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Hello reader,
It is a great time to be a football fan (and even better if you support Arsenal like me).
The Gunners are sitting at the top of England’s Premier League as domestic football takes a break for the World Cup that is set to kick off in Qatar on Sunday and is projected to draw an audience of 5 billion people. For context, the world’s population stands at about 8 billion.
The excitement is palpable even in cricket-loving India, but it is Cristiano Ronaldo’s fiery interview on his disgruntlement at Manchester United that is dominating the sporting pages.
The 37-year-old Portuguese legend, one of the world’s most popular athletes with nearly half a billion followers on Instagram, has sparked mass debate over his future at the club after saying he feels “betrayed” and is being forced out.
Whether the striker was right (or wrong) to take sensitive matters into the public sphere is a topic for another day. But he is likely to empathize with another group of people undergoing a similar sinking feeling: retail investors in Singapore who have parked their assets in bankrupt crypto giant FTX.
Today’s featured piece highlights how FTX’s seemingly invisible shield of credibility – rubber-stamped by the likes of state-backed Temasek – was shattered by a liquidity crunch at the three-year-old crypto exchange, leaving Singaporean investors also feeling “betrayed” and exposed to substantial financial threats.
Today we look at:
- How Singaporaens are left reeling from the FTX debacle
- ADDX bagging a further US$20 million in a pre-series B extension round
- Other newsy highlights such as AnyMind set to go public in Tokyo and Japan’s SMBC taking a stake in Vietnam’s SmartNet.
— Shravanth
P.S.: If you’re an entrepreneur looking for funding, fill out this form to get your company featured on our list of fundraising startups.
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