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Crypto platform Tron strikes deal with Nasdaq-listed company

Crypto platform Tron strikes deal with Nasdaq-listed company

Tron, the cryptocurrency platform led by Justin Sun, has announced a significant deal with Nasdaq-listed SRM Entertainment. Under the agreement, SRM will be renamed Tron Inc., with Sun joining as an adviser and the company purchasing Tron tokens.

A private investor plans to inject $100 million into the deal, potentially reaching $210 million if warrants are exercised. While the Financial Times reports that Tron itself is the investor and aims to go public through a reverse merger with SRM, neither company has confirmed these details.

The deal was facilitated by Dominari Securities, a New York investment bank whose parent company recently added Donald Trump Jr. and Eric Trump to its board. Notably, Sun has connections to Trump’s World Liberty Financial crypto venture, having invested $75 million in the project and listed its USD1 stablecoin on the Tron network. Sun, who faces an ongoing SEC civil fraud lawsuit (currently on hold), has established himself as a significant figure in both cryptocurrency and Trump-affiliated business ventures. SRM Entertainment, known for designing and selling custom merchandise, saw its stock price surge over 300% following the announcement, climbing from $1.45 to $6.70.

Read the original article here: https://www.msn.com/en-us/money/companies/crypto-platform-tron-strikes-deal-with-nasdaq-listed-company/ar-AA1GPAmR?ocid=BingNewsVerp

Eye on IPO shores, companies set sail for Cayman

Eye on IPO shores, companies set sail for Cayman

The Cayman Islands, a self-governing British Overseas Territory, is gaining traction as the new pitstop for Indian startups building software products for global markets. These software-as-a-service (SaaS) companies are increasingly looking to the Caribbean island as a flexible option to tap into capital markets, either at home or overseas.

According to multiple industry sources, the push to register these Indian SaaS startups in the tax-neutral Cayman Islands is being led by their venture capital backers, including prominent investor Accel Partners. This shift in preference is driven by the startups’ desire to have the flexibility to list in India, the US, or pursue a future dual listing.

Previously, the US was the preferred destination for most Indian SaaS companies, as the bulk of their customers were American entities. Freshworks was the first Indian SaaS company to list on American bourses, followed by other top players like Chargebee, Icertis, and Innovaccer.

However, this trend is now changing as the Indian stock markets become more attractive, and the bar for IPO in the US becomes more challenging. The Cayman Islands’ tax-neutral status and flexibility in managing complex global footprints make it an appealing choice for Indian SaaS startups.

However, experts caution that the Cayman Islands route is not without its downsides, such as the absence of a double taxation avoidance treaty with India and potential capital gains tax implications in the event of share swaps. The ecosystem needs to navigate these uncertainties carefully, as reverse flips or shifts in domicile can be a costly affair.

As Indian SaaS startups continue to expand their global footprint, the Cayman Islands’ emergence as a preferred domicile reflects the evolving landscape and the startups’ quest for flexibility and access to diverse capital markets.

Read the original article here: https://www.msn.com/en-in/money/markets/eye-on-ipo-shores-companies-set-sail-for-cayman/ar-AA1GyDIg?ocid=BingNewsVerp

Kagiso Rabada creates history, becomes first player in 48 years to achieve rarest of rare feat

Kagiso Rabada creates history, becomes first player in 48 years to achieve rarest of rare feat

In a historic achievement, South African fast bowler Kagiso Rabada has become only the second player in 141 years to have his name inscribed on both the home and away honours boards at the iconic Lord’s Cricket Ground.

Rabada’s exceptional performance in the ongoing World Test Championship (WTC) 2025 final has been the driving force behind South Africa’s quest for their first ICC trophy in 27 years. The Proteas are facing off against Australia in the final at Lord’s, with Rabada leading the bowling attack. In the first innings, Rabada picked up a five-wicket haul, bundling out Australia for 212 runs. This feat has earned him a place on the home honours board at Lord’s, a distinction usually reserved for England players.

