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Bitcoin’s record-breaking rally appears to be creating around 1,500 new “millionaire wallets” daily, according to crypto analytics firm Kaiko Research. The wallets are digital addresses on the Bitcoin blockchain, in which users can store cryptocurrency. Data such as the number of tokens a wallet holds is accessible since the network is public and not controlled by any centralized intermediaries. However, the addresses are anonymous, making it hard to distinguish whether they’re controlled by individuals or entities.

Mumbai: Fresh capital in hand after a change in ownership, Sammaan Capital, the erstwhile Indiabulls Housing Finance, is looking beyond mortgages to diversify its loan book and build a multi-product non-bank entity, according to managing director and chief executive officer Gagan Banga.“This is growth capital, we have clearly charted out a very detailed business plan, where we are trying to make it a customer-centric franchise, targeting 5 crore borrowers in the next three years and making this from a mortgage-focused to a multi-product NBFC,” Banga told Mint. He expects the company's assets under management (AUM) to double in three years to around ₹1.3 trillion.Abu Dhabi-based IHC has infused ₹5,652 crore for a 41.5% stake in Sammaan Capital, through its affiliate Avenir Investment RSC.

Subscribe to enjoy similar stories. The government may infuse fresh capital into its loss-making general insurers in the next financial year to strengthen their operations and help them meet regulatory requirements, two people aware of the plans said. The Union budget may allocate additional capital for these insurers after reassessing their quarterly parameters in the nine-month period ending December 2024, the people said on the condition of anonymity.

Banking giant JP Morgan projects a huge inflow into spot Bitcoin ETFs from other cryptocurrency-related products even without new capital from the wider financial market.

₹1.44 ­lakh crore in calendar year 2023, led by 57 mainboard initial public offerings (IPOs) that collectively injected ₹49,434 crore into markets, and 45 qualified institutional placements (QIPs) that raised ₹54,350 crore, reported Business Line quotingprimedatabase.com. The mop­up from QIP is 363 per cent higher than the ₹11,743 crore raised in 2022. QIPs were dominated by financial services and engineering companies, with Bajaj Finance raising ₹8,800 crore, accounting for 16 per cent of the total amount.

The troubled crypto trading firm Genesis is reportedly struggling to raise fresh funds for its lending unit - and may be headed into bankruptcy. 

Major crypto exchange FTX, which has positioned itself as the industry's savior, is reportedly looking to raise fresh capital at its January USD 32bn valuation.