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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An insider has told Sky News people are still disappearing “daily” from asylum seeker hotels.
In an exclusive interview, the contractor described the chaos he sees within the system as “terrifying” because undocumented people are persistently absconding from hotels.
He spoke to us because he is deeply concerned about the ongoing lack of monitoring at a time when the government has promised to tighten the asylum system.
The man, who we are not naming, works across multiple asylum hotels in one region of England.
“When someone gets to about a week away from the hotel, they’re processed as an absconder,” he said.
“Nothing really happens there. They get marked as ‘left the hotel’ and a notification is sent to the Home Office.
“It’s at least weekly. Most of the time it can be daily.”
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The government moved last month to reset its immigration policy by promising to toughen the process for asylum seekers.
The latest figures up to September this year show 36,272 asylum seekers living in hotels.
Image: Failed asylum applicants are given a date to move out by, but they’re not actually picked up by the authorities, the insider says
Overall 110,000 people claimed asylum in the UK between September 2024 and September 2025 – higher than the previous recorded peak of 103,000 in 2002.
The hotel contractor also described to Sky News what he says happens when a resident’s claim for asylum is rejected.
“They get given a date that they need to move out by,” he said.
“You would expect immigration enforcement to go to the hotel to pick these people up. You would expect them to not even be told that they failed their asylum claim.
“You would expect them to just be collected from the hotel… that doesn’t happen.”
He told us that some residents just walk out of the door with no further checks or assistance.
Image: The whistleblower spoke to Sky News’ Tom Parmenter in the exclusive interview
“It must be terrifying for these people as well… ‘what do I do now? I don’t have an address’.
“So what do they do? How do they survive?
“Do they then get forced… to go into an underground world?
“They’re just completely invisible within society.
“For those people to freely be allowed, undetected and unchecked, on the streets of this country is terrifying.”
His account from within the system contrasts with the government’s promises to restore control over the asylum process.
Image: Police and protesters outside the Bell Hotel, Epping, where asylum seekers have been housed. Pic: PA
In response to the interview, a Home Office spokesperson said: “This government will end the use of hotels and have introduced major reforms to the asylum system, to scale up removals of people with no right to be here and address the factors drawing illegal migrants to the UK in the first place.
“Nearly 50,000 people with no right to be in our country have been removed and enforcement arrests to tackle illegal working are at the highest level in recent history.
“A dedicated team in the Home Office works with police, across government and commercial companies to trace absconders. Failure to return to a hotel can also lead to asylum claims and support being withdrawn.”
At a community kitchen in Greater Manchester, organisers told us they regularly see people who are living under the radar – surviving with “cash in hand” jobs.
Image: Volunteer Shabana Yunas says the situation is ‘getting worse’ and ‘it is dangerous’
Volunteer Shabana Yunas helps many hungry and desperate people. She also feels the tension it causes in her community.
“People don’t know who they are and I understand a lot of people are afraid… but if there’s those things in place where we can monitor who is around, then everybody can feel a lot safer.
“If people are coming into the UK and we don’t know who they are and they’re just disappearing, crime rates are going to go up, slavery is going to go higher, child exploitation is going to be more exposed.
“They are too afraid to go to the authorities because they are scared of being deported to a country where their lives could be at risk.
“It’s getting worse, it is dangerous and we do need to do something about this where we can support people.”
Image: Kitchen volunteer Khalid, from Ethiopia, has had his application for asylum rejected four times
Another volunteer at the kitchen is Khalid.
He arrived in the UK in 2015 having travelled from Ethiopia – he hid on a lorry to get into England.
He has applied for asylum and been rejected four times.
He has recently submitted another application and told us political violence at home meant he could not return.
Crucially, he knows plenty of people living off-grid.
“Yeah, they don’t care about what the government thinks, because they already destroyed their life,” he told us.
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Although Khalid now has somewhere to stay, he has previously considered turning to crime to give himself the stability of life in prison.
“I was in depression. I was like, I wanna do some criminal and go jail, to stay in a prison.
“Once upon a time, I’d prefer that way.”
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The visa overstayers in ‘soft’ Britain
Khalid is now volunteering to give his life more purpose as he waits for another decision from the Home Office.
He says he doesn’t blame people who think he should be deported back to Ethiopia.
When asked if he should have been, he said: “That is up to Home Office, like up to government.”
Stopping small boats, clearing backlogs, closing hotels, enforcing the rules and restoring faith in the system are all priorities for the Home Office – solving it all is one of the defining challenges for the Starmer government.
Dan Wetzel is a senior writer focused on investigative reporting, news analysis and feature storytelling.
Dec 11, 2025, 11:33 AM ET
Former Michigan football coach Sherrone Moore, who remains in custody as a suspect in an alleged assault, is expected to appear in court for arraignment on Friday, the Pittsfield Charter Township (Michigan) Department of Public Safety announced Thursday.
