Jeffrey Huang, the veteran rapper who pioneered Taiwan’s hip-hop scene, publicly lashed out at two investment banks after his tech startup shelved its US initial public offering.
M17 Entertainment Ltd., the live-streaming platform that Huang co-founded, said in a statement dated Wednesday it’s deferring its listing due to unspecified “settlement issues” with some investors. In a post on his verified Facebook page, Huang used a four-letter expletive to express his displeasure with Citigroup Inc. and Deutsche Bank AG, the lead underwriters of the sale.
There is evidence that tether, a digital currency pegged to the US dollar, may have been used to manipulate the price of bitcoin and other cryptocurrencies, according to a research paper released by the University of Texas on Wednesday.
“Tether seems to be used both to stabilise and manipulate bitcoin prices,” said the paper’s co-authors, professor John Griffin and doctoral student Amin Shams.
Critics of tether have raised concerns over the past year about whether Tether Limited actually holds $1 in reserve for each tether issued, as it claims. More than $2.2 billion of tether was issued between March 2017 and January 2018, according to the paper.
Ofo denies embezzling around US$1.6B in user deposits [Yicai Global]
Beijing Bikelock Technology, the firm behind leading bike sharer Ofo, has denied misappropriating user funds worth over CNY10 billion (US$1.6 billion).
“We definitely did not misuse deposits,” the company told Beijing Business Daily this morning, after reports suggested the company was misusing customer deposits, which they must pay before using the firm’s shared bikes.
Ofo’s financial data as of the middle of the month showed that the company was holding CNY3.5 billion, much less than it should have been, Chinese business news outlet Caixin Weekly reported recently, citing a personal familiar with the company’s financials.
Former COO of AsiaMedic Jonathan Tan joins GetDoc as Chief Commercial Officer [press release]
As part of its regional expansion and launch of new services, Jonathan Tan has joined GetDoc’s management team to lead business development and new services. He will report into Group CEO and Founder Woon Shung Toon.
Prior to his current appointments, Tan was the Chief Operating Officer at AsiaMedic for six years. Previously, he held several leadership positions in both the public and private sectors, including senior management roles in Healthway Medical Group, National Healthcare Group, and Société Générale de Surveillance.
With over more than 10 years in the healthcare sector, Tan has extensive local and regional experience in various aspects of healthcare management from corporate and strategic planning, operations, P&L oversight.