Chinese lidar maker Hesai said it has raised $300 million in a funding round led by Hillhouse Capital Group, smartphone maker Xiaomi, on-demand services firm Meituan and CPE, the private equity arm of asset manager Citic. Lidar sensors are key to vehicles’ self-driving functions. The Shanghai-based startup’s fundraising comes as China’s autonomous driving technology companies, such as Baidu,...
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Why the CFTC’s Binance Lawsuit Is Good News for Coinbase
Privately held crypto exchanges are setting new lows in corporate governance. If you thought the initial bankruptcy filing for Sam Bankman-Fried’s FTX was stunning in what it revealed about how that company was run, check out the Commodity Futures Trading Commissions lawsuit against Binance today. Here’s a business empire controlled by one person, Changpeng Zhao, which has no board of directors...
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