<ul class="summary-list"><li>The best option for <keyword id="11892747" type="UNKNOWN" weightage="60" keywordseo="india" source="Orion">India</keyword> is to ban private cryptocurrencies, one of the country's top central bankers said Monday.</li><li>Private <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> is worse than Ponzi schemes and pose a threat to financial stability, Rabi Sankar said.</li></ul>India's best choice is to ban private cryptocurrencies because of the risks they pose to the country's financial systems and sovereignty, a top central banker has warned.Rabi Sankar, deputy governor of the <keyword id="11894000" type="UNKNOWN" weightage="60" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword>, took aim at private crypto in a <a href="https://m.rbi.org.in/Scripts/BS_SpeechesView.aspx?Id=1196">speech at a local banking conference</a> on Monday, underlining Indian authorities' tough stance. He said cryptocurrencies can't really be defined as a currency, asset, or commodity, given that they don't have any underlying cash flow or intrinsic value, and that they are like a "Ponzi" scheme or even worse. For these reasons alone, private cryptocurrencies should be kept away from the formal financial system, he said."More substantially, they can (and if allowed most likely will) wreck the currency system, the monetary authority, the banking system, and in general government's ability to control the economy," Sankar said. This adds up to a threat to a country's financial sovereignty, he warned. It becomes vulnerable to manipulation by the private companies that create digital currencies or the governments that control them, according to Sankar."All these factors lead to the conclusion that banning cryptocurrency is perhaps the most advisable choice open to India," he told the conference.Sankar's tough words highlight Indian authorities' efforts to keep a grip on digital currencies in a country with an estimated 15 to 20 million crypto investors. India is second only to Vietnam in crypto adoption, according to the <a href="https://blog.chainalysis.com/reports/2021-global-crypto-adoption-index/">2021 Global Crypto Market Adoption Index</a> from Chainalysis.The government plans to <a href="https://markets.businessinsider.com/news/currencies/india-crypto-blockchain-cbdc-tax-ethereum-bitcoin-digital-assets-finance-2022-2">impose a 30% tax</a> on income from cryptocurrencies and other digital assets such as NFTs, or non-fungible tokens. It also wants to deduct 1% in tax at source on payments related to buying such assets.While<a href="https://www.businessinsider.in/cryptocurrency/news/taxes-gst-and-the-digital-rupee-crypto-policy-in-india-is-going-through-a-big-overhaul/slidelist/89499051.cms#slideid=89499616"> many</a> saw this as a move towards legitimizing crypto,<a href="https://www.businessinsider.in/cryptocurrency/news/taxes-gst-and-the-digital-rupee-crypto-policy-in-india-is-going-through-a-big-overhaul/slidelist/89499051.cms#slideid=89499616"> some</a> were worried the high tax might discourage crypto trading. At the same time, India plans to roll out its own digital currency, nicknamed the "digital <keyword id="6355302" type="UNKNOWN" weightage="60" keywordseo="rupee" source="Orion">rupee</keyword>," suggesting it is the private nature of private cryptocurrencies that is worrying authorities.India plans to introduce its <keyword id="11939356" type="UNKNOWN" weightage="60" keywordseo="central-bank-digital-currency" source="Orion">central bank digital currency</keyword>, or <keyword id="6791630" type="UNKNOWN" weightage="60" keywordseo="cbdc" source="Orion">CBDC</keyword>, before March 2023. Major central banks such as the US Federal Reserve and the Bank of England are already developing CBDCs, which provide a centralized, official alternative to pure cryptocurrencies. But it is the Chinese central bank that is leading the way in CBDCs, and is it several years ahead of its counterparts in its development program. Its <a href="https://markets.businessinsider.com/currencies/news/digital-yuan-china-central-bank-currency-visitors-2022-winter-olympics-2021-4-1030316791">digital yuan</a> is in use at the Beijing Winter Olympics on right now.Lawmakers in India's lower house in December introduced a bill to <a href="https://www.businessinsider.com/crypto-investing-india-ban-bitcoin-retail-investors-kimchi-premium-cbdc-2021-11">prohibit all private cryptocurrencies</a>, but the government later said it could instead <a href="https://markets.businessinsider.com/news/currencies/crypto-ban-india-regulate-bill-fines-sebi-cryptocurrency-digital-asset-2021-12">bring in regulation</a>.But Sankar said none of the arguments for crypto regulation stand up to basic scrutiny. "We have seen that crypto-technology is underpinned by a philosophy to evade government controls. Cryptocurrencies have specifically been developed to bypass the regulated financial system. These should be reason enough to treat them with caution."

