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On March 28, Novo Nordisk announced that the U.S. Food and Drug Administration (FDA) has approved Awiqli® (insulin icodec-abae, generic name in China, brand name Novo Nordisk®) injection at 700 units/mL. This product is the first and currently the only long-acting basal insulin that can be administered once a week. It is indicated for adults with type 2 diabetes to improve their glycemic control in addition to diet and exercise.On March 28, the UN Secretary-Generals Zero Waste Advisory Committee released the first batch of cities selected for its global initiative of "20 Cities on the Road to Zero Waste," recognizing their efforts in reducing waste, promoting a circular economy, and building more sustainable and inclusive urban systems. Three Chinese cities—Hangzhou, Sanya, and Suzhou—were among those selected.March 28 - According to a report by the German Press Agency (dpa) on March 27, Russian President Vladimir Putin stated that Russia does not rule out the possibility of reconciliation with European countries. According to a transcript released by the Kremlin, Putin said at a Russian Federation Security Council meeting on the 27th: "We have never rejected developing these relations, nor have we ever rejected restoring them."On March 28, German Chancellor Merz stated on March 27 that if "regime change" is the goal of the US-Israel military action against Iran, he does not believe that goal can be achieved. Merz expressed his hope for an early end to the conflict, but noted that the US and Israel are "deeper in the game." He questioned whether the US and Israel have a strategy to end the conflict, and if so, whether it can be successfully implemented. Merz said the economic consequences of the Middle East conflict are "very direct," and Germany is one of the sufferers. If a ceasefire agreement is reached, Germany could consider jointly organizing military escorts across the Strait of Hormuz with other parties, but this requires international authorization, approval from the German Bundestag, and a cabinet resolution. However, as long as the conflict continues, this is "not an option" for Germany.March 28th - Since 2026, passenger traffic at Shanghai ports has continued to climb. According to statistics from the Shanghai General Station of Immigration Inspection, as of 9:00 AM on March 28th, the cumulative number of inbound and outbound passengers inspected by Shanghai immigration authorities has exceeded 10 million, representing a year-on-year increase of 2.9%. The flow of people at Shanghai ports is showing a robust "two-way" trend, with approximately 5.055 million outbound passengers and approximately 4.945 million inbound passengers, representing year-on-year increases of 2.6% and 3.3%, respectively.

Crypto Startup Amber Seeks Funding For $10 Billion Valuation

Cameron Murphy

May 06, 2022 10:20


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The Singapore-based company is considering a fourth round of investment.


Amber Group is also thinking at going public in the US.


Despite the market downturn, venture cash continues to pour into crypto businesses.


Amber Group, a crypto trading platform, is considering a new round of investment that would value the firm at $10 billion.


In February, the Singapore-based startup secured a $200 million financing funded by state investment firm Temasek Holdings. The company was valued at $3 billion at the time.


According to a Bloomberg article citing "people with knowledge of the topic," Amber is reportedly in talks about another round.


Venture capitalists are pouring money into cryptocurrency.


VC companies are still hungry for everything crypto and Web3-related, with billions of dollars flowing into digital asset businesses over the last year.


Amber's CEO, Michael Wu, hinted to a second round ahead of a prospective IPO in the United States later this year. Coinbase Ventures, Sequoia China, Pantera Capital, and Tiger Global Management all contributed to the February funding round.


Amber raised $28 million in a Series A financing in February 2020, according to Crunchbase. In June 2021, the company raised a $100 million Series B financing, which was followed by a $200 million round in February of this year.


According to its website, the business, which was launched in 2018 by five former Morgan Stanley traders, operates in 150 countries, has over $5 billion in assets on the platform, and $1 trillion in traded volume.


Andreessen Horowitz and Sequoia Capital, two of the most well-known venture capital firms in the crypto industry, recently backed Elon Musk's acquisition of Twitter to privatize the microblogging platform. Binance, the world's biggest cryptocurrency exchange, has committed $500 million to the project.

Shocking Market Drop

The decision comes as a larger crypto market sell-off intensifies, culminating in one of the year's greatest daily drops.


Over the last 24 hours, total market capitalization has dropped 7.4 percent, wiping away $145 billion from the industry. With a total market valuation of $1.76 trillion, crypto markets are at their lowest point since late February.


As expected, Bitcoin (BTC) led the decline, falling 8.4% on the day to $36,359 at the time of writing. With a drop of 7.1 percent to $2,735, Ethereum (ETH) was not far behind, and many of the other cryptocurrencies were considerably worse.


The daily price action, on the other hand, does not seem to have tempered the excitement of those venture capital behemoths.

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