BUSINESS
In-Depth| Reining in the Crypto-verse: A deep dive into how cryptocurrencies are being regulated across the world
Numbers worldwide suggest that despite this, cryptocurrency adoption is exponentially surging. Venture capital funds across the world invested a cumulative of $30 billion in this space in 2021, a figure more than the total of all investments made over the last few years
BUSINESS
Elon Musk offloads 10% stake in Tesla, says he's 'almost done' selling the stock
Musk has tweeted earlier this month that he will pay more than $11 billion in taxes after many senior lawmakers like Senator Elizabeth Warren called him a "freeloader", alleging that billionaires like him are avoiding tax payments.
BUSINESS
UST by Terra overtakes DAI, becomes the fourth largest stablecoin by market capitalization
UST and DAI are decentralized stablecoins, backed by other cryptocurrencies. Since the highly volatile cryptos form the basal asset, it is hard to keep these stablecoins pegged stably to the dollar.
BUSINESS
Vodafone to auction its first-ever text message 'Merry Christmas' for about $2,00,000
The exclusivity of the NFT can be gauged from the fact that Vodafone has publically assured that in the future, it will not issue or mint any other NFT in the realm of the world's first SMS.
BUSINESS
Apple to start iPhone 13 production in India from February 2022
Notably, relatively lower-priced models of iPhone, namely iPhone 11 and 12 account for maximum sales in India. Apple manufactures 70 percent of all smartphones it sells within the country.
BUSINESS
Revenue from crypto scams surges 81 percent in 2021, "rug pulls" make for most of it
However, the lion's share of this $7.7 billion, almost 37 percent to stand at $2.8 billion belonged to "rug pulls" scams taking place in the Defi ecosystem.
BUSINESS
Bajaj Allianz General Insurance offers 'Health Prime' wellness rider
Notably, the rider is available only for existing Bajaj Allianz policyholders who hold health insurance and personal accident policies, given that it is not a standalone product and only an addition to the base policy. Accordingly, the entry age for the rider will be determined per the base policy opted by the insurer.
BUSINESS
Melania Trump's NFT collection to help children in foster care
The debut NFT, titled "Melania's Vision", is a watercolour created by French artist Marc-Antoine Coulon. The digital artwork, which will be available for sale by the end of this year, will be priced at 1 SOL, or approximately $150.
BUSINESS
Cryptocurrency bill not on today's cabinet meeting agenda
The much-awaited bill also doesn't find a mention on Parliament's agenda for the week. The winter session ends December 23
BUSINESS
Tether in hot soup again, faces second class-action lawsuit this year
The company has claimed that it is '100 percent backed by reserves, which include traditional currency and cash equivalents and, from time to time, may include other assets and receivables'
BUSINESS
Fat-finger fault! A popular NFT Bored Ape sells for 1/100th of its market value
Lack of concentration led to a very expensive mistake on the part of a seller namely Maxnut, who had intended to list Bored Ape number 3,547 for 75 ETH on NFT platform Opensea, which translates to almost $3,00,000.
BUSINESS
Ninety percent of Bitcoin has been mined, but it will still last another 120 years. Here’s why
While it may seem that the world’s most popular cryptocurrency is close to being exhausted, estimates indicate that the remaining 10 percent will last until February 2140.
BUSINESS
Blockchain tech startup ASQI raises $1 million in pre-series A funding
Founded in July 2019, the company is pioneering the building of a public blockchain, namely Newrl, which is a platform for asset tokenisation and lending fuelled by smart contracts.
BUSINESS
Myanmar's NUG announces adoption of USDT as official currency
Tether has, for long, been mired in various controversies, owning to the ambiguity that surrounds its digital currency-backing reserves of the dollar. It is essentially considered as a reserve for a particular asset, which in turn, are held as collateral. Simply put, for every 1 USDT, the company will have to compulsorily have $1 in their reserve.
BUSINESS
Binance scraps plan for cryptocurrency exchange in Singapore
Founded by Chinese-Canadian entrepreneur Changpeng Zhao, the exchange cited "global strategic, commercial and developmental considerations" for its decision.
BUSINESS
Government mulls over giving deadline to declare crypto assets: Report
As per a recent cabinet note, the term 'crypto assets' will be put in place instead of cryptocurrencies, along with a clear distinguishment of the same from the digital currency plans (CBDC) that the government and RBI intend to pilot early next year.
BUSINESS
Uber to allow users to book rides through WhatsApp in India
The service being launched this week will be available in Lucknow and then expanded to other cities, Uber has said
BUSINESS
CAIT slams transfer of SP investigating 'marijuana sale' on Amazon, threatens stir
CAIT has accused the MP government of bowing to pressure from Amazon in transferring Superintendent of Police Manoj Kumar Singh
BUSINESS
Third tranche of Bharat Bond ETF to be launched on December 3; here're the details
With a defined maturity date and the provision to buy/sell your units on NSE, the ETF allows you to partake in the growth story of India's public sector by investing in the bonds of these companies, provided you have a demat account.
BUSINESS
LazyPay launches BNPL EMI facility, integrates with PayU payments gateway
LazyPay EMI has been launched as a response to bridge the prevailing credit gap in the Indian market, along with serving the evolving credit needs of the data-rich and digitally active consumers, which are not being addressed by traditional financial institutions, the company said.
BUSINESS
Thailand bets on crypto millionaires to revive COVID-battered tourism industry
The Tourism Authority of Thailand is aiming to create an easy route for the crypto elites to transact in this asset class in the country, which has already lost revenue close to $80 billion during the pandemic.
BUSINESS
Kazakhstan faces massive power outages, crypto mining to blame
The country, which is currently importing electricity from Russia at a higher tariff to meet the requisite demands, also saw three of its major power plants undergo an emergency shutdown in October.
BUSINESS
SEBI Chairman Ajay Tyagi on insider trading, mutual funds and first-time investors
"Insider trading goes against the very basics of trust in the securities market. With all these millions of new investors entering the market, this trust of investors needs to be maintained."
BUSINESS
"The answer is 100% yes", says Vijay Shekhar Sharma on entering the crypto space
Per media reports, the Bill will also have a provision to exit their holdings of private cryptocurrency holdings within a stipulated period. While some in the market are speculating that an outright, blanket ban is unlikely and advocating for a more regulated approach, classifying cryptocurrency in the same category as other assets like gold, bonds, etc.
