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Crypto

Crypto investment products see bigger net inflows, led by bitcoin rebound

Crypto funds recorded $1.2 billion in net inflows in the week ended April 24, extending inflows to four consecutive weeks. Total assets under management rose to $155.276 billion, the highest since Feb. 1, as bitcoin rebounded above $77,000 for the first time since a February correction. Bitcoin products took in $932.5 million, while Ethereum products saw $192.4 million. Inflows also expanded to Solana and XRP, while multi-asset products saw outflows.

Telecommunications & Media

Netflix wins South Korea corporate tax suit, 68.7 billion won of 76.2 billion won cancelled

Netflix\'s South Korean unit effectively won a corporate tax lawsuit against tax authorities after a court ruled payments to its Dutch unit were compensation for services rather than copyright royalties. The Seoul Administrative Court ordered the cancellation of 68.7 billion won of the 76.2 billion won assessed. The case stemmed from a 2021 tax audit. Netflix had sought full cancellation of the remaining assessed tax in a suit filed in November 2023.

Industry

China LED chip maker Sanan Optoelectronics drops bid for Dutch firm after U.S. security review

Chinese LED chip maker Sanan Optoelectronics has abandoned its planned acquisition of Dutch technology company Lumileds Holding after opposition from U.S. authorities. Its Malaysian partner, Inari Amertron Berhad, withdrew a $239 million cash offer after the Committee on Foreign Investment in the United States cited “unresolvable” national security risks. Sanan said CFIUS asked for the filing to be withdrawn and the deal to be abandoned, and both sides halted the process.