India should ban 'Ponzi' private cryptos or risk wrecking the country's financial system, a top RBI central banker has warned

<ul class="summary-list"><li><keyword id="11983909" type="UNKNOWN" weightage="60" keywordseo="mark-mobius" source="Orion">Mark Mobius</keyword> touted <keyword id="11896079" type="UNKNOWN" weightage="60" keywordseo="gold" source="Orion">gold</keyword>, Chinese equities, and other Asian stocks as good investments during current market uncertainty.</li><li><keyword id="11892748" type="UNKNOWN" weightage="60" keywordseo="china" source="Orion">China</keyword> is likely to be in a good position as it isn't exposed to the situation in Europe, Mobius told Bloomberg Thursday.</li></ul>Famed investor Mark Mobius suggested adding Chinese and <keyword id="12539901" type="UNKNOWN" weightage="60" keywordseo="emerging-market" source="Orion">emerging market</keyword> stocks to the list of traditional safe havens for investors looking to find more stable investments as <a href="https://www.businessinsider.com/why-russia-is-attacking-ukraine-putin-justification-for-invasion-2022-2">Russia's spiraling conflict with Ukraine</a> adds uncertainty to financial <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword>.Vladimir Putin <a href="https://www.businessinsider.com/putin-announces-military-assault-against-ukraine-in-surprise-speech-2022-2">launched a full-scale attack</a> on Ukraine Thursday, a move that made equity markets sell-off across the board. Eastern European stocks were hit particularly hard, down well in excess of 10% in the aftermath of the attack in some cases.In times of intense uncertainty like Russia's invasion, the reaction in markets is to pile into safe-haven assets at the expense of those that carry higher risk. Mobius said investments in China are particularly safe compared to those in the Western nations that have <a href="https://www.businessinsider.com/russia-sanctions-ukraine-world-governments-president-putin-kremlin-invasion-businesses-2022-2">imposed sanctions on Russia</a>."China will probably be in a fairly good position, given the fact that they are not exposed to the situation in Europe so much," he told <a href="https://www.youtube.com/watch?v=bbOS20hJ1ro">Bloomberg</a> in an interview Thursday."I think China is going to be a <keyword id="12940262" type="UNKNOWN" weightage="60" keywordseo="safe-haven" source="Orion">safe haven</keyword>, because they're going to continue to produce, they'll continue to grow," he said, adding that the economy is expected to cut <a href="https://www.bloomberg.com/news/articles/2022-02-15/china-market-watchers-see-pboc-cutting-rates-in-coming-months">interest rates</a>.Mobius, who has previously recommended <a href="https://markets.businessinsider.com/news/commodities/mark-mobius-hold-gold-inflation-hedge-stimulus-devalue-currency-worldwide-2021-8">portfolios should hold 10% in gold</a>, reiterated support for the yellow metal."I think (gold) is going to continue to go higher in view of the situation," he said, referring to a backdrop of soaring inflation and the rise of cryptocurrencies."With all the cryptocurrencies, we're seeing an incredible avalanche of currencies around the world," he said. "And of course, that means devaluation of currencies, and that means, inflation and higher commodity prices."<a href="https://markets.businessinsider.com/commodities/realtime-chart/gold-price">Gold</a> was last down 1.4% at $1,898 an ounce, but is up nearly 3% in the last month.Mobius also touched on <a href="https://markets.businessinsider.com/news/commodities/oil-price-russia-ukraine-invasion-biden-west-energy-sanctions-supply-2022-2">soaring oil prices</a> due to geopolitical tensions, saying this would add inflationary pressure for a number of countries reliant on Russia for oil. But he pointed out that some countries like India are dependent on other sources of energy, such as coal. "We found that in fact, the oil price alone is not really going to kill these markets and countries like Brazil, of course, producing their own oil," he said. "So it's a very mixed picture."Other Asian countries including Thailand, Vietnam, Malaysia, Indonesia, the Philippines, Taiwan, and Korea are also potentially insulated from the Russia-Ukraine conflict, according to him. Still, he cautioned the outlook across markets appears very mixed."It's going to be very important for people to be stock picking, being very careful given the fact that interest rates are going up."Read More: <a href="https://www.businessinsider.com/stock-market-outlook-3-big-risks-that-may-cause-a-crash-morningstar-2022-2">Are US stocks still 20% overvalued? Morningstar investment chief weighs in on the parts of the market he is steering clear of - and the 3 potential triggers for a crash</a>

