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China's Robinhood rivals pile into the crypto craze as they look to compete overseas
In this articleETH=BTC.BS=-USSTIGRFUTUIn this photo illustration a Bitcoin logo seen displayed on a smartphone with stock market percentages in the background.Omar Marques | SOPA Images | LightRocket | Getty ImagesBEIJING — Two of China’s rivals to stock trading app Robinhood are looking to cryptocurrencies as a way to compete overseas.The companies, Futu and Tiger Brokers, disclosed during earnings calls last month they are applying for licenses in Singapore and the U.S. that would allow local customers to trade digital currencies.The move comes as cryptocurrencies such as bitcoin have climbed back into the spotlight in recent months, while Chinese regulators have increased their efforts to limit speculation in the market. In the last few weeks, authorities issued new warnings against digital currency trading and a crackdown on bitcoin mining — an energy-heavy computing process that allows participants to earn bitcoin.But in the financial trading world, demand for cryptocurrencies is high as bitcoin’s price surged to record levels above $60,000, before dropping sharply to around $35,000.Robinhood, which launched bitcoin and ethereum trading in the U.S. in early 2018, has added 3 million customers a month this year for its crypto business. In April, U.S.-based cryptocurrency trading site Coinbase debuted on the Nasdaq.”We
China races to rival the U.S. with its own GPS system — but one analyst says it won't overtake the U.S. yet
China is set to become a major player in the “highly lucrative” satellite navigation market, as it seeks to compete with the U.S. government-owned Global Positioning System (GPS), an analyst said Monday.But China’s homegrown Beidou system is not likely to overtake the GPS system for now, said Craig Singleton, adjunct fellow at the hawkish Foundation for Defense of Democracies.”China has marked a major step in its race to increase market share in this highly lucrative sector,” Singleton told CNBC’s “Squawk Box Asia.””The completion of the system also reaffirms China’s status as a world power. It represents a major declaration about its technical independence from the West, which carries wide-ranging geopolitical implications,” said Singleton.Flags of the U.S. and China fly along Pennsylvania Avenue in Washington, D.C., on Jan. 17, 2011.Andrew Harrer | Bloomberg | Getty ImagesMore than 120 countries — including Pakistan and Thailand — are using China’s Beidou system for purposes such as monitoring traffic at ports or guiding rescue operations, the analyst said.And Beijing is counting on its massive Belt and Road Initiative to “convince” more countries to use Beidou, he added.The Beidou system was completed in June last year. Chinese state media Xinhua said last week that the
Cathie Wood Buys $13.5M In Smart Glasses Supplier Vuzix On Dip
Cathie Wood-led Ark Investment Management bought 773,400 shares in Vuzix Corp (NASDAQ:VUZI) on Friday, estimated to be worth about $13.5 million. Shares of Vuzix, which makes smart glasses for the consumer, defense, security and enterprise markets, fell 8.54% to $17.46 on Friday. The stock has a 52-week high of $32.43 and a 52-week low of $2.07. The investment firm bought the shares via the Ark Next Generation Internet ETF (NYSE:ARKW) and also holds the shares of the company in the Ark Autonomous Technology & Robotics ETF (BATS:ARKQ). See Also: EXCLUSIVE: Vuzix CEO Talks Product Advantages, Next-Gen Smart Glasses Together, the two ETFs held 2.53 million shares, worth about $48.38 million as of Friday’s trade. The wearable and augmented reality technology company earlier this month told Benzinga that it will, in 2021, introduce a next-generation version of its smart glasses that “look and feel like a regular pair of fashion-forward glasses.” Some of the other key Ark Invest sells on Friday included Pinduoduo Inc (NASDAQ:PDD) and buys included Zoom Video Communications Inc (NASDAQ:ZM) and the SPAC Jaws Spitfire Acquisition Corp (NYSE:SPFR). Photo courtesy of Vuzix.
