News 

Announcing our new $500 m fund  —  Northzone today announces …

“The new fund attracted existing and new Limited Partners, and was raised at record speed, showing the strong global interest in the European early-stage venture capital market” reports northzone.com. The fund is one of the largest early stage venture capital funds raised in Europe this year.Northzone today announces its new fund, Northzone IX, oversubscribed and with an imminent final close.The fund has already made three investments, in Pollen (London), Spacemaker (Oslo) and Livepeer (NYC). Source: northzone.com

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Crypto News 

How the Unbanking of Former PayPal CFO by BoA Shows Bitcoin’s…

“Of course, Botha is unlikely to be turning to Bitcoin as a solution to his banking qualms, but this recent debacle of his unbanking shows the power of decentralization in money” reports newsbtc.com. Though, a recent case involving America’s largest bank and one of the most prominent Silicon Valley investors and executives of all-time seemingly mandates the use of the aforementioned meme. Source: newsbtc.com

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Crypto News 

Opera-Backed Fintech OPay Seals $120M Investment to Grow Across Africa

“Lagos-headquartered fintech Opay has sealed $120 million in a series B financing round from a host of high-profile Chinese investors” writes Marie Huillet for cointelegraph.com. Since its Series A $50 million round, OPay’s business in Nigeria has grown to 140,000 active agents and hit $10 million in daily transaction volume, according to TechCrunch.The round reportedly included big-name venture capital investors Sequoia China and Softbank Asia, IDG Capital, alongside Meituan-Dianping, GaoRong, Source Code Capital, BAI, Redpoint and GSR Ventures. Source: cointelegraph.com

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FedEx Cut Its Tax Bill to $0

“Nearly two years after the tax law passed, the windfall to corporations like FedEx is becoming clear” writes Ben Casselman for nytimes.com. As for capital investments, t he company spent less in the 2018 fiscal year than it had projected in December 2017, before the tax law passed.Its financial filings show it owed no taxes in the 2018 fiscal year overall .Company officials said FedEx paid $2 billion in total federal income taxes over the past 10 years.If anything, the companies that received the biggest tax cuts increased their capital…

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Crypto News 

ConsenSys CSO Seeks to Raise $50M for New Blockchain Investment Fund

“An executive at the Ethereum blockchain firm ConsenSys is launching a new blockchain-oriented investment firm, Aligned Capital” writes Helen Partz for cointelegraph.com. In June 2019, billionaire investor Henry Kravis reportedly made his first crypto investment in blockchain-focused investment firm ParaFi Capital.According to the announcement, Aligned Capital will be investing in three major areas including blockchain and crypto, safe artificial intelligence and innovative healthcare.Sam Cassatt’s new blockchain-focused fund is further proof of the overall steady growth of investment in blockchain technology.Sam Cassatt, the chief strategy officer (CSO) at ConsenSys, announced that…

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Markets News Stocks 

Layoffs, cratering stocks, and blown-up deals: 11 experts take us inside the cannabis industry’s meltdown and tell us where the industry goes from here

“The story of the industry’s rise and stumble, cannabis industry executives and experts say, goes something like this” writes Jeremy Berke for businessinsider.com. Once flying high, cannabis companies in recent months have struggled to raise money and close marquee deals.For startups and publicly traded behemoths, navigating the choppy waters of the cannabis industry has been challenging.”We are calling the bottom on Canadian cannabis stocks,” the analyst, Pablo Zuanic, wrote in the note. Source: businessinsider.com

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Billionaire investment guru Ray Dalio warns of a looming ‘capital war’ between the US and China

“Ray Dalio is warning that the current trade war between the US and China could spiral into a capital war” writes Yusuf Khan for businessinsider.com. “There is a trade war, there is a technology war, there is a geopolitical war, and there could be a capital war,” Dalio said on Thursday, adding “How that is approached is going to determine our futures.”. “I hope that it is done with mutual understanding instead of wars – a win-win relationship rather than a lose-lose relationship,” Dalio added.Dalio has warned of similar dangers…

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Hong Kong’s cash pool tightens as Alibaba primes for $13 billion listing

“HONG KONG (Reuters) – Alibaba Group’s $13.4 billion Hong Kong listing is shrinking cash levels in the protest-wracked financial hub, with short-term borrowing costs shooting back towards a decade-high marked in July” writes Midwest Communications Inc for 95kqds.com. In late October, the Hong Kong Monetary Authority said there was no obvious capital outflow from its banking system.Cheung added interbank rates could stay elevated if capital outflow concerns persisted after the Alibaba listing is wrapped up. Source: 95kqds.com

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