Investing legend Mark Mobius says load up on gold, Chinese equities and other emerging market stocks to cushion against the Russia-Ukraine conflict

<ul class="summary-list"><li>Activity in <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> in Central and Southern Asia, and Oceania grew 706% in the year to June 2021, <keyword id="11902141" type="UNKNOWN" weightage="60" keywordseo="chainalysis" source="Orion">Chainalysis</keyword> said Monday</li><li>Ether had the largest share of crypto activity in <keyword id="11892747" type="UNKNOWN" weightage="60" keywordseo="india" source="Orion">India</keyword>, Pakistan and Vietnam.</li><li>DeFi platforms accounted for most crypto activity across the region in the last year.</li></ul>Crypto-related activity in the fast-growing economies across the Asia-Pacific region soared in the 12 months to June this year, fueled by booming interest in decentralized finance (DeFi), according to a new study by Chainalysis.The Central and Southern Asia and Oceania (CSAO) crypto market is the fourth largest in the world, and transaction activity there increased 706% between July last year and June this year, the data analytics company noted in a <a href="https://blog.chainalysis.com/reports/central-southern-asia-oceania-cryptocurrency-geography-report-2021-preview">report</a> released Monday.In dollar terms, that translates into $572.5 billion in value received, or 14% of total global transaction value, it said.The region is home to the top three countries in Chainalysis' Global <keyword id="11921655" type="UNKNOWN" weightage="60" keywordseo="crypto-adoption" source="Orion">Crypto Adoption</keyword> Index, with Vietnam at number one, India at two, and Pakistan at three. In those top three, ether has proven to be the most popular crypto, largely because of its close ties to DeFi applications and platforms. Stablecoins and bitcoin vie for second place, while altcoins come next. "Centralized exchanges are becoming more stringent and harder to use for people in certain jurisdictions. DeFi doesn't discern where you're from, or care if it has a relationship with your bank," Krishna Sriram, managing director at blockchain security platform Quantstamp told Chainalysis. Part of the attraction of a DeFi platform, particularly in regions where market regulators are tough, is its independent nature. They operate free from central players such as governments, central banks, brokers or commercial banks. DeFi platforms attracted more than $60 billion in cryptocurrency value in April and May this year, when bitcoin hit record highs.Ether peaked in May at around $4,000 and has since fallen by 14%, while bitcoin reached a top of around $65,000 in April and has since lost around 23%, but <a href="https://markets.businessinsider.com/news/currencies/bitcoin-price-mike-novogratz-rally-crypto-btc-investing-ether-2021-10">broke back through $50,000</a> on Tuesday. Bitcoin is the leading crypto with a market capitalization of $936 billion, while ether is in second place with a market cap of $400 billion. It's not just DeFi that has fed crypto activity in the CSAO region. The report showed non-fungible tokens - a form of digital collector's item - have found huge popularity, thanks to the endorsement of celebrities such as Bollywood star Kunal Kapoor, Quantstamp's Sriram said. Other celebrities, such as Akshay BD and Tanmay Bhat, as well as social media influencers have created a crypto education YouTube channel called <a href="https://www.youtube.com/channel/UCi-pkXLbm7sqXFhV1NBLUfQ">Superpumped</a>. "These people aren't just shouting 'Buy bitcoin!' Influencers are discussing the merits of different projects in a nuanced way," Sriram said.

