Terra LUNA Cryptocurrency
Pakistan startups, the last massive untapped opportunity in the world
After two decades of uncertainty and confusion, Pakistan’s tech startup ecosystem appears to have finally found its feet; In 2021, a record US$352M was raised by 50+ startups, statistics by consulting agency Invest2Innovate shows.
The collapse of UST and LUNA was devastating, but there is still hope for crypto
What exactly happened doesn’t really matter; What really matters is that when something bad happened, Terra couldn’t handle it; What really matters is that an undercollateralised, algorithmic stablecoin will fail no matter how long it succeeds.
Zilingo creditors recall their loan due to unfulfilled obligations
This prompted the firm to hire an independent financial adviser “to explore options for the company,”; This comes at the heels of CEO Ankiti Bose’s suspension amid a probe on an alleged accounting mishap.
Indonesian SaaS firm Mekari bags US$50M in Money Forward-led round
Founded in 2015 by the name of Sleekr, the company rebranded itself as Mekari following successive M&A actions with four SaaS peers, including Talenta, KlikPajak, and Jurnal; It currently has more than 35K clients and 800K active users.
Merah Putih fund secures first close at US$300M
The fundraising milestone comes less than six months after the government launched the vehicle in December last year; Merah Putih was set up by the government in partnership with the VC arms of some state-owned enterprises.
Temasek tops up Amazon, Pinduoduo stake
The investment firm boosted its holding in the two firms by over 15%; It first revealed its purchase of Amazon shares in 2017 and Pinduoduo shares in 2020; Temasek earlier trimmed its interests in Airbnb and Lumen Technologies.
Elon Musk mulls Indonesia visit for investments after talks with Widodo
President Joko Widodo reportedly invited Musk when they met on a Space X site in Texas; The president’s camp said that the Tesla and Space X boss is “hopefully” eyeing November for the trip.
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Software security provider GuardRails scores nearly US$4M in funding
Investors include Sequoia’s Surge Ventures, Cocoon Capital, and SingtelInnov8; The GuardRails software runs security scans in the background and provides real-time alerts of important vulnerabilities once it is integrated into a workflow.
B Capital co-leads US$2.8M round of Indonesian personal finance app Finku
Global Founders Capital and Trihill Capital also participated; Finku allows users to track their transactions across several bank and e-wallet accounts and gives them real-time insights into their expense behaviour.
Binance CEO slams Terraform for lacklustre response
Terraform Labs, the company behind plummeting stablecoin TerraUSD, has not responded to Binance’s request to restore the network, burn the additionally minted token Luna, and recover the UST peg.
Elon Musk says US$44B Twitter deal on hold
Twitter, in a filing earlier this month, had estimated that false or spam accounts represented less than 5% of its monetizable daily active users in the first three months of the year.
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Copyright: ivanbabydov
The post Ecosystem Roundup: There’s still hope for crypto despite the UST, LUNA crash; Is it worth investing in Pakistani startups? appeared first on e27.