Updates from Asia: Mt Gox Repayment in Bitcoin, India’s Chip Factory Subsidy Fund, Samsung Strike, and Asian Fast Payment Scheme Linkages

Mt Gox, the infamous Japanese crypto exchange that went bankrupt in the early 2010s after losing nearly half a billion dollars worth of digital currency, is making a surprising comeback. The failed exchange has announced that it will start repaying some investors in Bitcoin, despite its tumultuous past.

Last week, Mt Gox issued a notice to creditors stating that it would repay some Bitcoin and Bitcoin Cash to investors. The Bitcoin that Mt Gox lost track of is now valued at over $50 billion, potentially allowing some investors to recoup their losses and even make a profit.

However, the payouts could have a significant impact on the price of Bitcoin, as more of the cryptocurrency will be put into circulation. This unexpected turn of events has left many in the crypto community scratching their heads.

In other news, India is set to increase its subsidy fund for semiconductor manufacturing in an effort to attract more chipmakers to the country. The $9.1 billion allocated for the “India semiconductor mission” has already been mostly committed, prompting officials to seek additional funds to continue the initiative.

Meanwhile, Samsung workers in Asia are gearing up for a three-day general strike to protest working conditions and pay. The strike follows a previous protest in June that failed to bring about any changes, with the Samsung Electronics National Labor Union accusing the company of attempting to disrupt the strike.

Additionally, central banks in several Asian nations, including India, Malaysia, the Philippines, Singapore, and Thailand, have agreed to link their instant payment services. The collaboration, known as Project Nexus, aims to standardize the connection between domestic instant payment schemes, making cross-border transactions more seamless.

Lastly, a roundup of recent deals and acquisitions in the Asia-Pacific region includes Hitachi Construction Machinery moving its VMware implementation to Oracle Cloud, Motorola Solutions acquiring Australia-based Noggin, and the launch of a new data center campus in Malaysia by PDG. Cisco has also signed a partnership with Singapore’s Home Team Science and Technology Agency to collaborate on 5G and AI technologies for public safety and security.

Overall, the Asian tech and finance sectors are buzzing with activity, from the resurgence of Mt Gox to the push for semiconductor manufacturing in India and the upcoming Samsung strike. Stay tuned for more updates on these developing stories.