Fidelity Acquires Fintech Firm Shoobx, Strengthening Private Market Presence

• Fidelity Investments, one of the world’s largest financial services providers has announced its complete acquisition of the global fintech firm, Shoobx. • Shoobx offers automated equity management operations and financing software for private companies at all growth stages, up to and including an initial public offering (IPO). • Fidelity and Shoobx’s offerings in this […]

ByteDance Announces Hundreds of Job Cuts in China by 2022

• ByteDance, the parent firm of the social media platform TikTok, has cut hundreds of jobs across multiple departments by the end of 2022. • These job cuts come as part of the company’s plans to streamline operations. • ByteDance is one of the largest employers in china with a total workforce of over 100,000 […]

Morocco Set to Introduce Crypto Regulatory Bill in Coming Days

• Morocco is ready to introduce its crypto regulatory bill after collaboration with the International Monetary Fund, World Bank, Moroccan Capital Markets Authority, and Insurance Supervisory Authority and Social Security. • Governor of Moroccan Central Bank, Bank Al-Maghrib, Abdellatif Jouahiri, has stated that the bill is ready and the country might see it released “in […]

VanEck Suspends Two Russia ETFs Amid Western Sanctions

• VanEck recently announced that it is suspending two Russia ETFs due to a lack of Western investment interest. • The suspension is due to the Western sanctions against Russia, which have effectively prohibited major Russian stocks from trading in the West. • VanEck cited the inability to buy, sell, and take or make delivery […]