Pool Financial News

Delhi: Sharing is a way to multiply your happiness, goes the saying. Kruthika Rao and Venkat Amudhan, residents of Bengaluru, have been doing that for eight years now. Yet, they do not share a bank account and do not want to do so ever.

Lido Finance, a decentralized liquid staking protocol, has decided to cease its operations on the Solana blockchain post a unanimous community verdict. This decision came into light on October 16, 2023, after an extensive dialogue and subsequent community voting within the Lido’s decentralized autonomous organization (DAO).

On October 17, 2023, FTX Debtors made a significant announcement regarding their ongoing Chapter 11 cases, marking a major milestone in their efforts to resolve complex customer property disputes. After extensive discussions involving key stakeholders, including the Ad Hoc Committee of Non-US Customers, the Unsecured Creditors Committee, and class action plaintiffs, FTX Debtors have reached a proposed settlement.

(This Oct. 27 story has been corrected to change the name of the Daimler (OTC:MBGAF) Truck works council head to Matthias Brecht, not Matthias Krust, in paragraph 23)

₹1.4 trillion, ratings agency Crisil said on Monday. This anticipated growth is attributed to increasing composition of hybrid annuity model (HAM) projects within InvITs. The stability of cash flow from a growing number of HAM projects will counteract any slight uptick in leverage, thereby maintaining robust credit profiles.

You wouldn’t necessarily think that multistrategy hedge fund “pod shops” had much in common with the characters from “Sex and the City”. But Millennium’s Izzy Englander is lamenting that successful portfolio managers are like New York men over the age of 30 — all the good ones have been taken.

NEW DELHI : The National Highways Infra Trust (NHIT), the investment trust sponsored by the National Highways Authority of India, plans to raise as much as ₹9,000 crore after Diwali through a mix of debt and equity, two people familiar with the development said. The infrastructure investment trust’s (InvIT’s) third round of fundraising, involving the monetization of six 250km highway stretches, will be conducted in phases, targeting domestic and global investors. Additionally, a proposed non-convertible debentures (NCD) issue, the size of which would be similar to last year’s ₹1,500 crore, would also be offered to retail investors with assured returns of close to 8%, the people said on the condition of anonymity.

(Corrects Perry was sitting in a pool or jacuzzi, not by, in paragraph 9)

Siddaramaiah on Sunday continued his attack on Prime Minister Narendra Modi accusing the Centre of not releasing grants for 61 centrally sponsored schemes in Karnataka in the past six months since Congress came to power. These schemes fell across 23 departments, the CM said in a series of posts on social media platform X, while questioning the PM if these welfare schemes had become a burden on the Centre. Siddaramaiah suspected the Centre was taking revenge on Karnataka for voting in a Congress regime. The BJP national president JP Nadda had threatened voters during the election campaign that the Centre would stop funds if the BJP was not re-elected, the CM claimed and wondered if the Centre was actually implementing this threat. The delay in release of grants, the CM added, had landed eligible beneficiaries in trouble.

Mumbai to make space for Olympic-size swimming pool and sports complex, reported TOI. Brihanmumbai Municipal Corporation (BMC), India's richest municipality has given time till Monday to raise objections on the said project.

As the holiday season approaches, it’s not just snowflakes and carolers that will be making an appearance. The real estate market, like the rest of the economy, experiences its own set of festive season trends and dynamics. For prospective buyers and sellers, understanding these trends can make all the difference in navigating the real estate market effectively.

Los Angeles Lakers will be playing Sacramento Kings in NBA game on Sunday night. While La Lakers are at the fifth position, Kings are at the 8th place. La Lakers vs Kings NBA game will be played at Golden 1 Center, Sacramento on October 30. The live streaming will be available on NBA League Pass, NBCSCA, Sprectrum SportsNet. Radio coverage will be available on Sactown Sports 1140 AMESPN LA 710/1330 KWKW. Meanwhile, the 2024 NBA All-Star Game is returning to its classic format of Eastern Conference vs Western Conference as well as traditional four-quarter scoring. The game will be played February 18 in Indianapolis. «While the NBA All-Star Game will no longer have an untimed fourth quarter or conclude when one team reaches or surpasses the Final Target Score, the teams will continue to compete to win each quarter for a charitable organization of their choosing,» the league said in its announcement Wednesday. Team captains will be the starters who receive the most fan votes in their respective conference. The league began tinkering with the ASG format in 2018, having captains draft their teams from a pool of 24 players.

