Digital Financial News

Crypto lender Genesis Global received court approval on Friday to return about $3 billion in cash and cryptocurrency to its customers in a bankruptcy liquidation, leaving its owner, Digital Currency Group (DCG), with no recovery from the bankruptcy. US Bankruptcy Judge Sean Lane approved Genesis' Chapter 11 liquidation plan and overruled an objection raised by DCG, which had argued that Genesis should pay its customers and creditors no more than what the crypto assets were valued at in January 2023, when Genesis filed for bankruptcy.

A new survey by Deloitte sheds light on the contrasting views between current and next-generation members of family businesses in the US, particularly regarding succession planning and risk management.

Oklahoma passed a bill on May 13 to protect the rights of its residents to self-custody their digital assets.

ONDC (open network for digital commerce) has started getting traction in the e-commerce sector and so far five lakh sellers have been onboarded on the platform, a senior official said on Friday. Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh said the ONDC was set up primarily to democratise and make digital commerce accessible to smaller players. «It has started getting traction in the last two years. Five lakh sellers have on-boarded of which 70 per cent are small and medium sellers. In April, ONDC facilitated 7.22 million transactions,» Singh told reporters here. The ONDC aims to promote an open platform for all aspects of e-commerce retail. It would help small retailers expand their business through e-commerce medium and reduce dominance of giants in the sector.

ministry of skills development and entrepreneurship has proposed blending of digital content into classroom learning using digital tools and resources as part of its trainer development strategy for skilling, developed by the Future Right Skills Network (FRSN). “To cater to the vision of a Viksit Bharat 2047, the ministry has laid out a roadmap where trainers from short-term and long-term skilling ecosystems will be equipped with the right skills and technology to help learners participate in the future market,” MSDE said in a statement issued on Friday. Besides, it has laid out a blueprint to improve the efficiency of existing trainers through recognition, performance evaluation, motivation, and up-skilling.

The ONDC (Open Network for Digital Commerce) platform by the government now has more than 5 lakh sellers, of which over 70 per cent are small or medium-sized sellers, said the Commerce Ministry in a statement. ONDC on Friday organised Startup Mahotsav to encourage India’s growing startups to join the platform. The ministry informed that in April 2024, ONDC facilitated around 7.22 million transactions.

The Society for Worldwide Interbank Financial Telecommunication (SWIFT) China President recently shared insights on the challenges and solutions for cross-border central bank digital currency (CBDC) interoperability.

The Depository Trust and Clearing Corporation (DTCC), the largest settlement system in the world, has partnered with blockchain oracle Chainlink to conclude a pilot program involving several major banking firms in the United States.

JEE Advanced 2024 admit card: The Indian Institute of Technology Madras (IIT Madras) has unveiled the admit cards for the Joint Entrance Examination (JEE) Advanced 2024 today, May 17th. This release marks a significant milestone for thousands of aspiring candidates who have been diligently preparing for this pivotal exam. The JEE Advanced exam, slated for May 26th, stands as a pivotal gateway for students vying for coveted spots in prestigious Indian Institutes of Technology (IITs) and other esteemed engineering institutions across the nation. JEE Advanced 2024 Admit Card Candidates can now retrieve their admit cards as per an official notice posted on the website. A direct link for downloading the admit card has been dispatched to candidates' registered email addresses. Furthermore, a portal dedicated to downloading the admit card will soon be accessible on the official JEE Advanced website.

microblogging site Twitter's name would be rebranded to 'X', all core systems of the company have now been moved to x.com, its head Elon Musk said on Friday. Gone are the days when people referred to the short messages on the microblogging platform as tweets, with a blue and white bird logo. Inputs by users on the website are now called 'posts' and the logo is a simple white X against a black background.

A customer sued Dolce & Gabbana USA on Thursday, claiming the NFTs they purchased lost 97% in value due to the company’s bungled delivery.

Oklahoma Governor Kevin Stitt delivered a major win to digital asset supporters Monday with the enactment of a new Bitcoin rights bill (a.k.a HB3594) focused on preserving fundamental crypto rights amidst the U.S. government’s crackdown on self-custody wallets.

Mastercard announced the selection of five startups to participate in its Start Path blockchain and digital assets program on Wednesday to foster innovation in blockchain technology and digital asset utilization.

The U.S. Senate voted on Thursday to formally disapprove the Securities and Exchange Commission’s (SEC) controversial staff accounting bulletin SAB121, which will now go to President Joe Biden’s desk.

Cetera Financial is beefing up investment in its advisory business with a raft of key appointments.

A couple from Nova Scotia say they’re permanently throwing in the towel on housework after waking up $5-million richer on Sunday morning.

Visa has announced major changes to how its credit and debit cards will operate in the U.S. Features in the works will lead to Americans to carry fewer physical cards in their wallets and make the 16-digit credit or debit card number printed on every p...

The European Union opened fresh investigations into Facebook and Instagram over suspicions that they’re failing to protect children online, in violation of the bloc’s strict digital regulations for social media platforms

Arvind Kejriwal's aide for the assault, here are some of the top stories of May 16. Vineet Nayyar, the former vice-chairman of Tech Mahindra, passed away on Thursday, at 85. From starting off as a district magistrate to overseeing the turnaround of an Indian IT giant marred by scandals, Nayyar wore many hats in his lifetime.

Do you want to own a commercial building or an office or a warehouse in cities like Mumbai, Pune, Bengaluru or Delhi? It’s possible and that too at an investment of as low as Rs 1 lakh, which comes to less than Rs 300 a day, through the fractional ownership model.

Former President Donald Trump has been dubbed “America’s first crypto president” ever since his first year in office in 2017, according to Chris Giancarlo, a former CFTC commissioner. This designation came about when his administration approved the introduction of Bitcoin futures contracts, he said.