advent

According to Bloomberg, citing informed sources, a consortium formed by private equity firm Advent and payment processor Stripe has decided to abandon its acquisition of fintech pioneer PayPal Holdings Inc. This potential deal could have become one of the largest leveraged buyouts in history.Informed sources said that the group is no longer pursuing the acquisition of PayPal. Previously, insiders had indicated that the consortium had made an offer of over $50 billion. Relevant individuals requested anonymity as the information has not been made public.

According to a report by Reuters, informed sources revealed that the PayPal board believes the $53 billion acquisition offer from competitor Stripe and Advent International undervalues the company and faces regulatory and financing hurdles. The sources stated that PayPal has not formally responded yet, and the board is evaluating the trade-offs between the offer and the management's strategy to turn around the company, initially considering that the offer of $60.5 per share, while a premium over recent stock prices, does not fully reflect the company's future potential.The acquirers have secured approximately $50 billion in financing commitments from JPMorgan and Morgan Stanley, along with $17 billion in equity raised by Stripe and Advent, to support the $53 billion acquisition offer. If antitrust regulations are violated, the acquirers have considered remedies such as divesting the Braintree business to Advent. Block was initially involved but withdrew before the latest offer submission. Investors will be paying attention to PayPal's earnings report on July 28.

According to a report by Reuters, payment company Stripe, in conjunction with private equity firm Advent International, has made a takeover offer to PayPal Holdings (PYPL.O), offering $60.5 per share, with a total valuation of over $53 billion, representing a premium of about 28% over PayPal's closing price on Tuesday. The offer has received approximately $50 billion in bank commitment financing support, with both parties intending to hold 50% equity each, without splitting the company.The acquisition proposal was submitted earlier this month, following preliminary contact between the two parties in early April. No response has yet been received from PayPal, and Stripe and Advent hope to reach an agreement by the end of the month. There remains uncertainty as to whether the deal will ultimately be finalized.

ChainCatcher message, according to the Web3 asset data platform RootData X tracking data, in the past 7 days, the open-world RPG adventure game Illuvium has been the project with the most unfollows by top figures on X (Twitter). The new influential figures on X who unfollowed this project include on-chain data analyst Ember (@EmberCN).

ChainCatcher news, according to official information, the OKX Web3 wallet has jointly launched a month-long Sonic Adventure event with Sonic (SVM). Users can participate in various activities to earn more Rings and unlock eligibility for upcoming airdrops.It is reported that Sonic (SVM) is the first gaming chain project on the Solana blockchain, providing a blockchain platform specifically for game development and operation by leveraging Solana's advantages of high speed and low-cost transactions. The OKX Web3 wallet is an industry-leading one-stop Web3 gateway, now supporting over 100 popular public chains, unified across app, plugin, and web platforms.

ChainCatcher message: According to on-chain and Twitter news, the first GameFi project in the Ethscriptions ecosystem, Uncharted Lands X, successfully completed its IDO today, raising 150 ETH in just 3 hours.Uncharted Lands X is an on-chain adventure game similar to the Age of Discovery, with a development team consisting of members from Europe and Asia, several of whom have previously worked at NetEase and Perfect World. The previously released 10,000 NFTs sold out in 3 hours and have collaborated with multiple top exchanges for events.It is reported that Uncharted Lands X plans to launch a closed beta version soon, and IDO token holders and NFT owners will have priority to participate in the closed beta.

ChainCatcher message, initiated by GoPlus Security in collaboration with multiple partners, is currently conducting a series of security education activities for users titled "GoPlus Jungle Adventure." Following the successful collaboration with SafePal in the first phase, the jungle adventure has launched TokenPocket Zone, officially meeting users on August 10.As the initiator of this Odyssey event, GoPlus Security aims to help its partners educate users on security within their ecosystem and build a secure image for partners among Web3 users. In this event, participants need to link their TokenPocket wallet and use the GoPlus one-click inspection tool to conduct a comprehensive check of the assets and authorization status under their wallet address. After completing a series of subsequent social tasks and verifications, users can receive a woodpecker OAT, symbolizing a security guardian.GoPlus Security is the first in the industry to propose the concept of "User Security," focusing on providing user-side security data. In the foreseeable future, GoPlusEco (ecological market) will integrate high-quality security services and tools globally based on its strong security data infrastructure, providing a comprehensive security solution for Web3 users.

ChainCatcher news, Adventure Gold (AGLD) announced that the crypto market maker DWF Labs has committed to supporting the AGLD ecosystem, with the upcoming launch of the Loot chain, and has pledged to purchase millions of dollars worth of AGLD Tokens. (Source link)