Binance gets regulatory nod in France, paving the way for Europe push

Binance, the world’s largest crypto exchange by volume, has gained regulatory approval to provide digital asset services in France, the first European country where it has acquired such permission, the company said in a blog post on Thursday. The greenlight was granted by the country’s market and banking authorities and arrived months after several regulatory […]

Alibaba-backed Deeproute further slashes L4 driving costs to $3,000

Only four months after Deeproute.ai announced it planned to sell its self-driving solution at an attractive $10,000, the Shenzhen and Fremont-based startup said it has further slashed the cost by approximately 70% to $3,000. The touted price tag surely stands out, given Deeproute is promising two to five solid-state lidars, eight cameras, as well as […]

Wrapped in red tape, China’s startups give up their mainland dreams

Like many ambitious Chinese who graduated college abroad during the 2010s and aspired to be the next Jack Ma or Pony Ma, Lucas returned to his motherland to build his own internet startup. Two years into running the business, however, his enthusiasm has waned. The regulatory risks and compliance costs affecting his company have become […]

China’s game engine Cocos raises $50M, goes beyond games

Cocos Technologies, a China-based game engine provider that has been around since 2010, just announced it has picked up $50 million in a Series B funding round in a bid to work on development and move beyond games. Investors include CCB Trust, a subsidiary of China Construction Bank, GGV Capital and real-time communication solution provider […]

Tencent to shut down its game streaming service

Tencent, the world’s largest video games company, said it will shutter its game streaming platform Penguin Esports by June due to “changes in business strategies.” Twitch-like Penguin Esports never achieved a substantial market share in China, but Tencent already owns the country’s two largest game streaming platforms, Douyu and Huya, via previous acquisitions. Together, the […]

TikTok delays opening of first European data center again

TikTok has once again delayed the timeline for opening its first data center in the European Union, in Dublin, Ireland — saying the facility is now not expected to be fully operational until next year. The video sharing social network has been trailing plans to store the data of EU, EEA and UK users in […]

Shein said to be raising $1 billion at $100 billion valuation

Yes, you read it correctly. The fast fashion e-commerce company that few in the tech industry had even heard of two years ago is aiming to raise $1 billion at a valuation of $100 billion. Shein’s fundraising plan was first reported by Bloomberg and we’ve reached out to the firm and its investors for comment. […]

China’s microblogging giant Weibo faces delisting risks in US

US regulators have hastened their pace to enforce a law that could delist Chinese companies of which accounting papers can’t be inspected. The addition of Weibo, the Twitter equivalent of China, to a delisting watchlist by the Securities and Exchange Commission could mean other Chinese internet giants like Alibaba and Baidu are not far from […]