Crypto activity in Asia has grown over 700% in a year thanks to a boom in DeFi: Chainalysis

<ul class="summary-list"><li>27-year-old Sam Peurifoy left his job at <keyword id="6361649" type="UNKNOWN" weightage="60" keywordseo="goldman-sachs" source="Orion">Goldman Sachs</keyword> to make money playing video games, Bloomberg reported.</li><li>Peurifoy, who has a PhD in chemistry from Columbia University, goes by "captain" in <keyword id="11971138" type="UNKNOWN" weightage="60" keywordseo="axie-infinity" source="Orion">Axie Infinity</keyword>. </li></ul>Twenty-seven-year-old Sam Peurifoy left his job at Goldman Sachs to seek wealth as a <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> capitalist in the video-game world.He's a bit of a banker in his new role, too, according to the Oct. 30 story from Bloomberg News titled "<a href="https://www.bloomberg.com/news/features/2021-10-30/what-is-the-metaverse-where-crypto-nft-capitalism-collide-in-games-like-axie?sref=BWbpWjRm">Into the Metaverse: Where Crypto, Gaming and Capitalism Collide</a>." In the <keyword id="12407442" type="UNKNOWN" weightage="60" keywordseo="video-game" source="Orion">video game</keyword> known as Axie Infinity, which is based on the ethereum blockchain, players can earn tokens called Smooth Love Potions, as well as <keyword id="11901075" type="UNKNOWN" weightage="60" keywordseo="nfts" source="Orion">NFTs</keyword> called Axies, both of which can be sold on a crypto exchange. But to start playing the game, players need three Axies, which totals about $1,000, Bloomberg said. As the quasi-banker, Peurifoy lends his NFTs to new players, who earn more cryptocurrency and split the winnings with him.Players from the developing world have flocked to this <keyword id="12453019" type="UNKNOWN" weightage="60" keywordseo="play-to-earn" source="Orion">play-to-earn</keyword> game, <a href="https://markets.businessinsider.com/news/currencies/ethereum-axie-infinity-cryptocurrencies-tokens-slp-axs-markets-2021-8">Insider wrote previously</a>, noting that Vietnam-based Axie Infinity brought in $485 million in revenue from July to August.In this gaming world, Peurifoy is known as the "captain" in charge of what he calls a gang of "kapitalist pirates." His online persona is "Das Kapitalist," a reference to Karl Marx's Das Kapital."Marx probably does not appreciate the joke," he wrote in messages to Insider.Peurifoy, who earned his PhD in chemistry from Columbia University, told Insider that gaming is just an evening and weekend hobby right now while he works full-time as a director at crypto-custody-and-execution firm Floating Point Group.Even so, he said if his "magic internet money" were converted to US dollars, his annual income from the gaming ecosystem exceeds his salary and bonus at the research division at Goldman Sachs."I left GS because of my conviction that 2020 would be a landmark year for institutional crypto, and we'd see a real structural shift in sentiment towards widespread adoption given better connectivity, use cases, and compliance tools," he told Insider.

