: | 2022-11-07 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: +1 min

As more companies write their own code to power digital operations, they need to bolster and modernize their online security. It's a "cloud-native" technology, engineered by Snyk to speed up production and help enterprises prevent future security issues. Developers at AWS, Google , Atlassian , Comcast , Twilio , CVS , Overstock, Manulife and Revolut are among the millions in DevOps across sectors of the economy that are using Snyk. Investors include venture arms of Atlassian and Salesforce, Tiger Global, Baillie Gifford, T. Rowe Price, Accel, BlackRock, Franklin Templeton, Geodesic Capital and Temasek. The 2022 Top Startups for the Enterprise list is powered and inspired by the members of CNBC's Technology Executive Council (TEC).

☆ Lacework: 2022 Top Startups for the Enterprise
▼ + stars: | 2022-11-07 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: +1 min

Lacework is a cybersecurity company that relies on a patented form of machine learning built specifically within the cloud to protect an organization from the inside out. This approach provides insights internally to automatically learn patterns, flag deviations and provide alerts at the right time, without wasted time investigating false positives. Lacework prides itself on a comprehensive cybersecurity service that can be accessed from a single platform across Amazon Web Services, Microsoft Azure and other cloud platforms, and it has a recent integration with Snowflake. Its investors include Altimeter Capital, Tiger Global Management, Morgan Stanley's Counterpoint Global, Franklin Templeton, General Catalyst and Snowflake's venture arm. The 2022 Top Startups for the Enterprise list is powered and inspired by the members of CNBC's Technology Executive Council (TEC).

☆ Workato: 2022 Top Startups for the Enterprise
▼ + stars: | 2022-11-07 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: +1 min

CEO Vijay Tella built Workato to close a big gap his team saw in the modern enterprise. While business apps became simpler, faster and cheaper, the integration across these apps remained complex and expensive. Workato transforms automation across enterprises with a single platform for data, apps and processes, allowing them to evolve from complex and fragmented architectures of the past. The company differentiates its service by pitching easy-to-use, patented machine learning technology that can be used by both business and IT departments. The 2022 Top Startups for the Enterprise list is powered and inspired by the members of CNBC's Technology Executive Council (TEC).

☆ Tiger Global-backed Mesh Payments raised $60 million in a bid to help companies make better decisions around travel, HR, and other spending
▼ + stars: | 2022-11-04 | by ( Emilia David | ) www.businessinsider.com time to read: +3 min

Mesh Payments raised $60 million from Alpha Wave, Tiger Global, TLV Partners, and Entreé Capital. Mesh Payments, one of the few companies Tiger Global has funded this year, has big plans for the next year. The fintech dealing with corporate payments and issuing corporate virtual cards raised $60 million in September from Tiger Global and other investors. Mesh Payments' founder and CEO, Oded Zehavi, said the company was focusing on refining its products and developing new ones. Alpha Wave led its $60 million Series C funding round in September, along with Tiger Global, TLV Partners, Entreé Capital, and Meron Capital.

☆ Insider is seeking nominations for the 2022 rising stars of venture capital
▼ + stars: | 2022-11-02 | by ( Madeline Renbarger | Samantha Stokes | ) www.businessinsider.com time to read: +1 min

Insider is putting together a list of the best up-and-coming venture capitalists of 2022. We want to spotlight VCs who are skilled at dealmaking at both large and small funds. In the past, we've had people with a variety of roles and experiences from VC funds like Founders Fund, Greylock Partners, Lightspeed Venture Partners, Tiger Global, and Spark Capital. Please make your submission below or through this form by November 11th to have your selection considered for the list. Please email Madeline Renbarger at mrenbarger@insider.com or Samantha Stokes at sstokes@insider.com with any questions or issues submitting your nominations.

☆ Tiger Global dominated digital health in 2021. But it's only backed 12 health startups this year as the firm struggles in an unstable market.
▼ + stars: | 2022-10-18 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +2 min

Tiger Global Management poured cash into digital-health funding rounds worth billions of dollars last year as the market soared. In 2021, Tiger Global backed 10 digital-health startups in the first quarter alone. It's a dramatic shift for Tiger Global, which made 335 bets last year, more than any other investment firm, according to Crunchbase. The firm, led by Chase Coleman, has $65 billion in assets under management, according to a Tiger Global spokesperson. Here are the 12 healthcare startups that Tiger Global has backed this year.

☆ Best Chinese food: 32 must-try dishes
▼ + stars: | 2022-10-13 | by ( Maggie Hiufu Wong | ) edition.cnn.com time to read: +20 min

Dan dan noodlesIt’s nearly impossible to dislike China’s soul-comforting dan dan mian, or dan dan noodles. Dan dan noodles are named after the way they were originally sold more than 100 years ago – on a dan dan, a carrying pole, by street hawkers. Some think dan dan noodles should contain a dry mix of noodles, made with minced meat, chopped scallions, spices, crushed peanuts and various sauces. Others disagree, preferring dan dan noodles in a hot, spicy, salty and nutty broth albeit with similar ingredients. Similar to Hainanese chicken rice, the Wenchang version is often served with yellow chicken fat rice and chicken soup.