The unveiling of an open-source directory dedicated to Uniswap v4 hooks has recently incited discord within the cryptocurrency realm. At the heart of the contention is a newly introduced hook, now accessible on this directory. This hook facilitates the execution of Know Your Customer (KYC) checks on users prior to engaging in token pool trading activities, thereby intertwining regulatory compliance with decentralized operations, a notion often deemed incongruent in the decentralized finance (DeFi) domain.

New Zealand and South Africa will emerge as historical top dog with a record fourth triumph. As South African fans are never slow to remind everybody, the World Cup's statistics are slightly skewed by the absence of the Springboks from the first two, due to their sporting isolation because of Apartheid. That means that should they triumph on Saturday they will have an incredible 50% success rate — four finals from eight tournaments. New Zealand won the inaugural event in 1987 then became the first to win back-to-back titles in 2011 and 2015 — an achievement defending champions South Africa are also desperate to emulate. Their previous final meeting was in 1995, the first World Cup South Africa were allowed into.

Peter Kambolin, the former CEO of a Miami-based investment firm, Systematic Alpha Management LLC (SAM), pleaded guilty on October 11, 2023, to a fraudulent scheme involving cryptocurrency futures contracts, as announced by the United States Department of Justice (DOJ) on October 12. This marks a landmark case as it's the first criminal charge against a Commodities Trading Advisor and Commodities Pool Operator for engaging in a «cherry-picking» scheme concerning cryptocurrency futures contracts.

Uniswap, a leading decentralized crypto exchange, has unveiled a beta version of its mobile wallet for Android devices on October 12, 2023, as announced in a recent blog post. This move follows the successful launch of its iOS mobile app on April 13, 2023. The iOS version swiftly climbed the ranks, becoming a top-three wallet in terms of new downloads within a month. The Android iteration is seen as a strategic extension to cater to a broader user base, offering a simplified and secure on-the-go swapping experience. 

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.

Regen Powertech Pvt Ltd (RPPL) has sought the Supreme Court’s view on whether the bankruptcy courts can direct consolidation of the insolvency proceedings of two companies, whose businesses are allegedly inter-twined and inter related, for speedy recovery of dues. A Bench led by Justice Sanjiv Khanna sought response from the resolution professional and others on an appeal by the SBI-led Committee of Creditors questioning the National Company Law Appellate Tribunal’s (NCLAT) decision directing consolidation of CIRPs of RPPL and its wholly-owned subsidiary Regen Infrastructure and Services Pvt Ltd (RISPL) and also setting aside of the approved resolution plan of RPPL. The CoC argued that the appellate tribunal’s jurisdiction cannot extend into entering upon merits of the business decision made by the CoC in its commercial wisdom, the appeal said, citing the insolvency law committee’s March 26, 2018 report that specifically decided not to address the issue of group companies. The RPPL lenders in April 2021 approved the resolution plan of RPPL by 94.08 voting percentage and its total claim is for Rs 1306.40 crore. The CoC of RPPL had opposed the consolidation while the CoC of RISPL had given a conditional consent for consolidation. Legal experts also say that the issue “requires an authoritative determination” by the SC as this plea of consolidation of insolvency proceedings applying group company doctrine is arising in several cases before the bankruptcy courts. “The IBC is silent on this aspect but the facts in some cases are very compelling where there is siphoning of funds.

Indian startups have shed more than 30,000 jobs. Investors now worry that companies in their portfolio will never make money. Heavy losses by Indian “unicorns" (unlisted companies worth $1bn or more) bear this out.

Alizeh, please note that there are limited Shariah-compliant investment options available in India. Here are some:

Adani Energy Solutions on Friday said it has successfully commissioned the Karur Transmission project, which will facilitate electricity evacuation from Karur/Tiruppur Wind Energy Zone. The project includes the establishment of the 400/230 kV, 1000 MVA Karur Pooling Station and an associated transmission line spanning 8.51 circuit kilometers (CKM) in Tamil Nadu, a company statement said. With a transformation capacity of 1,000 MVA, this project will facilitate the evacuation of power from renewable sources in the Karur/Tiruppur Wind Energy Zone, the statement said.