Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
- Emirates Telecommunications Group proposes to snap a $400 million stake in Uber Technologies Inc’s (NYSE:UBER) Middle Eastern subsidiary-developed super app Careem.
- The Abu Dhabi-based telco firm, also Vodafone Group Plc’s (NASDAQ:VOD) biggest investor, inked a binding agreement with Uber and its regional subsidiary, Careem, to acquire a 50.03% stake in the super app spin-out, Bloomberg reports.
- Uber, which acquired Careem in 2020, will remain a shareholder in the new entity and continue owning all of Careem’s ride-hailing business. All three of Careem’s co-founders will also be shareholders in the super app.
- Careem will use the new funds to expand its services across the region.
- Careem’s super app includes a dozen services, including food and grocery delivery, remittances, and third-party services. Careem is available in 10 countries across the Middle East, North Africa, and South Asia.
- Careem started raising funds for its super app over a year ago. However, technology firms struggled to attract investment after rising interest rates ended cheap money.
- Price Action: UBER shares traded lower by 0.80% at $30.93 on the last check Monday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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