Digital Financial News

Bankman-Fried began his formal testimony in front of the jury shortly before 10 a.m. this morning in his landmark fraud case.

Bitcoin price prediction has become the talk of the crypto community as BTC recently retraced to a crucial $34,000 support level. Amidst an array of fundamental changes in the cryptocurrency landscape, from the U.S. SEC’s ongoing review of Bitcoin ETP proposals to the U.K.’s stringent crypto regulations, the leading digital currency showcases its resilience.

The Federal Trade Commission (FTC) on October 12, 2023, disclosed a settlement with the beleaguered cryptocurrency firm, Voyager Digital, post allegations of misleading consumers regarding the safety of their deposits. The settlement emerges amid a broader crackdown on deceptive practices in the rapidly evolving crypto sector.

In a recent recap, OKX Ventures sheds light on its proactive steps toward fortifying the crypto ecosystem through strategic investments in innovative projects like Aark Digital, dappOS, and 0xScope, amidst a burgeoning crypto industry.

On October 12, 2023, a significant regulatory maneuver unfolded as the Commodity Futures Trading Commission (CFTC) filed a complaint in the U.S. District Court for the Southern District of New York against Stephen Ehrlich, the former CEO of the now-bankrupt Voyager Digital entities. Ehrlich is charged with fraud and registration violations concerning the digital asset platform's operation of an unregistered commodity pool between February and July 2022.

By Kylie Madry

Sensorise, a machine-to-machine service producer on Friday announced consumer travel eSIM for consumers, targeted at corporate travellers, leisure travellers, and students, offering a cost-competitive alternative to traditional telecom international roaming solutions. The company said the eSIM will be available across 190 countries through the Sensorise mobile app. «This innovation represents a significant leap forward in global travel connectivity for Indians. The eSIM solution is not only a testament to our technical solutions, but also a reflection of our commitment to creating solutions that simplify and enhance the lives of individuals.

By Elvira Pollina

The firm performed a ground-breaking ceremony for its outsourced semiconductor assembly and testing (OSAT) facility near Hyderabad on Tuesday.

Michael Reynolds, principal at Elevation Financial, is an entrepreneur at heart, having built and sold multiple businesses over two decades, including a digital marketing agency.  

₹68,937 crore in Q2FY24, a growth of 19.5% over Q2FY23 revenue of ₹57,694 crore. During the quarter, the company achieved an EBITDA of ₹5,820 crore, marking a 32.2% improvement over the previous year's EBITDA of ₹4,404 crore and a 13.25% surge compared to the Q1 FY24 figure of ₹5,139 crore. The EBITDA margin also expanded to 8.4%, showing an 80-basis point increase from the EBITDA margin of 7.6% in Q2 FY23.

Reliance Industries (RIL), India's largest company by market capitalisation, on Friday (October 27) reported a 29.7 per cent year-on-year rise in its September quarter consolidated net profit at ₹19,878 crore. EBITDA, too, saw a healthy 30.2 per cent YoY rise to ₹44,867 crore while the EBITDA margin jumped 390 bps YoY to 17.5 per cent. Gross revenue, however, inched up marginally by 1.2 per cent YoY to ₹2,55,996 crore, supported by consumer businesses.

Cricket World Cup has clocked. As per BARC data provided by Disney Star on Friday, the live broadcast for the first 18 tournament matches has clocked up 123.8 billion viewing minutes. This is a 43 per cent growth compared to the previous edition in England and Wales in 2019, the company said. Further, the marquee tournament which began on October 5, recorded 364.2 million viewers tuning in to the live broadcast of the first 18 matches.

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Axis Bank is working on augmenting small-ticket loans, crop loans to small and marginal farmers and microfinance business loans for women borrowers from low-income households during the year, managing director and CEO Amitabh Chaudhry said on Friday. The bank has created a distinctive 'Bharat Bank' unit with tailored rural products, an increased footprint through branches and a digital presence, partnerships with facilitators like Common Services Centers (CSCs), and village-level entrepreneurs enabled by multiple agri-commodity-focused ecosystems, he said.

Hexaware Technologies, owned by global private equity firm The Carlyle Group, has appointed former Infosys and Tredence executive Girish Pai as the global head of its data and AI service line. “Hexaware expects to make rapid strides toward data and AI leadership. His leadership promises to unlock new horizons and drive innovation in the ever-evolving landscape of technology solutions,” the Mumbai-headquartered information technology (IT) services firm said in a statement.

Doge Uprising ($DUP) is a presale coin with a vibrant universe and immersive ecosystem for users to enjoy. 2023 has been the year of meme coins, with Pepe Coin soaring into the top 100 and many new tokens raising millions of dollars within their first few months of presale. Doge Uprising is bringing defiance back to crypto and looking to establish itself as a top coin with real utility, an extensive road map, a series of unique NFTs, smart staking and an original manga.

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Crypto mining company Marathon Digital has unveiled plans to raise as much as $750 million through a hybrid equity offering.

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Naveen Kulkarni, CIO, Axis Securities, says “we will have to wait and watch what exactly the auto companies report in terms of their overall numbers. But as far as Maruti is concerned, we were expecting a good set of numbers but these numbers definitely look better than what we were anticipating.” We were expecting good numbers from Maruti on the back of a richer product mix, volume push and so on but is 13% margin something that you were working with? Were you expecting a similar number on that front? No. We were definitely expecting a margin which was lower than what they have reported. Of course, we will have to look at whether there are any one-offs or if there is any deferment of marketing expenses and things like that but 13% EBITDA margin is definitely above our expectations. But do you see a similar situation for the rest of the auto OEMs because we will watch out for more management commentary from Maruti Suzuki, especially how they are looking at demand but do you believe Tata Motors and M&M can also see such performance going ahead? Again, it will vary from one company to another company. M&M has a completely different mix of products. M&M, of course, has a very large tractor portfolio and farm equipment portfolio, so that has a meaningful impact on revenues.