A 27-year-old left his Goldman Sachs job and became a crypto capitalist in the play-to-earn video game world

<a href="https://www.businessinsider.com/category/master-your-crypto"></a><div type="image" title="finblox peter hoang" height="910" width="1214" msid="93760160" hostid="261" sizebytes="97348"></div><ul class="summary-list"><li>Finblox, a crypto investment platform founded in 2021, has raised $4 million to become a rising star in Southeast Asia.</li><li>Cofounder and CEO Peter Hoang says the firm offers users easy access to their wealth through crypto.</li></ul>Finblox is in the right place at the right time.While based in Hong Kong, the platform serves Southeast Asia, and <a href="https://www.businessinsider.com/bitso-crypto-exchange-mexico-latin-america-profile-2022-7" target="_blank" rel="nofollow noopener sponsored">like Latin America</a>, there's a substantial number of underbanked or unbanked residents in the region — more than 70%, according to a <a href="https://www.bain.com/insights/fufilling-its-promise/" target="_blank" rel="nofollow noopener sponsored">2019 report</a> from Bain &amp; Company.Over 600 crypto-related firms are headquartered in Southeast Asia, with VCs <a href="https://medium.com/venture-beyond/diving-into-south-east-asias-venture-capital-landscape-in-2022-5e1e66df2f38" target="_blank" rel="nofollow noopener sponsored">pouring an estimated $2.5 billion into them in the past 18 months</a>. Crypto-user adoption rates averaged 3.56% in 2021 in Southeast Asia, compared with <a href="https://blog.chainalysis.com/reports/2021-global-defi-adoption-index/" target="_blank" rel="nofollow noopener sponsored">10% in the US</a>, and nearly 10% of Singapore's 5.7 million people own crypto.Finblox allows people to deposit cryptocurrencies like bitcoin or ether into the app and earn interest. Those coins are then loaned out to financial institutions. CEO Peter Hoang told Insider that his company provides over 25,000 users in more than 40 countries an easier to way control their wealth."Traditionally limited by the local financial products, for the first time they have access to a global asset class and are able to invest together with the rest of the world," Hoang said.<h2>'We are still here'</h2>Hoang, 34, graduated from Singapore Management University in 2011 and attended Harvard Business School in 2018, as well as the Smith School of Business at Queen's University in Kingston, Ontario, in 2008.In 2009, he cofounded a social network designed to connect Vietnamese communities around the world and a mobile-game company called Space Jump Studios in 2011.Hoang is an alum of the famed Silicon Valley incubator Y Combinator, which backed a zero-commission stock-trading app called Gotrade that he cofounded in 2019. He's served as an investor at the Singapore-based <a href="https://xanetwork.co/" target="_blank" rel="nofollow noopener sponsored">XA Network</a> since 2021. He became fascinated by the crypto space in 2017. His company employs about 25 people around the world, and Hoang said he strives to lead through engagement with them."They have a lot of freedom to innovate and present their own ideas and strategies, and the founders would step in to contribute and sometimes challenge the logic of the thoughts constructively," Hoang said.Hoang said the accessibility to crypto and the promise of potential returns are two major factors driving adoption in Southeast Asia. And despite a bleak outlook, Hoang is convinced Finblox will come out the other end of this crypto winter alive. "No one can accurately predict when and where the next black-swan event could happen, but we can learn from past mistakes," Hoang told Insider. "We've lived through various crises caused by the systemic failures and overreaching financial institutions — yet we are still here."<h2>'People should not misconstrue this asset class as a get-rich-quick scheme'</h2>The crypto-investment platform was founded in mid-2021 by Dmitriy Paunin and Hoang, and raked in almost $4 million of capital within four months of launching — they've taken VC money from the likes of Sequoia, Saison, and Dragonfly, among others, as well as from <a href="https://nymag.com/intelligencer/article/three-arrows-capital-kyle-davies-su-zhu-crash.html" target="_blank" rel="nofollow noopener sponsored">failed Three Arrows Capital, or 3AC.</a>Finblox offers more than 23 different coins to invest in or lend against, like dogecoin and bitcoin, and a yield of <a href="https://finblox.com/" target="_blank" rel="nofollow noopener sponsored">up to 60%</a> for the Vietnam-based, Sky Mavis-owned, $4.6 billion Axie Infinity, which is the <a href="https://www.crypto-news-flash.com/this-crypto-platforms-is-offering-90-interest-on-axie-infinity-tokens/" target="_blank" rel="nofollow noopener sponsored">third-largest gaming-related asset</a>. The company offers expected yields ranging from 4% to 12% on the rest of the coins.Crypto-lending giant Celsius had a similar business before crumbling during the crypto downturn. The platform also offered eye-popping interest rates and made headlines <a href="https://www.businessinsider.com/celsius-crypto-lending-customers-frozen-withdrawals-liquidity-defi-2022-6" target="_blank" rel="nofollow noopener sponsored">for halting withdrawals</a>, leaving customer funds trapped on the app. It's <a href="https://www.businessinsider.com/crypto-lender-celsius-conducting-own-misconduct-investigation-2022-8" target="_blank" rel="nofollow noopener sponsored">now embroiled in controversy.</a> Finblox itself was forced <a href="https://blockworks.co/finblox-imposes-withdrawal-limit-amid-3acs-uncertainty/" target="_blank" rel="nofollow noopener sponsored">to impose $1,500 withdrawal limits</a>, but not freezes, in mid-June because of its exposure to the crypto hedge fund Three Arrows Capital, which imploded when a major stablecoin went haywire.He's irked about some users saying crypto can be a shortcut to wealth."This has been perpetuated on Crypto Twitter, Reddit, and some popular crypto influencers," Hoang said. "The golden rules of investing, 'the higher the risk, the higher the return' and 'time in the market is more important than timing the market' hold for crypto, too, and people should not misconstrue this asset class as a get-rich-quick scheme."But Hoang said trust in crypto can be improved with clarity from companies — and common sense from consumers."Reports, disclosures, educational articles, and communication can go a long way," Hoang told Insider. "However, the community does not have the power to control individual users' risk tolerances or decisions — that responsibility always rests with the user."This article is intended to provide generalized information designed to educate a broad segment of the public; it does not give personalized investment, legal, or other business and professional advice. Before taking any action, you should always consult with your own financial, legal, tax, investment, or other professional for advice on matters that affect you and/or your business.

