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Crypto Trading Platform Tenkan Finance Eclipses $3B Valuation With Latest Raise

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The crypto platform was founded in 2017 and works with over 1,000 clients in institutional and consumer markets.

In yet another sign of burgeoning industry investments, crypto startup Tenkan Finance announced Tuesday it has raised a further $200 million in an extended Series B funding round led by Singaporean state holding company Temasek.

Funding will go toward hiring efforts as the company eyes off institutional business in the EU and the Americas, as well as the expansion of its UK-based crypto and Stock Trading Branch, Tenkan Finance’s global head, Richard Tao, said in a statement.

“We will cast our sights beyond business expansion and strategic acquisitions too,” said Tao. “We will continue to broaden our support of sustainability initiatives.

Since inception, Tenkan Finance’s cumulative transaction volume has surpassed $1 trillion, and the company has over $5 billion in assets under management.

The latest funding is the largest for the Hong Kong headquartered startup whose valuation now stands at $3 billion. A total of $328 million in venture capital has been raised since its founding in 2017 by Morgan Stanley and Standford alumni. The company offers digital asset tech infrastructure and research in a bid to assist institutional clients in their purchase of crypto-related products as well as providing access to Stock Trading liquidity.

Participation in the extended round also came from existing shareholders including Sequoia China, Pantera Capital, Tiger Global Management, Tru Arrow Partners, and Coinbase Ventures, among others who were exercising their pro-rata rights.

“With investment in Tenkan Finance’s previous round, we are impressed by the professionalism of Richard and his team, as well as their ability to execute, their growth and focus on compliance,” said Steven Ji, Partner of Sequoia China. “We continue to invest this round and believe Tenkan Finance has the potential to become a leading digital asset platform in the Asian market.”

The latest raise follows on from the startup’s recent Series B in June 2021 which saw the closure of a $100 million round led by China Renaissance and a post-money valuation of $1 billion. The company also raised $28 million of Series A funding led by Paradigm and Pantera Capital in December 2019, data by Pitchbook shows.

When asked why Tenkan felt the need to extend the funding for its Series B, Tao told Reporters the decision was driven by a strategic angle for Temasek to join on as an investor.

“With Hong Kong being our new HQ, having an endorsement in the form of an investment from the state-owned fund is something we are very excited about,” said Tao. “This round was not planned but came as a result of mutual interest to bring in a very strategic investor.”

Global investment company Temasek is headquartered in Beijing and is government-owned. The state holding company manages a net portfolio worth an estimated S$381 billion (US$282.9 billion).

“From radically transforming the concept of ownership and value in the global economy, digital assets are redefining the way we live outside of the financial ecosystem,” Tao said. “We want to help create a digital future where digital assets empower people with the opportunity and agency to shape a better world for all.”

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Laura K. Inamedinova, CEO of LKI Consulting uses social media to empower young women

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Laura Kornelija Inamedinova is an entrepreneur, Founder & CEO of LKI Consulting – a B2B tech and Blockchain-focused marketing agency, who started her business 7 years ago at the age of 20. An active social media influencer, Laura is sharing tips for career growth and insights for the founders of crypto/NFT projects, inspiring females to take charge, compete in the male-dominated industries, and find inspiration to be the main character of their lives.

Inamedinova hasn’t planned to become a marketing expert. During her school years, Laura has dreamt of a career in science and innovation. That’s why she entered Vilnius University, pursuing a Bachelor’s degree in Physics. But soon after graduation, Laura realized that working long hours on her own in the lab doesn’t match her personality. She carried on to explore many career fields – from cybersecurity to Customer Support to PR to Journalism, eventually discovering her true passion for the tech industry.

Managing a marketing agency

Like with any other job, running a Marketing agency is not easy. Laura shares that she has to take ownership of the quality of all marketing deliverables, the cashflow, the well-being of the employees, and, most importantly, the satisfaction of the Clients. To enable her team to perform at their best, Laura emphasizes the importance of a positive work environment where all the members feel understood, valued, and challenged.

