A U.S. federal judge said the Securities and Exchange Commission (SEC) had engaged in "gross abuse of the power entrusted to it by Congress" in its dispute with blockchain technology firm Digital Licensing, which does business as DEBT Box. The regulator had sued the blockchain company in July last year, accusing it of defrauding investors of nearly $50 million. Chief District Judge Robert Shelby said on Monday the SEC acted in "bad faith" and was "deliberately perpetuating falsehoods" in its efforts to obtain an asset freeze and a temporary restraining order against the company.
Facebook co-founder Eduardo Saverin's global investment firm B Capital on Tuesday announced the close of its second Opportunities Fund, with total fundraising of $750 million as it bets on late-stage startups. The fund will mainly be used to identify investment opportunities in existing portfolio companies in sectors like technology, healthcare and climate tech, B Capital said in a statement. The fund received strong participation from both existing and new investors, said B Capital, which has in the past backed Indian startups like Think & Learn's Byju's, Meesho and Pharmeasy.
Just like battery-electric cars 20 years ago, hydrogen fuel cell cars suffer from the old chicken and the egg problem. Nobody wants to buy a fuel cell vehicle until the supporting infrastructure is in place, but it's tough to invest in infrastructure when nobody owns a fuel cell vehicle. Honda says it's playing the long game with a lofty goal in mind.