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Speaking with Cointelegraph, Animoca co-founder Yat Siu noted that given the sources anonymity, it makes it difficult to ascertain exactly who or what the source or agenda is. 4115 Total views 13 Total shares Listen to article 0:00 News Own this piece of history

Collect this article as an NFT Venture capital firm and Web3 game developer Animoca Brands has refuted claims that it scaled back its metaverse fund target by $200 million, or 20% to $800 million, amid volatility in the crypto market and instability in the banking sector.

The firm also downplayed suggestions that its valuation has plummeted from $6 billion as of July 2022 to roughly $2 billion in March 2023.

Stemming from a March 24 Reuters reportcitinganonymous people familiar with the matter, it was claimed that Animoca initially halved its $2 billion metaverse fund target in January, and recently cut itanother 20% to $800 million.

The fund in question was announced in November 2022to allocate capital to mid-to-late-stage startups with a metaverse focus. At the time, Animoca co-founder and chairman Yat Siu outlined that the fund target was between $1 billion and $2 billion, depending on how much capital was raised.

In a public statement shared with Cointelegraph, Animoca stated that the claim that the Animoca Capital fund target was cut from $2 billion to $1 billion is not correct, because $1 billion has always been within the range declared.

The firm did acknowledge that the banking collapses in the United States have, of course, had an impact but stressed that the final amount raised for the fund has yet to be determined.

Theres no doubt that the FTX and banking crises have had a serious impact on available venture capital, but fundraising for the Animoca Capital fund is in progress. When the raise is concluded, we will inform the market with the appropriate details, including the final size of this fund, the firm stated.

Commenting on the leaked information, Siu told Cointelegraph that given the information came from unnamed sources, it makes it difficult to ascertain exactly who or what the sources and agenda are, which is unfortunate.

“Angry Birds was not created by Activision.” @viewfromhk, CEO of @animocabrands, explains in our exclusive chat at @ParisBlockWeek that major game companies don’t always drive innovation.

Is it time for a new generation of game developers to shine in Web3? #PBW2023 pic.twitter.com/UwcujLeGYY Cointelegraph (@Cointelegraph) March 22, 2023

Concerning the companys valuation, Animoca asserted that the figures reported by Reuters and an additional two other unnamed people cited were inaccurate.

Animoca, which trades as AB1, was initially listed on the Australian Stock Exchange (ASX) in the firms early days. However, AB1 was delisted back in March 2020 due the ASXs assertions that Animoca had breached its listing rules by being involved in crypto-related activities, among other things.

Since then, its shares have traded on unlisted stock-focused exchanges such as the Sydney-based PrimaryMarkets.

Related No shortage of passion in the Parisian people for PBW amid protests Animoca Brands CEO

The data from this platform was used to calculate a total market cap of AB1 at around roughly $2 billion. However, Animoca argues that these figures dont fully represent the companys total valuation. AB1 stock price. Source: PrimaryMarkets

The claim […] that Animoca Brands now trades its shares on PrimaryMarkets is not technically correct. We terminated our arrangement with PrimaryMarkets in the second half of 2020, but PrimaryMarkets chose to continue to trade Animoca Brands shares on its platform, the firm stated, adding that: We do not consider the thin trading activity on PrimaryMarkets to accurately reflect the companys value. Trading volume is far too low to provide the price accuracy you would find on an actual primary market. #Business #Funding #Stocks #Games #Metaverse #Blockchain Game #Web3 #Gaming

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Tata, Intel deepen India semiconductor push with pact on chip supply chain and AI PCs

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Tata, Intel deepen India semiconductor push with pact on chip supply chain and AI PCs

Signage for Tata Electronics Pvt Ltd. at the company’s factory in Hosur, Tamil Nadu, India, on Tuesday, Aug. 5, 2025.

Bloomberg | Bloomberg | Getty Images

Tata Electronics has lined up American chip designer Intel as a prospective customer as the division of Mumbai-based conglomerate Tata Group works to expand India’s domestic electronics and semiconductor supply chain. 

Under a Memorandum of Understanding, the companies will explore the manufacturing and packaging of Intel products for local markets at Tata Electronics’ upcoming plants.

Intel and Tata also plan to assess ways to rapidly scale tailored artificial intelligence PC solutions for consumers and businesses in India. 

In a press release on Monday, Tata said that the collaboration marks a pivotal step towards developing a resilient, India-based electronics and semiconductor supply chain.