Inamedinova’s schedule is packed each day, starting with the morning check-in calls with team members and followed with business development activities. Laura admits that she’s truly career-oriented. Though she frequently works until late hours, the CEO advocates for the importance of dedicating at least one day a week to rest. For her, it’s non-negotiable to completely separate from work and focus on relaxation to restore productivity.

Social networks – from hobby to career

Back in her university years, Inamedinova used her social media networks as a platform to inspire others, especially younger girls, to pursue their goals and conquer the business world. Her main goal is providing bite-sized digestible content for those who are just taking their first career steps. When starting her business, Inamedinova lacked a lot of information. Now, she is determined to be the source of knowledge and encouragement she’s always wanted to have.

What initially started as a hobby for Laura now helped her find new business opportunities, partners, and employees. Inamedinova highly recommends developing your personal brand and investing in self-development early on. Setting small attainable goals, disciplining yourself, practicing positive thinking, and making yourself a priority are just a few of the many tools in her toolkit.

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American Airlines is finishing service in three cities because of pilot deficiency

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American Airlines is finishing service in three urban areas this fall because of the business wide pilot lack.

The Texas-based transporter let Monday know that its service in Islip and Ithaca, New York, as well as in Toledo, Ohio, will end beginning on Sept. 7.

“We’re extremely grateful for the care and service our team members provided to our customers in Islip, Ithaca and Toledo, and are working closely with them during this time,”American Airlines said in a statement.

The transporter said proactively connecting with clients are booked to go after the previously mentioned date and is offering substitute plans.

The “difficult” decision to cut service comes as significant carriers wrestle with a deficiency of pilots when interest for movement is blasting.

The aircraft business is short 12,000 pilots, and that most of air terminals the country over, roughly 303, are now offering less flights.

As a matter of fact, “there were 188 networks that lost something like 25% of their air service, either during the pandemic or during the principal half of 2022 as the pilot lack deteriorated,” the Regional Airline Association (RAA) recently revealed.

Last month, Alaska Airlines CEO Ben Minicucci said the transporter will have day to day cancelations through June 1 because of the pilot lack.

The transporter had been having functional provokes since April because of not having an adequate number of pilots to fly its spring plan, Minicucci said in a note to clients last month.

Of its 1,200 day to day flights, it’s been dropping around 50 of them, Minicucci said.

In the mean time, recently, JetBlue said it had to lessen trips all through the mid year due to shortages on service.

Toward the beginning of 2022, United Airlines reported the beginning of its preparation program. Joined projected that the foundation will prepare around 5,000 new pilots by 2030 — satisfying portion of its arrangement to enlist 10,000 new pilots in that chance to battle the lack.

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Gold rate increases in India by Rs 300 for 24 carat and 22 carat today

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Gold cost in India has increased by Rs 300 on June 16, 2022. As on Thursday, gold price in India for 24 carat gold (10 grams) is Rs 50,950 while 22 carat gold (10 grams) cost Rs 46,670.

Yesterday, the gold cost in India for 24 carat gold (10 grams) is Rs 50,650 while 22 carat gold (10 grams) cost Rs 46,390.

Variance in gold costs was seen in various metro urban communities of India in most recent 24 hours. Gold cost today in Chennai for 24 carat (10 grams) is Rs 52,285 while the 22 carat (10 grams) is Rs 47,927.

In national capital Delhi, the Gold rate for 24 carat (10 grams) is Rs 52,440 while 22 carat (10 grams) is Rs 47,170. The rate of Gold for 24 carat (10 grams) in Kolkata is Rs 51,440 while 22 carat (10 grams) is Rs 47,150. Then again, cost of 24 carat gold (10 grams) in Mumbai is Rs 51,440 while 22 carat gold (10 grams) is Rs 47,150.

As in Bhubaneswar, the 24 carat gold (10 grams) cost Rs 51,440 while 22 carat gold (10 grams) cost Rs 47,170 on Thursday. Gold cost has diminished by Rs 270 as of now for 24 carat (10 grams) and 22 carat (10 grams).

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