Blockchain
SOS Ltd. Announces the Sale of its P2P Business and its Focus on Becoming a Leading Health and Emergency Services Company in China
SOS Limited, (NYSE: SOS) (formerly China Rapid Finance Limited, the “Company“) today announced it has completed the disposition of its legacy P2P business after the satisfaction or waiver of all closing conditions. Proceeds from the disposition is to be used for working capital and general corporate purposes.
Given recent government regulations in China against the P2P industry, it became evident that the opportunity to grow the P2P business was limited. In addition, virtually all of the P2P business’ assets are being held at the regulators request for the benefit of the platform lenders. Management believes that disposal of the P2P business is the most sustainable path for its next phase of growth, and that time and capital were therefore better focused on continuing the expansion of its rapidly growing health and emergency services business unencumbered by the issues surrounding the P2P business.
Asia-Pacific Consulting and Appraisal Limited (“APA”) delivered its opinion to the Board of SOS Limited (“SOS”) that, as of the date of the written fairness opinion and based upon and subject to the factors and assumptions set forth therein, the sale consideration to be received by SOS pursuant to the share purchase agreement was fair from a financial point of view to the shareholder of SOS. APA’s opinion and analysis took into consideration factors including the legacy P2P business’ operating environment, the assets and the earning opportunities available in that business.
Chairman Mr. Wang commented: “The legacy P2P business needed to be disposed so that we are able to focus all our energy on realizing our vision to become a leader in the health and emergency services industry in China. We are excited about what the future will bring.”
A recent warning from the FBI regarding a crypto money transmitter seems to be aimed at the Samourai Wallet. This development highlights the increasing scrutiny and regulatory challenges faced by privacy-focused cryptocurrency wallets and services.
The FBI warning raises concerns about the use of certain cryptocurrency wallets that prioritize user privacy and anonymity, potentially enabling illicit activities such as money laundering and terrorist financing. While the warning does not explicitly name any specific wallet or service, the language used suggests that the Samourai Wallet may be the target of the advisory.
Samourai Wallet is known for its focus on privacy and security features, including coin mixing and stealth addresses, which aim to enhance user privacy and protect against surveillance and tracking. However, these features have drawn the attention of law enforcement agencies and regulators, who are increasingly concerned about their potential misuse by criminals.
The FBI warning underscores the challenges faced by privacy-focused cryptocurrency wallets in navigating regulatory compliance and law enforcement scrutiny. While these wallets aim to empower users with greater control over their financial privacy, they must also address regulatory requirements and law enforcement concerns to avoid legal and reputational risks.
As the cryptocurrency industry continues to evolve, privacy-focused wallets like Samourai Wallet will need to strike a balance between privacy and compliance, ensuring that they can provide robust privacy features while also addressing regulatory concerns and maintaining transparency with authorities. This delicate balance is essential to foster trust and confidence among users and regulators alike, ultimately enabling the continued growth and adoption of privacy-enhancing technologies in the cryptocurrency space.
Source: cointelegraph.com
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Blockchain
Pantera Capital Plans to Raise $1 Billion for New Fund Offering Exposure to Crypto Assets
Pantera Capital is reportedly planning to raise $1 billion for a new fund that offers exposure to various crypto assets, as reported by Blockchain.News. This ambitious fundraising initiative underscores Pantera’s continued confidence in the potential of the cryptocurrency market and its commitment to providing investors with diversified investment opportunities in the digital asset space.
The new fund from Pantera Capital aims to capitalize on the growing demand for exposure to cryptocurrencies and blockchain-based assets among institutional and retail investors. By offering a comprehensive portfolio of crypto assets, the fund seeks to provide investors with access to a wide range of investment opportunities, spanning cryptocurrencies, tokens, and other digital assets.
Pantera’s decision to raise $1 billion for the new fund reflects its optimistic outlook on the long-term growth prospects of the cryptocurrency market. With increasing mainstream adoption and institutional interest in cryptocurrencies, Pantera sees significant potential for value creation and capital appreciation in the digital asset space.
As one of the leading blockchain-focused investment firms, Pantera Capital is well-positioned to attract capital from investors seeking exposure to the cryptocurrency market. The firm’s track record of successful investments and its experienced team of investment professionals are likely to bolster investor confidence and support for the new fund.
Pantera Capital’s plans to raise $1 billion for its new fund underscore its commitment to driving innovation and growth in the cryptocurrency market. As the fund attracts capital and deploys it into promising investment opportunities, it is poised to play a key role in shaping the future of the digital asset ecosystem.
Source: blockchain.news
The post Pantera Capital Plans to Raise $1 Billion for New Fund Offering Exposure to Crypto Assets appeared first on HIPTHER Alerts.
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