“Together [with Intel], we will drive an expanded technology ecosystem and deliver leading semiconductors and systems solutions, positioning us well to capture the large and growing AI opportunity,” said N Chandrasekaran, Chairman of Tata Sons, the principal investment holding company of Tata companies. 

Tata Electronics, established in 2020, has been investing billions to build India’s first pure-play foundry. The facility will manufacture semiconductor products for the AI, automotive, computing and data storage industries, according to Tata Electronics

The firm is also building new facilities for assembly and testing. 

India, despite being one of the world’s largest consumers of electronics, lacks chip design or fabrication capabilities. 

However, the Indian government has been working to change that as part of efforts to reduce dependence on chip imports and capture a bigger share of the global electronics market, which is shifting away from China.

Under New Delhi’s “India Semiconductor Mission,” at least 10 semiconductor projects have been approved with a cumulative investment of over $18 billion.

Intel CEO Lip-Bu Tan said the partnership with Intel was a “tremendous opportunity” to rapidly grow in one of the world’s fastest-growing computer markets, fueled by rising PC demand and rapid AI adoption across India.

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Ukraine war: The signs Putin is expecting more conflict, not less – and the frank conversation Keir Starmer needs to have

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Ukraine war: The signs Putin is expecting more conflict, not less - and the frank conversation Keir Starmer needs to have

With more than a thousand troops being killed or wounded every day, there’s no sign that Donald Trump’s push to end Russia’s war in Ukraine is reducing the battles on the ground.

Quite the opposite.

Ukraine‘s military chief says Vladimir Putin is instead using the US president‘s focus on peace negotiations as “cover” while Russian soldiers attempt to seize more land.

That means much greater pressure on the Ukrainian frontline, even as Russian and American, or American and Ukrainian, or Ukrainian and European, leaders shake hands and smile for cameras before retreating behind closed doors in Moscow, Alaska, and London.

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This was not an upbeat meeting of Ukraine and its allies

Putin’s not counting on peace

The lack of any indicators that the Kremlin is looking to slow its military machine down also makes the risk of war spreading beyond Ukraine’s borders increasingly likely.

It takes a huge amount of effort, time, and money to put a country on a war footing as Putin has done, partially mobilising his population, allocating huge portions of government spending to the military and realigning Russia’s vast industrial base to produce weapons and ammunition.

Putin has been in India to shore up support from Narendra Modi. Pic: Reuters
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Putin has been in India to shore up support from Narendra Modi. Pic: Reuters

But when the fighting stops, it requires almost as much focus and energy to switch a society back to a peace time rhythm.

Deliberately choosing not to dial defence down once the battles cease means a nation will continue to grow its armed forces and weapons stockpiles – a sure sign that it has no intention of being peaceful and is merely having a pause before going on the attack again.

The absence of any preparations by Moscow to slow the tempo of its military operations in Ukraine – where it has more than 710,000 troops deployed along a 780-mile frontline – is perhaps an indicator that Putin is anticipating more not less war.

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What is Putin trying to achieve in India?

How could the war end?

What happens next in Europe will depend on the content of any peace deal on Ukraine.

An all-out Russian defeat is all but impossible to conceive without a significant change of heart by the Trump White House and a massive increase in weapons and support.

The next best result for Ukraine would be a settlement that seeks to strike a fair balance between the warring sides and their conflicting objectives.

This could be done by pausing the fighting along the current line of contact before substantive peace talks then take place, with Ukraine’s sovereignty supported by solid security guarantees from Europe and the US.

But such a move would require Europe’s NATO allies, led by the UK, France and Germany, genuinely to switch their respective militaries and populations back to a wartime footing, with a credible readiness to go to war should Moscow attempt to test their support of Ukraine.

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Why Ukraine’s allies may welcome Trump walking away

Will Starmer level with the public?

That does not just mean increased spending on defence at a much faster rate – in the UK at least – than is currently planned. It is also about the mindset of a country and its willingness to take some pain.

France is already openly saying that parents may have to lose their children in a war with Russia, while Germany is requiring all 18-year-old men to undergo medical checks for possible national service.

No such tough but frank conversation is being attempted by Sir Keir Starmer with the British public.

The furthest his military chief has gone is to say “warfighting readiness” is his top priority.