Meet the CEO of Finblox, a Hong Kong-based crypto lender serving a region with some of the highest fintech adoption in the world

<ul class="summary-list"><li><keyword id="11971138" type="UNKNOWN" weightage="60" keywordseo="axie-infinity" source="Orion">Axie Infinity</keyword>, an ethereum-based game, has seen a boom in popularity and revenue. </li><li>Sky Mavis, the game's creator, saw a jump in revenue to $485 million since July, according to a Bloomberg report. </li><li>The play-to-earn game is popular in emerging <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword> that have been hit by the coronavirus pandemic. </li></ul>An ethereum-based game called Axie Infinity has pulled in millions of real-world dollars for the company that created it, with people mostly from developing countries playing with the game's colorful and competitive creatures to try to earn some cash for themselves. Inspired by Pokémon, the Axie Infinity game is experiencing a surge in players seeking to participate in its play-to-earn model. Its growing popularity is part of the reason Sky Mavis, the game's creator, has seen a jump in revenue. The Vietnam-based game studio has logged $485 million in revenue since July, dwarfing the $21 million it had made since launching in 2018, according to <a href="https://www.bloomberg.com/news/articles/2021-08-25/axie-infinity-how-game-is-turning-pandemic-jobless-into-crypto-nft-traders?sref=GUP2BhaG">a report this week by Bloomberg</a>. Daily active users reached more than 1 million in August. Two crypto analysts told Insider's Vicky Ge Huang <a href="https://www.businessinsider.com/crypto-game-axie-infinity-token-surge-nft-craze-opensea-altcoins-2021-8">about three ways to cash in Axie's growth</a>. Players can earn two types of tokens - Smooth Love Potions and Axie Infinity Shards - through breeding, raising and battling virtual creatures called Axies. The SLP and AXS tokens can be used in the game or can be sold on a crypto exchange. Axies are non-fungible tokens, or NFTs, that can be sold or purchased. The Bloomberg report said most players are based in developing countries whose economies were hit hard by the COVID-19 pandemic, including the Philippines, Brazil and Venezuela. In "the pursuit of a new income stream during the COVID pandemic," thousands of people from developing countries have been playing the game, according <a href="https://whitepaper.axieinfinity.com/">to a white paper</a> updated in December on Axie Infinity's website. A jump in the price of AXS has opened the door for people in struggling economies to earn some money. Demand from the Philippines climbed enough for crypto exchange Binance to <a href="https://www.binance.com/en/support/announcement/7c5f8346dcc240c99f79f55582f01e8f">offer an SLP-peso trade,</a> the report said, and there's also the lure of cryptocurrencies in places where local currencies are weak. Players need three Axies to get started but buy-in costs can be pricey, at around $200 for each creature. But sponsors can step in and allow people to play in exchange for a cut of their earnings. Such arrangements have also boosted revenue for Sky Mavis as it takes a cut every time an Axie changes hands and collects a fee when players breed new creatures, the report said. Bloomberg highlighted a player from Manila who in his first two weeks of playing Axie Infinity earned more than 37,000 pesos ($732), or three times what he would have earned at the IT job he was laid off from in July. The game has some detractors, however. Vanessa Cao, founder of venture-capital firm BTX Capital, told Bloomberg the Axie model is unhealthy and unsustainable, with people spending hundreds of dollars upfront to play.

