The Future Fund last year was closely watched by both investors and companies seeking investment. It delivered more than £1.1 billion in convertible loans to over 1,140 applicants. Quite a feat given the speed at which it was rolled out!
On June 26, the Financial Conduct Authority (‘FCA’) issued a consumer warning against the world’s largest cryptocurrency exchange, Binance, effectively preventing the exchange from conducting any form of regulated financial activity in the UK. As such, individuals who trade on the platform (and most similar platforms) will not be entitled to access the Financial Ombudsman Service or the Financial Services Compensation Scheme should something go wrong with their investment.
The retail industry was already facing challenges before the pandemic turned the world upside down and accelerated inevitable changes for the retail industry– especially for bricks and mortar businesses. It, therefore, doesn’t come as a surprise that ASOS only purchased the Topshop brand and Boohoo plc only bought the Debenhams brand. In both acquisitions, the real estate was not part of the deal and consequently the employees at those locations were left behind.
With the dust having settled on 2020, despite the pain felt elsewhere in the economy, it’s apparent that venture investment in UK technology companies remained far stronger than many feared.
Investing in cryptoassets (or digital “tokens”) is high risk. However with the high-risk comes great returns for those investors who are able to hold their nerve.