Persons: –, It’s, Dan, mian, jiao, you’ve, Ding Baozeng, Ding Gongbao, Ding, Hanyuan, cai, hei, Jian bing, jian bing, bing guozi, Chen, chow, Su Dongpo, China’s, zhu, Shui zhu, zhu niu, Bao Bao, bao, jian bao, Rou jia, xin, cheung, yun cheung, Laap cheung, Yun cheung, Congee, Chaozhou Organizations: CNN, Adobe, Adobe Stock Locations: China, Peking, Nanjing, Beijing, Govan, –, Sichuan, Hunan, Shandong province, Fujian, Hainan, Malaysia, Pidu, It’s, Tianjin, Chen, Shunde district, Shaanxi, Fuding county, Ningbo

☆ How AI service startup Aisera is helping companies embrace machine learning to automate tasks
▼ + stars: | 2022-09-27 | by ( Emilia David | ) www.businessinsider.com time to read: +5 min

His startup, Aisera, uses machine learning and natural language processing to resolve customer service, IT, sales, and operations problems by integrating with a host of enterprise applications like Zendesk, Salesforce, Amazon Web Services, and ServiceNow. The startup also offers a conversational AI service, or a chat service, in multiple languages that is meant to quickly resolve certain issues. Funding for AI, machine learning, and data analysis grew to $115 billion in 2021, according to PitchBook data. For example, Dave uses Aisera's conversational AI for its around-the-clock customer service, allowing the startup to resolve customer questions before handing off to a human if the question is more complicated. "Thanks to Shelly, Chegg's global service desk technicians can better focus on solving complex issues and proactive support."

☆ Federer's grand finale ends in defeat
▼ + stars: | 2022-09-24 | by ( Martyn Herman | ) www.reuters.com time to read: +4 min

After a brief moment of almost silence around the packed arena, the crowd erupted to salute an emotional Federer. During the changeovers the video screens showed some iconic moments of Federer's 24-year professional career with tributes from Nadal and his mother Lynette. American duo Sock and Tiafoe, pantomime villains for the night, tested Federer's reactions with some lusty blows aimed at the Swiss maestro who would have demanded nothing less. The pair with a combined age of 77 and 42 Grand Slam titles between them edged the opening set by breaking Tiafoe's serve. Despite the party atmosphere in the stadium, there was no danger of Federer's farewell match turning into an exhibition.

☆ Tears flow as curtain comes down on Federer's glittering career
▼ + stars: | 2022-09-24 | by ( Martyn Herman | ) www.reuters.com time to read: +5 min

LONDON, Sept 23 (Reuters) - Roger Federer's trophy-laden career ended with defeat on Friday, but for once the result hardly mattered as the Swiss maestro headed into retirement with tears in his eyes and cheers ringing in his ears. Federer produced moments of his trademark magic during a fiercely contested duel and kept his emotions in check. But the tears flowed afterwards as Ellie Goulding sung while a montage of Federer's feats was projected on the black court. During changeovers video screens showed iconic moments of Federer's career with tributes from Nadal and his mother. American duo Sock and Tiafoe, pantomime villains for the night, tested Federer's reactions with some lusty blows aimed at the Swiss maestro.

☆ The 26 most important VCs in Miami, according to other VCs
▼ + stars: | 2022-09-23 | by ( April Joyner | Emilia David | ) www.businessinsider.com time to read: +1 min

Miami's tech-startup scene has heated up in the past two years as VCs have flocked to the city. Early-stage funding to the area has topped $2 billion this year, according to Crunchbase. Insider asked VCs to identify the top investors in the Miami area. Despite the slowdown in venture-capital investments this year, early-stage funding flowing to the Miami area is set to eclipse last year's total, according to Crunchbase, with more than $2 billion already invested. Insider asked venture capitalists and other prominent tech figures which investors Miami-area founders should get to know.

☆ Gone are the days of chunky bonuses and salary increases. Wall Street's top brass are ready to trim their workforces as annual staff cuts return.
▼ + stars: | 2022-09-23 | by ( Aaron Weinman | ) www.businessinsider.com time to read: +5 min

It's a shift from this time last year, when junior bankers scored significant pay bumps, dealmaking reached record-breaking highs, and investment bankers prepared themselves for some of the chunkiest bonuses they'd ever received. Per this story from Bloomberg, however, the layoffs should not be as severe as what Wall Street experienced after market crashes in 1987 and 2008. For many, the return of staff cuts is kind of a return to normalcy. Fabrice Coffrini/AFP via Getty Images2. Credit Suisse is planning on splitting its investment bank into three parts, according to the Financial Times. The US Securities and Exchange Commission will let Wall Street keep payment-for-order flow, per Bloomberg.

☆ India’s edtech startup flunks the growth class
▼ + stars: | 2022-09-16 | by ( ) www.reuters.com time to read: +2 min

Children recite the preamble to the Constitution of India during an assembly at a school in Mumbai, India, January 27, 2020. REUTERS/Francis MascarenhasMUMBAI, Sept 16 (Reuters Breakingviews) - India’s most valuable startup is not growing much at all. It reveals the company’s top line shrunk 3% to $304 million while losses ballooned around 14 times to roughly $570 million. But the endless controversy around the Indian company is also ammunition for those calling for more regulation of the red hot-industry. (By Una Galani)Register now for FREE unlimited access to Reuters.com RegisterFollow @Breakingviews on Twitter(The author is a Reuters Breakingviews columnist.

☆ See the presentations that hot healthcare startups used to raise millions from top VCs
▼ + stars: | 2022-09-08 | by ( Lydia Ramsey Pflanzer | ) www.businessinsider.com time to read: +8 min

Here are the presentations obtained by Insider that healthcare startups have used to raise millions. Even so, healthcare startups raised $15.8 billion in the first half of the year, according to Silicon Valley Bank. Insider rounded up all the presentations we've published that healthcare startups have used to raise cash from investors. For instance, check out the 13-slide presentation heart-health startup Miga Health used to raise $12 million in seed funding. Brightside used this presentation to break through a crowded field of mental health startups and convince VCs to invest $24 million.

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