We look at Huobiâs state of affairs and Baozunâs acquisition of Gap Greater China. [Read from your browser]( Daily Newsletter --------------------------------------------------------------- Welcome to Tech in Asia's free Daily Newsletter! Get full access to our subscribers-only Daily Newsletter and other insightful analysis on the big and messy topics of Asiaâs tech and startup community by [registering here](. --------------------------------------------------------------- Hello {NAME} Maybe I just donât have the stomach for it. I used to be a rather regular crypto investor up until the crash last year. It wasnât much but it was enough that I certainly felt the pain when everything went south. When that happened, I started reading up on what to do and asked people for advice. I know, I know, the old adage of âDo your own research.â Still, I was quite inexperienced at the time so I followed what I read from many sources: that it was more important to consistently invest. That said, it eventually became clear that there was so much going on in the space - not just price drops, but a multitude of bad actors and poorly managed projects - and I was definitely not being diligent enough. When FTX collapsed, I took that as a sign that maybe waiting around a little longer with my money might be a better idea. If something as huge as FTX could fail so spectacularly, then the legitimacy of every other player in the crypto sector was also called into question, no matter how big they might be. One trading platform thatâs fallen under this shadow is Huobi Global, with a proof of reserve showing that it holds over 9.7 billion Tron tokens. Todayâs story explores what this finding implies about the firm. -- Jonathan
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THE BIG STORY [Does Huobi have a ticking time bomb on its hands?](
Just eight months after UST crashed, another algorithmic stablecoin faces issues. This one could take down global exchange Huobi.
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--------------------------------------------------------------- GET HEARD ON TECH IN ASIA! We want to hear from you! More than 1,600 tech employees were laid off per day on an average in 2023 so far, globally. However, could this be an overreaction? or, an instance of [âcopycatâ layoffs]( Kindly [fill out this form]( to share your views on the mass layoffs sweeping across the tech industry with the Tech in Asia community! Best responses will be shared with the Tech in Asia community on the Sunday newsletter. --------------------------------------------------------------- TRENDING NEWS
[APAC sees 22% drop in M&As while India flourishes: report](
India logged an all-time high for both strategic M&A deal volume and value, according to Bain & Company.
[Taiwan-based WeMo raises $15m for SEA EV push](
AppWorks led the series A+ round, with Taiwan Development Fund participating.
[Capital SEA: Southeast Asiaâs funding landscape (updated 01 Feb 2023)](
Who are the new active investors on the block? Which funding rounds look like outliers? This visual story answers all this and more.
[MUFG sets up $100m fund for Indonesia](
The financial group, one of the worldâs largest, previously invested US$200 million into Akulaku, an Indonesia-based fintech firm.
[Baozun completes acquisition of Gap Greater China](
The company announced last November that the deal could worth up to US$50 million.
[East Ventures backs Indonesian cybersecurity firm](
Peris.ai offers services including penetration testing, vulnerability assessments, and bug bounty programs. ---------------------------------------------------------------
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TECH IN ASIA'S REGIONAL FOUNDERS MEETUP: SINGAPORE
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Join us and share the hardest challenges youâve faced as a founder Tech in Asia is inviting Singapore-based entrepreneurs to our first Regional Founders Meetup, which will be held on February 22 at Crane (148 Arab Street, Singapore 199831) from 5 p.m. to 7 p.m. Join us and share the hardest challenges youâve faced as a founder. To help you find solutions, weâll introduce you to fellow founders who have been there and done that. It doesnât have to be a lonely journey. [Register]( for this exclusive event here today. Tickets are priced at S$15 per person, inclusive of light bites and one drink. Slots are limited and are available on a first come, first served basis. AWS and CleverTap, our official event partners, have provided invaluable support to make this meetup a success. ---------------------------------------------------------------
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EVENTS HAPPENING You can also check out a curated list of trending tech events [over here](. - [Tech in Asiaâs Product Development Conference 2023]( from May 16 to May 17
Tech in Asiaâs Product Development Conference is back! This yearâs edition, which will be held in person in Jakarta, will feature over 20 industry leaders, experts, and innovators sharing the latest trends and strategies that can accelerate product development growth. [Register now]( and you can get two tickets for the price of one. This early bird promo is available for a limited time only, though, so donât miss out!
 - [Tech in Asiaâs Founders Meetup: Singapore on February 22](
Our networking event, Founders Meetup: Singapore, is happening on February 22, at Crane (Arab Street). Join us and share the hardest challenges youâve faced as a founder. To help you find solutions, weâll introduce you to fellow founders who have been there and done that. Register today! - [Tech in Asia School: Growth Bootcamp](
Our fast-paced March Growth Bootcamp is for startup, product, and marketing leaders looking to supercharge their companyâs traction. Apply today! ---------------------------------------------------------------
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