AVATAMED sets up Joint Service Lab with A*STAR's Institute of Molecular and Cell Biology to offer Precision Oncology Services
SINGAPORE, June 1, 2021 /PRNewswire/ — AVATAMED (www.avatamed.com), a precision medicine service company based in Singapore, announced the setting up of a joint lab with Singapore’s Institute of Molecular and Cell Biology (IMCB) at the Agency for Science, Technology and Research (A*STAR), to offer precision oncology services. Through this initiative, AVATAMED and IMCB aim to improve treatment outcome for cancer patients.Globally, there are about 10 million cancer deaths every year and this number will increase over the years. Even with advances in new cancer therapeutics such as immunotherapy, and diagnostics such as genetic testing, there are still huge unmet needs of various groups of patients.Precision oncology provides targeted treatment for individual cancer patients based on their clinical, tumour and genetic profiles. This approach has helped many patients whose tumours do not respond to the standard-of-care treatments, have limited treatment options or have become resistant to the anti-cancer drugs.The joint service lab is located within IMCB’s premises at Proteos building in Biopolis, the heart of Singapore’s Biotechnology hub. Together with IMCB’s technological platforms such as the high-throughput drug screening platform, and expertise in cancer and cell biology, the joint service lab will offer AVATAMED’s proprietary drug screening technology, the AVATASCAN and
Innovent Biologics and AnHeart Therapeutics Jointly Announce Exclusive License Agreement for Taletrectinib in Greater China
SAN FRANCISCO and SUZHOU, China, June 1, 2021 /PRNewswire/ — Innovent Biologics, Inc. (Innovent) (HKEX: 01801), a world-class biopharmaceutical company that develops, manufactures and commercializes high-quality medicines for the treatment of cancer, metabolic, autoimmune and other major diseases, and AnHeart Therapeutics Co., Ltd. (“AnHeart”), a clinical stage oncology company focused on underserved patients in global markets, today jointly announce an exclusive license agreement for the co-development and commercialization of AnHeart’s lead drug candidate, taletrectinib – a next-generation tyrosine kinase inhibitor (TKI) designed to effectively target ROS1 and NTRK – in Greater China, including mainland China, Hong Kong, Macau and Taiwan.Under the terms of the agreement, Innovent will obtain exclusive rights to co-develop and commercialize taletrectinib in Greater China. AnHeart will continue to be responsible for the development of taletrectinib up to regulatory approval in mainland China and for supplying taletrectinib for both developmental and commercial purposes in Greater China. Innovent has the right to co-develop taletrectinib in Hong Kong, Macau and Taiwan up to regulatory approval. According to the agreement, AnHeart will receive an upfront payment, R&D fees, and potential milestone payments totaling USD189 million in addition to tiered royalties based on annual net sales of taletrectinib in Greater China. Taletrectinib is currently
Polish trial begins in Huawei-linked China espionage case
WARSAW (REUTERS) – An espionage trial involving a former Polish secret services agent and an ex-employee of Huawei begins in a Warsaw court on Tuesday (June 1) as some European states consider whether to exclude the Chinese group’s equipment from their 5G telecom networks. Poland arrested the two men in January 2019 on suspicion of spying for China, in a move that has ramped up international debate over the potential security risks of using Huawei equipment in communications networks. Huawei has repeatedly denied its equipment can be used for espionage by authorities in Beijing, but the United States has been pressuring countries to ban it. In Europe, only Britain and Sweden have so far done so. Polish prosecutors allege that Wang Weijing, 39, using the cover of being a Huawei executive, spent more than seven years spying for China trying to bolster the company’s ability to influence the Polish government and “enable it to… manage the state… technology infrastructure”, court documents show. Wang, who has been in detention since his arrest, is also charged with recruiting a former Polish secret service agent who, prosecutors say, informed him about ways of influencing the country’s rescue and public safety
EULAR 2021: New Data from UCB's Rheumatology Portfolio Demonstrates Real World Value for Patients with axSpA, PsA, and Women of Childbearing Age
– Patients with axial spondyloarthritis (axSpA), who achieve sustained remission, benefit from continued CIMZIA® (certolizumab pegol) treatment either at the full or reduced maintenance dose, a post-hoc analysis of the C-OPTIMISE study confirms- Further information for healthcare providers considering certolizumab pegol treatment, if clinically needed, for their patients who are women of childbearing age, is being presented from one of the largest cohorts of prospective pregnancies with known outcomes in patients with axSpA, Crohn’s disease (CD), psoriatic arthritis (PsA), psoriasis (PSO) and rheumatoid arthritis (RA)- Long-term safety, efficacy and patient-reported outcomes and quality of life data on UCB’s investigational IL-17A and IL-17F inhibitor, bimekizumab, show its potential to make a meaningful difference for people living with ankylosing spondylitis (AS) and PsABRUSSELS, June 1, 2021 /PRNewswire/ — UCB, a global biopharmaceutical company, today announced that it will present new data for its Fc-free anti-TNF, CIMZIA® (certolizumab pegol), and its investigational IL-17A and IL-17F inhibitor, bimekizumab, at the European Congress of Rheumatology (EULAR) 2021 on June 2-5, 2021. A total of seven abstracts were accepted for this year’s E-Congress, all of which highlight UCB’s dedication to innovation in rheumatology and ongoing commitment to address unmet patient needs. Three of the seven abstracts will be
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