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Crypto

Digital Asset raises $355 million led by a16z at $2 billion valuation

Digital Asset Holdings raised $355 million at a valuation of about $2 billion. The funding round was led by a16z Crypto, which invested $100 million, with participation from 7RIDGE, Abu Dhabi Investment Authority, Citadel Securities and Optiver. Digital Asset plans to use the proceeds to expand the Canton Network, which supports financial institutions in tokenising and settling securities without disclosing sensitive commercial data.

Finance

Supply chain reshuffle, tech rivalry deepen; call grows for more precise financial policy

Calls are growing to redefine the roles of policy finance and private finance and to change not only the scale of funding but also how it is allocated, as supply chain uncertainty and technology rivalry intensify. Speakers at a Seoul seminar said financial policy should be refined to support strategic industries, small manufacturers and early-stage innovators. They also cited the need to expand direct finance and venture capital, improve exit markets and strengthen expertise at financial institutions.

AI & Enterprise

SpaceX alumni bet on solar and batteries as AI data centre power demand surges

As power demand from AI data centres surges, founders with SpaceX backgrounds have entered a new power supply business combining solar power and batteries. U.S. energy startup Ambrosia Energy is developing a system targeting AI data centres, aiming to supply stable 24-hour power. It targets a power cost of about $100 per MWh and says plants can be built within 12 months of signing contracts. The company has begun building its first plant in West Texas.