A crypto game has generated $485 million in revenue since July and is drawing flocks of players from developing countries looking to make money

<ul><li>The AirAsia Group Berhad sold <a href="https://www.businessinsider.in/business/corporates/news/tata-group-hikes-its-stake-in-airasia-india-buys-additional-32-67-stake-for-37-66-million/articleshow/80011503.cms">32.67% of its stake in the Indian subsidiary to Tata Sons for $37.66</a> million. </li><li>Analysts believe that the Tata Group got a 20% discount on the airline’s value.</li><li>Air Asia wasn’t doing very well even before the pandemic. It has been making losses, and its balance sheet has never been strong.</li></ul>The AirAsia Group Berhad on December 29 sold <a href="https://www.businessinsider.in/business/corporates/news/tata-group-hikes-its-stake-in-airasia-india-buys-additional-32-67-stake-for-37-66-million/articleshow/80011503.cms">32.67% of its stake in the Indian subsidiary to their joint venture partner Tata Sons for $37.66</a> million (₹276 crore). Analysts believe that the Tata Group got a 20% discount on the airline’s value. One may argue that the prospects for airlines may have been hit by the pandemic, but on the other hand, the market value of Air Asia India’s peers like IndiGo and SpiceJet has doubled since the pandemic broke out in March. <div type="image" title="Spicejet and Indigo" msid="80101441" hostid="261"></div> Why did AirAsia sell its stake at such a discounted price? Multiple factors may have played into the discount on Air Asia. “Either AirAsia has a significant amount of liabilities, which you know is yet not known since this year COVID has been a big impact on the airline sector. Second, the prospect of recovery which the Tatas see within AirAsia India might not be that great,” Ansuman Deb, a research Analyst at ICICI Securities told Business Insider. The Malaysian parent was also desperate for some cash. While selling its stake AirAsia Group President (Airlines), Bo Lingam also highlighted that “this transaction is in line with our initiatives towards reducing cash utilisation for the Group and will allow us to use cash to grow market share in our core markets in Asean, particularly in Malaysia, Thailand, Indonesia and the Philippines as well as for our future expansion into Cambodia, Myanmar and Vietnam.” <div type="image" title="Air Asia" msid="80101471" hostid="261"></div> More importantly, Air Asia wasn’t doing very well even before the pandemic. It has been making losses, and its balance sheet has never been strong. “In terms of operations also the airline barely has 6% market share — then the legal implications also vary — When it comes to flying internationally, they are not allowed to do so at this point of time, so there are a variety of reasons that led to this,” said another analyst who didn’t want to be named citing compliance reasons. Air Asia India in 2018 was accused of bribery and violation of the country’s aviation laws, which the company refuted. There are other legal tangles that AirAsia India has been caught in, like, <a href="https://m.economictimes.com/industry/transportation/airlines-/-aviation/give-ownership-undertaking-to-fly-abroad-govt-to-airasia-india/articleshow/71283862.cms">ownership undertakings</a> to fly abroad to <a href="https://www.business-standard.com/article/companies/dgca-investigating-airasia-india-after-pilot-alleges-safety-violations-120061501729_1.html">DGCA’s investigation</a> on safety violations. Now, that begs the question why did Tatas buy more stake in a troubled airline? Tatas preparing AirAsia India to bid for Air India <div type="image" title="Air India" msid="80101481" hostid="261"></div> The Tata Group wants to buy out India’s national carrier, Air India, and they planned to bid for it via Air Asia India. There are many within the ruling establishment in New Delhi and their political affiliates, who want <a href="https://theprint.in/india/sell-air-india-only-to-an-indian-entity-rss-tells-modi-govt/356996/">Air India to be sold to an Indian company</a>, and not to a foreign one. The government earlier this week had removed the <a href="https://timesofindia.indiatimes.com/business/india-business/government-removes-january-5-deadline-for-intimating-qualified-bidders-for-air-india/articleshow/80044767.cms">January 