But that is meaningless jargon for most of the public. Being ready for war is about so much more than what the professional armed forces can do.

Armies fight battles. Countries fight wars.

Read more:
UK unveils undersea tech
Navy chief offers chilling warning
Does Britain’s threat to Russia ring hollow?

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New UK military technology unveiled

Worst case scenario?

The other alternative when it comes to Ukraine is a scenario that sees a sidelined Europe unable to influence the outcome of the negotiations and Kyiv forced to agree to terms that favour Moscow.

This would include the surrender of land in the Donbas that is still under Ukrainian control.

Such a deal – even if tolerated by Ukraine, which is unimaginable without serious unrest – would likely only mean a temporary halt in hostilities until Putin or whoever succeeds him decides to try again to take the rest of Ukraine, or maybe even test NATO’s borders by moving against the Baltic States.

With Trump’s new national security strategy making clear the US would only intervene to defend Europe if such a move is in America’s interests, it is no longer certain that the guarantees contained in NATO’s founding Article 5 principle – that an attack on one member state is an attack on all – can be relied upon.

To have a sense of how a war with Russia might play out without the US on NATO’s side, Sky News and Tortoise ran a wargame that simulates a Russian attack on the UK.

In the scenario, Washington does not come to Britain’s defences, which leaves the British side with very few options to respond short of a nuclear strike.

👉Search for The Wargame on your podcast app👈

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Powerful earthquake in northern Japan triggers tsunami, injuring 33

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 Powerful earthquake in northern Japan triggers tsunami, injuring 33

A powerful earthquake struck off northern Japan, injuring 33 people and unleashing a tsunami.

The 7.5-magnitude quake struck at about 11.15pm local time, around 80 kilometers off the coast of Aomori prefecture.

Japan’s Fire and Disaster Management Agency said 33 people were injured, including one seriously, with most hurt by falling objects.

A road is congested with cars heading for higher ground in Tomakomai City December 8, 2025 after a magnitude 7.6 earthquake. Pics: AP
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A road is congested with cars heading for higher ground in Tomakomai City December 8, 2025 after a magnitude 7.6 earthquake. Pics: AP

A tsunami of 70cm was measured just south of Aomori, in Kuji port, Iwate prefecture, while levels of up to 50cm struck elsewhere in the region, the Japan Meteorological Agency said.

“I’ve never experienced such a big shaking,” said Nobuo Yamada, who owns a convenience store in Hachinohe, Aomori, in an interview with public broadcaster NHK.

Earlier on, the meteorological agency issued an alert for potential tsunami surges of up to 3m/10ft, with 90,000 residents ordered to evacuate.

Residents were urged by chief cabinet secretary Minoru Kihara to go to higher ground or seek shelter until advisories were lifted.

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People sheltering today in Kamaishi Elementary School in Kamaishi City, Miyagi Prefecture. Pic: AP
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People sheltering today in Kamaishi Elementary School in Kamaishi City, Miyagi Prefecture. Pic: AP

He said about 800 homes were without electricity, and that the Shinkansen bullet trains and some local lines were suspended in parts of the region.

Some 480 residents took shelter at the Hachinohe Air Base, defence minister Shinjiro Koizumi said, with 18 defence helicopters mobilised for damage assessments.

While Satoshi Kato, vice principal of a public high school in the same town, encountered traffic jams and car accidents en-route to the school as panicked people tried to flee.

Japan has recent experience of the perils of earthquakes – one in 2011 unleashed a tsunami that killed some 20,000 people and triggered a nuclear meltdown at the Fukushima Daiichi Nuclear Power Plant.

The earthquake warning off the coast of Aomori Prefecture, Japan. Pic: AP
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The earthquake warning off the coast of Aomori Prefecture, Japan. Pic: AP

Today’s quake caused about 450 litres of water to spill from a spent fuel cooling area at the Rokkasho fuel reprocessing plant in Aomori, the Nuclear Regulation Authority said.

But water levels remained within the normal range and there was no safety concern, the authority added.

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Tokyo overtaken as world’s biggest city
Japan sends in troops over deadly bear attacks

The Japanese government has now lifted all remaining tsunami advisories, but warned people to remain alert for another week in case of aftershocks.

Satoshi Harada, from the meteorological agency’s earthquake and volcano division, cautioned that the 2011 quake could repeat itself.

“You need to prepare, assuming that a disaster like that could happen again,” he said.

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