The Washtenaw County Prosecutor’s Office told ESPN that it does not expect a decision Thursday on whether to file criminal charges against Moore. Authorities have yet to release details about Moore’s arrest, other than to say that he remains under investigation.
Moore was incarcerated at the Washtenaw County Jail on Wednesday, just hours after he was fired as the Wolverines’ football coach for having what the school said was an “inappropriate relationship with a staff member.”
“The matter involving Mr. Moore remains under active investigation by law enforcement, and as a result, we do not expect charging decisions or an arraignment today,” Washtenaw County Prosecutor’s Office spokesperson Liz Mack said Thursday. “Mr. Moore remains in custody at the Washtenaw County Jail.”
Pittsfield police released a statement Wednesday night saying they responded at 4:10 p.m. to the 3000 block of Ann Arbor Saline Road “for the purposes of investigating an alleged assault. … A suspect in this case was taken into custody. This incident does not appear to be random in nature, and there appears to be no ongoing threat to the community.”
Moore was initially detained by police in Saline, Michigan, on Wednesday and turned over to authorities in Pittsfield Township “for investigation into potential charges.”
Michigan fired Moore on Wednesday following an investigation into his conduct with a staff member.
“U-M head football coach Sherrone Moore has been terminated, with cause, effective immediately,” the school said in a statement. “Following a University investigation, credible evidence was found that Coach Moore engaged in an inappropriate relationship with a staff member.”
The university initially investigated Moore this fall after receiving a tip about the situation but did not find credible evidence of wrongdoing, a source told ESPN. More information came forward Wednesday that the source said was “overwhelming” and led to Moore’s immediate dismissal.
Moore, 39, spent two seasons as Michigan’s coach after serving as the team’s offensive coordinator.
Dave Wilson is a college football reporter. He previously worked at The Dallas Morning News, San Diego Union-Tribune and Las Vegas Sun.
The dates for the first nine-game SEC schedule were released on Thursday, and all eyes are on Sept. 19, when Lane Kiffin and LSU return to Ole Miss after Kiffin’s dramatic exit for Baton Rouge.
Among other marquee games scheduled for 2026: Georgia travels to Alabama on Oct. 10 after they split two matchups in 2025: Alabama won in Athens and Georgia won in Atlanta in the SEC title game.
On Nov. 14, Arch Manning returns to his home state of Louisiana with Texas to face LSU, as former USC and Alabama colleagues Steve Sarkisian and Kiffin face off.
The following week, on Nov. 21, Kiffin leads LSU into Knoxville against Tennessee, which also was jilted by Kiffin after one season in 2009.
Kiffin is one of six SEC coaches in new places: Pete Golding at Ole Miss, Will Stein at Kentucky, Ryan Silverfield at Arkansas, Alex Golesh at Auburn and Jon Sumrall at Florida.
Stein debuts in the SEC’s first league matchup on Sept. 12, when Alabama travels to Kentucky. There are two other marquee matchups that week, when Oklahoma travels to Michigan and Ohio State visits Texas. The following week, Alabama gets a home rematch against Florida State, who beat the Tide in Week 1 of the 2025 season, and Sumrall and Golesh meet in the first Florida-Auburn game on the Plains since 2011.
On Rivalry Week, Texas at Texas A&M remains on Friday, Nov. 27, but the Egg Bowl moves to Saturday, with Mississippi State facing Golding and Ole Miss in Oxford, along with the Iron Bowl, with Auburn visiting Alabama.
The new format also allows for some new fan experiences. On Sept. 26, Texas visits Neyland Stadium and Tennessee for the first time in history for a battle for UT supremacy. On Oct. 17, Kentucky visits Oklahoma for the first time in 46 years, and the Sooners travel to Mississippi State for their first-ever meeting. Texas A&M rekindles an old Big 12 rivalry against Oklahoma in Norman, the first time the two have met since 2011.
In order to work out the new scheduling rules, some teams will play road games for a second straight year against the same team, like Arkansas, which returns to Texas, and Texas A&M, which returns to Missouri.
The additional conference game has limited the amount of programs playing smaller teams in nonconference matchups in Week 12, traditionally a tune-up game before rivalry week. This year, there are just four such games on Nov. 21: Alabama (UT-Chattanooga), Auburn (Samford), Ole Miss (Wofford) and Mississippi State (Tennessee Tech).
The league also sought to preserve three annual rivalries for each team, with the remaining six games rotating among the remaining schools. Each team will face every other SEC program at least once every two years and every opponent in a home and away over a four-year span.
As part of the restructured schedule, the league said each school will be required to schedule at least one Power 4 opponent from the ACC, Big Ten, Big 12 or Notre Dame.
The top two teams in league standings based on winning percentage will play in the SEC Championship in Atlanta on Dec. 5.