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The first suit, filed in October, charged Genesis and its former CEO Soichiro Moro, its parent company, DCG, and DCG’s CEO Barry Silbert with defrauding investors and the public by trying to conceal more than $1.1 billion in losses, which were borne by investors. The suit has been amended after more DCG investors came forward claiming they had been misled about the safety of their investments, says AG James. “After months of false promises, we pulled the curtain back and revealed that DCG was lying to investors and defrauding them out of billions,” says Attorney General James. “The fraud and deceit were so expansive that many additional people have come forward to report similar harm.” The suit relates to a failed partnership between Gemini and DCG unit Genesis on the former's Earn interest-bearing product.

(Updated — February 9, 2024 11:23 AM EST)

India will become the number one automobile manufacturing hub in the world by 2029 and the country will be the third largest economy, road transport and highways minister Nitin Gadkari said on Friday. The government's focus going forward will be to build a world-class road network, move to alternative fuels and bring down logistics costs in the country, Gadkari added. «One thing is very clear: if we need capital investment, development and industry, we should have good infrastructure, water, power, transport and communication,» he said. «Without that, we cannot develop our agriculture, service industry and tourism.»

General Motors has hired a former Tesla executive, Kurt Kelty, to serve in the newly created role of vice president of batteries as the automaker continues to work on its electric vehicle strategy

Bitcoin advanced past $46,000 to a one-month high, supported by signs of steady inflows into a batch of US funds for the token as well as growing attention on the so-called halving due in April.

parliamentary standing committee on communications and information technology said it will engage in constructive discussions with the information and broadcasting ministry on the proposed Broadcasting Services Regulation Bill, 2023, which has created a furore in the TV broadcasting and over-the-top (OTT) segments. In its 56th report titled 'Regulation of Cable Television in India', the committee, headed by Shiv Sena MP Prataprao Jadhav, also asked the ministry to apprise it about the timeline when the ministry would introduce the draft Bill in Parliament. «The committee would further like to engage in constructive discussions regarding the proposed draft legislation at a more mature stage of its formulation,» the report said. The Bill, which seeks to replace the Cable Television Networks Regulation Act, 1995, aims to bring TV, OTT, radio, cable, DTH, IPTV and HITS under a common regulatory framework. It was released for public consultation on November 10, 2023, and the last date for furnishing comments was January 15 this year.

Aditya Birla Sun Life Digital India Fund has generated more than Rs 3 crore with a monthly Systematic Investment Plan (SIP) of Rs 10,000 in the last 23 years. That implies a compounded annual growth rate (CAGR) of 17% during the same time, according to Aditya Birla Sun Life AMC Ltd (ABSLAMC), a subsidiary of Aditya Birla Capital Ltd and investment manager for Aditya Birla Sun Life Mutual Fund.

Haryana chief minister Manohar Lal said that a lot of work has been done by his administration in the state for bringing transparency and ending corruption, especially in government recruitment. «We have tackled corruption strongly, especially in government appointments. Appointments and transfers postings were an industry when we came to the government. We worked and corrected that,» he said on Friday. «That said, we have to work hard and will try to take Haryana towards Ram Rajya.» Referring to the white paper on 10 years of the UPA government, the Haryana CM said even his government got corruption and scam in legacy. His government's priority is to end three Cs — crime, caste and corruption, Manohar Lal said.

government is mulling to come with a framework to prevent exploitation of content creators by big platforms on internet, minister of state for electronics and IT Rajeev Chandrasekhar said on Friday. The minister said that big powerful commercial platforms online have started to distort fundamental characteristic of openness of the internet. «I think to maintain the openness, the symmetry between those who create the content and those who distribute the content, there is a need for some sort of conversation or discussion.

A multinational firm in Hong Kong is out 200 million Hong Kong dollars (around $34.5 million Canadian) after a financial worker at the company was targeted by scammers using artificial intelligence, culminating in a phony video conference call with numerous deepfake colleagues.

In the ever-evolving world of digital currencies, a new token priced at a mere $0.01 is rapidly becoming the center of attention, drawing parallels with the explosive growth of Solana (SOL). This fresh entrant in the crypto market, boasting groundbreaking technology and an ambitious vision, is quickly becoming a focal point for investors seeking the next lucrative venture. With its affordable entry point and promising growth potential, this token is sparking discussions about its ability to replicate Solana’s remarkable journey. This piece delves into the core attributes, market prospects, and compelling reasons that position this new cryptocurrency as a candidate for achieving a trajectory similar to Solana, offering early investors a chance to be at the forefront of the next big crypto wave.

The South Korean game maker WeMade crypto project suffered a blow on February 8 as regulators launched a probe into suspected “unregistered” sales on WEMIX platforms.

By providing early payment options and improving financial stability for suppliers, DBS Bank’s SPS solution reduces the risk of disruptions, resulting in a more stable and resilient supply chain for clients. Furthermore, it promotes supplier inclusion, empowering the bank's clients to expand their supply chains and diversify their sourcing options.

Financial landscape is rapidly changing, and many companies are adapting these changes based on the technology and the local and international regulations with regard to their respective businesses. Often one regulatory decision creates panic. The recent troubles faced by Paytm, one of India’s leading digital wallets, have sent shockwaves through the fintech industry and raised concerns among consumers. While the clarity is still needed with regard to the RBI regulations, it’s crucial for users to be aware.

U.S. Treasury Secretary Janet Yellen has expressed the need for increased authority within the Treasury Department to address the alleged utilization of crypto by terrorist groups.

Sui (SUI) is one of the best altcoins to invest in right now, as it recently surpassed a major milestone when tokens set a new high at $1.65. That takes its price growth in the past month to 88%, with its total locked value increasing by 98%. Sui’s ecosystem aims to make digital asset ownership accessible to all, and it supports a wide range of decentralized applications. Some analysts are calling SUI’s recent surge a sign of more growth to come.

As Bitcoin (BTC/USD) ascends to the 10th spot among the world’s most valuable assets, its current trajectory highlights a significant moment in the evolution of digital currencies.

The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) in its February review meeting unanimously decided to keep the policy repo rate unchanged at 6.5 per cent, thus maintaining the status quo for the sixth straight time.  RBI Governor Shaktikanta Das announced that the central bank will issue guidelines for a principle-based framework for authentication of digital payment transactions.

Also Read | Key Fact Statement (KFS) now mandatory: New RBI measure enhances transparency in lending for retail and MSME borrowers In its statement on Developmental and Regulatory Policies, the RBI emphasised that currently, the KFS is specifically mandated for loans by scheduled commercial banks to individual borrowers, digital lending by regulated entities, and microfinance loans. Also Read | RBI Policy: Governor Das unlikely to precede Fed in policy reversal; expect rate cut only in H2, say Economists "The Reserve Bank has announced several measures in the recent past to foster greater transparency and disclosure by the regulated entities (REs) in pricing of loans and other charges levied on the customers.

SGB's new tranche opens next week: Sovereign Gold Bond Series 2023-24 Series IV will open for subscription next week. SGB Scheme 2023-24 Series 4' will be open from 12 Feb'24 to 16 Feb'24 for 5 days. Investing in SGB is a safe way to invest in gold instruments that are backed by the government.

Question: Can you elaborate on the taxation of ESOPs?