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Crypto

Animoca invests in Ava Labs to support Avalanche expansion in Asia and Middle East

Animoca Brands has entered a strategic partnership with Ava Labs to expand the Avalanche blockchain, Cointelegraph reported on March 19. The collaboration targets the Asia and Middle East markets, with a focus on strengthening real-world asset tokenisation, digital identity and entertainment. Animoca plans to provide capital and consulting to Avalanche-based projects and use its regional network to support business expansion, including links to institution- and government-backed projects.

AI & Enterprise

Super Micro co-founder arrested over $2.5 billion AI chip smuggling allegations

U.S. government authorities arrested Super Micro co-founder Wally Liao on allegations of smuggling AI chips worth $2.5 billion, Cointelegraph reported on Thursday. Authorities said Liao and sales executives Steven Chang and Willy Sun illegally sold servers with sensitive GPU components to Chinese companies in violation of export controls. They allegedly used falsified documents and shell firms. Super Micro said it is cooperating and fired those involved.

Crypto

Gemini faces lawsuit after post-IPO strategy shift, shares slide

Cryptocurrency exchange Gemini has been hit with a class-action lawsuit after abruptly shifting its business model toward prediction markets following its listing, Cointelegraph reported on March 19. Shareholders sued Gemini, co-founders Tyler and Cameron Winklevoss, and executives, alleging false information was provided at the time of the IPO. Gemini shares began trading at $28, rose to $40, then fell more than 80 percent to around $6.