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Singtel Sells $1.16 Billion Stake in Bharti Airtel to Fund Digital Investments

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Singapore Telecommunications (Singtel) has sold a 0.8% stake worth about $1.16 billion in India’s Bharti Airtel, as part of its ongoing plan to recycle assets and boost investments in digital infrastructure, the company announced on Friday.

Singtel’s investment arm Pastel sold 51 million shares of Bharti Airtel, India’s second-largest telecom operator, at 2,030 rupees ($23.10) per share — about 3.1% below the stock’s previous close. The transaction was executed through a private placement to institutional investors.

The sale is part of Singtel’s S$9 billion (US$6.6 billion) mid-term asset recycling program, which aims to raise funds for expansion in digital services, data centers, and next-generation connectivity.

Following the divestment, Singtel now holds a 27.5% stake in Bharti Airtel, down from 31.4% in 2022, continuing a gradual reduction of its holdings since first investing in the Indian company in 2000.

Singtel said the sale will generate an estimated S$1.1 billion ($805 million) in gains, benefiting from Bharti Airtel’s surging valuation — its shares have quadrupled since 2019, driven by stronger earnings and rising average revenue per user.

Investors reacted positively to the move, sending Singtel’s shares up about 3% to S$4.65 by midday trading in Singapore. Bharti Airtel shares, however, fell around 4.5% in Mumbai, with more than 55 million shares changing hands via block deals, according to LSEG data.

The deal underscores Singtel’s strategy to strengthen its balance sheet while maintaining a long-term presence in one of the world’s fastest-growing telecom markets.

FalconX Acquires 21shares to Strengthen Crypto ETF Business Amid Expanding Market

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FalconX, a leading digital assets trading firm, announced on Wednesday that it will acquire crypto investment manager 21shares for an undisclosed amount, marking a major expansion into the exchange-traded funds (ETF) market as cryptocurrency investment vehicles gain momentum globally.

The acquisition comes just weeks after the U.S. Securities and Exchange Commission (SEC) cleared the last hurdles for a wave of new spot cryptocurrency ETFs, extending beyond bitcoin and ether to assets like solana and dogecoin.

Founded in 2018 by Hany Rashwan and Ophelia Snyder, 21shares manages over $11 billion in assets across multiple crypto investment products. The company is known for pioneering exchange-traded products that give traditional investors regulated access to digital assets.

FalconX, which reached an $8 billion valuation in a 2022 funding round, has facilitated more than $2 trillion in trading volume and serves over 2,000 institutional clients worldwide. The firm said it will use 21shares’ ETF experience and brokerage infrastructure to accelerate the development of regulated crypto investment products.

“With the SEC streamlining listing pathways, this sets them up to be both the pit crew and the driver as the market moves beyond only bitcoin and ether wrappers,” said Michael Ashley Schulman, chief investment officer at Running Point Capital Advisors.

Analysts say the deal positions FalconX at the forefront of the next wave of crypto ETFs, which are expected to diversify into multiple tokens as the market matures. However, potential challenges loom, including a possible U.S. government shutdown that could slow ETF approvals, and volatility following renewed U.S.-China trade tensions that recently triggered the crypto sector’s largest selloff ever.

By combining FalconX’s institutional trading reach with 21shares’ ETF management expertise, the merger could create one of the strongest players in the crypto-finance ecosystem, bridging the gap between traditional finance and digital asset innovation.

Bullish Shares Surge on NYSE Debut, Valued at $13.2 Billion

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Cryptocurrency exchange Bullish, backed by Peter Thiel and parent of CoinDesk, saw its NYSE shares more than double in their debut, valuing the company at approximately $13.16 billion. The stock opened at $90 and traded as high as $118, far above its $37 IPO price, highlighting strong investor confidence in the crypto sector. Bullish raised $1.11 billion in the IPO, giving it an initial valuation of $5.4 billion.

The surge comes amid a series of regulatory wins for crypto in the U.S., increased corporate adoption, and growing ETF inflows. Bullish targets institutional clients, aiming for stable, recurring revenue, and is close to obtaining a New York BitLicense to operate under regulatory requirements including KYC, anti-money laundering, and capital standards.

Executives cited institutional demand and a favorable regulatory environment as key drivers, noting that other crypto exchanges such as Gemini and Grayscale have also filed to go public. Bullish CEO Tom Farley, former NYSE president, brings leadership experience that may help secure institutional mandates.