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Galaxy Digital Raises $460M to Build Texas AI Data Center
Mike Novogratz’s Galaxy Digital has secured a $460 million private investment from one of the world’s “largest asset managers” to accelerate the transformation of its former Bitcoin mining site in Texas into an AI data center. The deal involves the purchase of 12.77 million Class A shares at $36 per share, with the proceeds earmarked for general corporate use and the expansion of its Helios…
FTX pursuing $460m from SBF-backed Modulo Funds
FTX pursuing $460m from SBF-backed Modulo Funds
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Amid SVB’s collapse, the defunct cryptocurrency exchange FTX is suing the undertaking cash firm Modulo Money, which obtained a considerable investment from Alameda Research very last calendar year.
The lawsuit seeks to recuperate $460 million in client monies that FTX is stated to have improperly taken. Due to the settlement, equally corporations can steer clear of an highly-priced authorized struggle even so, the monies only account for a minor percentage of FTX’s overall asset deficiency.
Throughout the procedures of a bankruptcy situation, payments that ended up paid out to entities earlier to the filing of the personal bankruptcy circumstance could be qualified to be reclaimed and redistributed to collectors.
The clawback time for most unsecured lenders is established at ninety days, but for “insiders,” which is a term that contains general partners, it is set at 1 calendar year.
3 executives who had previously labored at Jane Street, a New York-dependent enterprise that experienced previously hired the two Sam Bankman-Fried (SBF) and previous Alameda CEO Caroline Ellison, recognized Modulo Cash in March 2022.
Some men and women imagine that SBF was in a intimate relationship with one of the company’s founders, Xiaoyun “Lily” Zhang, who drove his choice to make investments in the a lot less nicely-recognised enterprise money company. This principle is centered on the point that it has been documented that SBF was included in the connection.
Alameda was the transactions’ hub
Alameda Analysis, FTX’s sister buying and selling business enterprise, is considered to have invested close to $400 million in Modulo in 2022. This was 1 of the most major investments that FTX manufactured when SBF was in demand of the business.
In a doc dated March 22, FTX stated that the financial commitment from Alameda Investigation was produced at the instruction of SBF, with Alameda placing $475 million in Modulo in a sequence of transfers commencing in Could 2022
The submitting states that, on June 16, Alameda entered a constrained partnership act with Modulo. As a result of this arrangement, Alameda transferred the earlier mentioned monies to Modulo in exchange for possession of 20% of Modulo’s Course A shares. This transaction was recorded as getting taken spot.
Modulo to relinquish belongings at FTX as element of the settlement
In accordance to the phrases of the settlement deal, Modulo has agreed to pay back again $404 million in funds and would relinquish its assert to property really worth $56 million that were being saved on FTX’s cryptocurrency exchange. This amounts to roughly 97% of FTX’s unique financial commitment.
As section of the settlement, Alameda would also give up any claim to the Modulo shares it beforehand held.
The agreement will even now have to be accredited by the United States bankruptcy Decide John Dorsey, and a hearing on a request to approve the arrangement has been scheduled for April 12.
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Accolade to acquire second-opinion platform for $460M
Accolade to acquire second-opinion platform for $460M
Accolade, a startup that helps patients navigate their health benefits, plans to acquire medical opinion platform 2nd.MD for $460 million. The idea is to give employees access to a second opinion when they have to make a big decision about their health, such as whether to have a surgery. This benefit would build on Accolade’s current platform, where employees can ask all sorts of questions about…
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Scalable Capital raises $58M at a $460M valuation for its robo-investment platform – TechCrunch Startups building tech-based platforms to help make investments continue to be in high demand, building on an expanding market of investors getting more confident to rely on technology to undercut broker fees and speed up the process.
ICP places 460m new shares at 0.85 Singapore cent apiece to CMIA
ICP places 460m new shares at 0.85 Singapore cent apiece to CMIA
Singapore
HOTEL management company ICP has placed S$ 3.9 million worth of new shares representing a 14.78 per cent post-deal stake to private equity firm CMIA Capital Partners.
The 460 million new ICP shares were priced at 0.85 Singapore cent apiece, which was a discount of about 3.
… The Business Times
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Lloyds Bank sets aside another £460m for PPI claims
Lloyds Bank sets aside another £460m for PPI claims
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Lloyds Banking Group has said it has put aside another £460m in costs for payment protection insurance (PPI) mis-selling claims.
That means it has now allocated more than £19.2bn to settle the claims. The bank said it expected 13,000 PPI complaints a week until August 2019.
The provision came as Lloyds said its profits…
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