XanPay Announces Partnership with Elitedias Game Platform on New Payment Options across Southeast Asia
– Elitedias leveled up, offering new payment options catered to local preferences – The game top-up company expanded to 3 countries – Malaysia, Indonesia, Australia – Homegrown users has grown 5x within 3 months of integration HONG KONG – January 2022 – Elitedias, the Singapore-based game credits top-up platform launches new payment options with XanPay across Southeast Asia to differentiate themselves in the competitive gaming landscape. Gaming has become very popular during the pandemic. Up to 40% of the world’s top gaming markets are located in Asia and Elitedias was born to cater to this exact demand. The game credits top-up brand first started selling the credits on Carousell to their friends, cheaper than what the Apple’s AppStore or Google’s PlayStore were offering. In a few months, they quickly realized that this would benefit a much bigger gamers market than they had anticipated. Elitedias team has a strong focus on their homebase market, Singapore. Apart from the usual credit card options, they look to include local payment method options to suit modern preferences. Despite XanPay being one of the newest payment options, the team observed an increasing number of users who ...
Elon Musk sells $2.1 billion of Tesla stock to meet taxes
NEW YORK (BLOOMBERG) - Tesla chief executive officer Elon Musk exercised 2.15 million stock options in the electric car-maker, and then sold stock, shortly after he held a vote over Twitter asking his followers whether he should sell some of his stock. Mr Musk on Monday (Nov 8) exercised the options at a price of $6.24 per contract, according to a regulatory filing on Wednesday. He subsequently sold 934,000 shares to collect a combined US$1.55 billion (S$2.1 billion). The shares were sold "solely to satisfy the reporting person's tax withholding obligations related to the exercise of stock options," the filing said. The contracts, which came from a stock option award Mr Musk received in 2012, were set to expire in August next year. Tesla closed Wednesday at US$1,067.95 after plunging almost 13 per cent this week. It's the billionaire's first sale since 2016, when he last exercised stock options and liquidated some of his newly acquired shares to cover about US$590 million of income taxes. The sale was prompted by a Nov 6 poll Musk set up on Twitter, saying that "much is made lately of unrealised gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock." Almo...
Didi handed bosses stock options worth billions before IPO
NEW YORK (BLOOMBERG) - Didi Global handed a group of senior executives and board members a sweet perk in the weeks before its initial public offering: shares worth billions of dollars. The gift came in the form of stock options, free from the usual four-year vesting restriction and with a strike price Didi described in regulatory filings as "nominal". That means the recipients are able to convert them into normal shares at almost no cost and sell them once the six-month lockup period expires. The grants, which were disclosed in a June 28 amended version of its registration statement, may add another source of consternation for investors on Tuesday (July 6) after Chinese regulators stepped up scrutiny of the ride-hailing giant and ordered that it must be removed from app stores in its home market, sending the stock down more than 20 per cent during the day. Didi said in the filing that it issued 66.7 million options in the second quarter to an unspecified number of senior leaders. Of those, 63.5 million vested immediately. The vested options were worth as much as US$3.1 billion (S$4.2 billion) as at 2.42pm in New York, according to calculations by Bloomberg News. That is down from U...
Bit.com to Launch Industry’s First BCH Options
SINGAPORE, Jan 20, 2021 - (ACN Newswire) - Bit.com, the secure and high-performance derivatives exchange by Matrixport, will be launching Bitcoin Cash (BCH) perpetual swaps and options. BCH options trading will go live on 01 Feb 2021, following the launch of BCH perpetual swaps on 20 Jan 2021.Bit.com's offering of Bitcoin Cash options is the first of its kind in the industry. Bitcoin Cash has been in the limelight as one of the major cryptocurrencies recognized by institutions, and constantly ranks No. 6 or 7 on the Top 10 list. However, there has been no options market for BCH and the liquidity of the perpetual swaps also has room for improvement. To put things into perspective, Bitcoin (BTC) and Ethereum (ETH) derivatives market grew tremendously during the past few years, and so did their relative shares of the underlying spot trading volume. Currently, the cryptocurrency perpetual swaps market is dominated by BTC, which accounts for ~53% of the market share, while ETH attributes to 20%. BCH takes only 1% of the crypto perpetual swap market share, which is disproportionate to the relative market share of the underlying asset. Similar for options market, market is hugely dominate...