File photo: Byju Raveendran (Picture credit: IANS) BENGALURU: The Delaware Bankruptcy Court has entered a default judgment of more than $1.07 billion against Byju Raveendran, after finding that the edtech founder repeatedly failed to comply with court-ordered discovery in the Byju’s Alpha adversary proceeding. A default judgment is a ruling issued when a party does…
Earlier this year, at Hong Kong’s Bitcoin Asia, there was a growing sense of frustration with Digital Asset Treasury (DAT) companies and their lagging performance against the asset they fill their coffers with. “Just buy an ETF,” is how Strive Asset Management CEO Matt Cole put it on stage during a panel at the conference….
MUMBAI: Fraud and waste continue to drag India’s health-insurance system, with Rs 8,000–10,000 crore leaking from claim payouts each year, says a Boston Consulting Group–Medi Assist report. Fraud and unnecessary claims inflate premiums, strain insurer finances and drain public funds. Weak data systems and loose checks also push patients into higher out-of-pocket spends.The analysis shows…
Check out the companies making headlines before the bell. Bitcoin stocks — Stocks linked to the world’s oldest cryptocurrency were in the red as bitcoin plunged closer to $80,000 as investors fled risk assets. Digital asset mining companies American Bitcoin and Riot Platforms fell 2.4%, while Bitcoin treasury Strategy shed 2%. Galaxy Digital was down…
The Reserve Bank of India (RBI) on Friday said the process of interlinking the Unified Payments Interface (UPI) with the Eurosystem’s TARGET Instant Payment Settlement (TIPS) platform has entered the realisation phase, marking a step towards enabling cross-border instant payments between India and Europe. RBI and NPCI International Payments Limited (NIPL) have been in discussions…
BitMine Immersion (BMNR), the largest Ethereum-focused digital asset treasury (DAT) firm and helmed by Wall Street veteran Thomas Lee, is sitting on steep unrealized losses on its big bet on ether ETH$2,740.04. The firm reported Friday $328 million in net income for its fiscal year ended August 31, while fully diluted earnings per share came…
NEW DELHI: In one of the biggest reform initiatives, the Centre on Friday announced the implementation of the four labour codes, enacted five years ago, to replace 29 laws. The rollout, which will require notification of rules, comes within a week of a resounding electoral mandate in Bihar for the governing NDA after similar successes…
Omar Marques | Lightrocket | Getty Images Robinhood shares are heading for a brutal weekly loss as the once-red-hot trades in bitcoin and AI stocks that powered its growth lose momentum. The popular brokerage platform slipped more than 3% Friday, extending a punishing decline. The stock tumbled 10.1% in the prior session and is now…
US stocks recovered on Friday after a volatile week, with major indices rising on renewed expectations of a December interest-rate cut amid sharp swings in artificial intelligence-linked and cryptocurrency assets.The S&P 500 climbed 1.2% in early trade, while the Dow Jones Industrial Average gained 709 points, or 1.6%. The Nasdaq composite rose 1% after fluctuating…
Grayscale’s two new crypto exchange-traded funds (ETFs) will go live on NYSE Arca on Monday, offering U.S. investors simplified access to DOGE$0.1400 and XRP for the first time through regulated public markets. The Grayscale Dogecoin Trust ETF (GDOG) and Grayscale XRP Trust ETF (GXRP) are each structured as spot ETPs that hold their respective underlying…
