Crypto

Aracore joins Paxos Global Dollar Network

Aracore, the U.S. subsidiary of blockchain and AI company BPMG, said on Sept. 18 it has joined the Paxos-led Global Dollar Network as a partner. The company plans to build institutional digital finance infrastructure based on multiple stablecoins, including USDG. It will link stablecoins with institutional financial networks using its Institutional Settlement Network and expand cross-border remittance, payment and settlement services through partnerships with K Bank, HashKey and VirgoPAY.

Finance

Musk longtime ally Valor distributes 8.5 percent of SpaceX stake in kind to investors worth $8.5 billion

Valor Equity Partners, a long-term investor in SpaceX, distributed part of its stake directly to limited partners rather than selling it, TechCrunch reported. The firm allocated 8.5 percent of its SpaceX shares, a transfer estimated at about $8.5 billion. SEC filings cited by Bloomberg show Valor has invested in SpaceX for decades. Valor will still hold more than 460 million SpaceX shares after the distribution.