Rajeev Misra—one of the key architects of SoftBank’s aggressive and sometimes controversial bets on global tech companies—will take a step back from running the firm’s Vision Fund 2 to set up his own fund. SoftBank told staff in a memo on Thursday that Misra would relinquish his role as CEO of the company’s banner fund in order to run another outside fund, according to a person familiar with...
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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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