Rabada’s name was already etched on the away honours board at Lord’s, having previously picked up a five-wicket haul against England in 2022. He is now the second player in the 141-year history of Test cricket at Lord’s to have his name on both the home and away honours boards, joining the legendary West Indian all-rounder Gordon Greenidge.

Greenidge, the only other player to achieve this feat, had his name on the away honours board twice for his 214* and 103 against England in 1984 and 1988, respectively. He also earned a place on the Lord’s honours board when he scored 122 for the Marylebone Cricket Club (MCC) against the Rest of the World in 1987.

Rabada’s historic accomplishment comes 48 years after Greenidge’s feat, further solidifying his place in cricket history. As South Africa continues their quest for the elusive WTC title, Rabada’s performance and this remarkable achievement will undoubtedly inspire the team to reach new heights.

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Empowering Every User: Exploring Digital Accessibility with SaralX

Empowering Every User: Exploring Digital Accessibility with SaralX

In today’s digital age, accessibility is not merely at times obligation but a fundamental necessity for fostering an equitable and inclusive online environment. SaralX, an Indian startup, is spearheading efforts to dismantle such barriers and empower organizations to embrace the principles of inclusive design. This ensures that their digital assets are accessible to individuals with disabilities.

Bangladesh’s Fashion Startup Evolution | Webinar Recording

Bangladesh’s Fashion Startup Evolution | Webinar Recording

The webinar explores how Fabraex, a budding Bangladeshi fashion startup, bridges the gap between traditional and modern fashion by empowering locals with unique designs. CEO Saqlain presents on Fabraex’s challenges and opportunities, highlighting their stylish, ethical, and affordable fashion fabrics.

COVID-19’s impact on Commonwealth FDI

COVID-19’s impact on Commonwealth FDI

The importance of foreign direct investment (FDI) for both intra-and-extra Commonwealth trade cannot be overstated, especially concerning global value chains (GVCs) structure and operations. FDI supports domestic firm participation in global networks of production and provides a channel for them to gain access to international markets partially via facilitating their integration into trans-border supply chains.

Commonwealth Trade and Digitalisation

Commonwealth Trade and Digitalisation

The Commonwealth’s share in global ICT goods fell from 14.5 per cent in 2010 to 11.7 per cent in 2019 albeit in absolute value terms it increased from US$522.1 billion to US$547.7 billion.

Global Wealth Management: How does the Muslim world do it?

Global Wealth Management: How does the Muslim world do it?

“Global Attitudes to Islamic Wealth Management” is an enlightening and unprecedented report compiled by Jersey Finance, a not-for-profit organisation representing Jersey as an international finance centre (IFC), in partnership with Gateway Global, a team of Shari’a experts, lawyers, financiers, accountants and regulators well versed in multi-jurisdictional legal practice.

CHOGM 2022

CHOGM 2022

In the last week of June, thousands descended on the beautiful city of Rwanda called Kigali, gathering with great anticipation of the first international post-pandemic Commonwealth event, the Commonwealth Heads of Government Meeting (CHOGM) 2022.As a delegate...

Alternative Dispute Resolution in Bangladesh- Endless Potential

Alternative Dispute Resolution in Bangladesh- Endless Potential

Dr. Khaled H. Chowdhury on Alternative Dispute Resolution, Bangladesh, and the Commonwealth - History, Endless Possibilities, and Challenges   Interviewed by Commonwealth Chamber Correspondent Arafat Reza.   Having been called to the Bar of England and Wales in 1995,...

A Golden Opportunity for the Golden Crop

A Golden Opportunity for the Golden Crop

Sanctions against Russia combined with the winter wheat in Ukraine looking to go unharvested, a global energy crisis, and increased insurance for cargo ships in the Black Sea, it is easy to predict what will happen to the price of these wheat exports.