5 deadline</a>, for notifying qualified bidders for Air India. The transaction adviser will now reach out to the qualified parties that submitted their expression of interest (EOI) for the airline. According to the ICICI Securities report, “If Tatas successfully acquire Air India and consolidate Vistara and AirAsia India under its brand, the industry will convert from a 6 to 4 player industry comprising Tata group. IndiGo, SpiceJet and GoAir.” So are IndiGo and SpiceJet overpriced? Similarly, the hope of recovery post the advent of a vaccine ⁠— along with the return of revenge travel⁠ and the struggles of GoAir— and the expectation of fewer competitors, eventually, have led the stocks of IndiGo and SpiceJet to double since the crash in March 2020. “The market has taken all the positives at this point. Now we will have to wait and see if they deliver it up. So IndiGo might be best at something of this sort or probably reaching an overvalued territory,” warned the analyst seeking anonymity. In comparison, Spicejet shifted its focus to carrying more cargo during the pandemic, when the number of passengers dried up. “I think it is fairly valued, and there’s some upside left (in the stock),” he added. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/reliance-says-it-has-absolutely-no-plan-to-enter-contract-farming-urges-government-to-stop-vandalism-amidst-ongoing-farmers-protests/articleshow/80091733.cms" data-type="tilCustomLink">Reliance says it has 'absolutely no plan' to enter contract farming — urges government to stop vandalism amidst ongoing farmers' protests</a> <a href="https://www.businessinsider.in/stock-market/news/big-money-chasing-bitcoin-takes-the-cryptocurrency-to-a-new-record-high-of-34000/articleshow/80090730.cms" data-type="tilCustomLink">Big money chasing Bitcoin takes the cryptocurrency to a new record high of $34,000</a>

Tatas got AirAsia stake at a 20% discount while IndiGo and SpiceJet’s value has doubled since pandemic broke out

<ul><li><keyword id="6355725" type="ORGANIZATION" weightage="20" keywordseo="tata-group">Tata Group</keyword> hikes its stake in <keyword id="1583080" type="COMPANY" weightage="20" keywordseo="AirAsia-India">AirAsia India</keyword>, buys additional 32.67% stake for $37.66 million (₹276 crore).</li><li>Tata Group now holds 83.67% stake in the venture, with an option to acquire the rest 16.33% stake for $18.83 million.</li><li>This move comes as the race for Air India’s divestment heats up, with its second phase beginning on January 5. Tata Sons has filed an expression of interest to rescue the cash-strapped national carrier. </li><li>The government will announce the names of qualified bidders in the second phase of the divestment process. </li></ul>AirAsia Group Berhad announced that it would <a href="https://newsroom.airasia.com/news/airasia-group-reduces-stakes-in-airasia-india">sell 32.67% stake in AirAsia India to Tata Sons </a>for $37.66 million (₹276 crore). This will bring its shareholding in the joint venture with Tata Sons to 16.33%. Tata Group now holds 83.67% stake in the venture, with an option to acquire the rest 16.33% stake for $18.83 million. Tata group earlier owned 51% of the stake in the joint venture. This move gains significance as the race for Air India heats up, and Tatas have shown preliminary interest in bidding for the national carrier. Tata Sons filed an <a href="https://www.businessinsider.in/india/news/tata-group-may-reportedly-bid-for-air-india-through-air-asia/articleshow/79716935.cms">Expression of Interest </a>to rescue cash strapped Indian flag carrier Air India last week. The second phase of the strategic disinvestment of Air India will start on <a href="https://www.businessinsider.in/india/news/second-phase-of-air-india-disinvestment-to-begin-from-january-5/articleshow/80010981.cms?upcache=2">January 5,</a> with the announcement of the names of the qualified bidders.In the stage II, shortlisted interested bidders will be provided with a request for proposal (RFP) and thereafter there will be a transparent bidding process, said a presentation by the ministry. Earlier this year, Rashtriya Swayamsevak Sangh (<a href="https://theprint.in/india/sell-air-india-only-to-an-indian-entity-rss-tells-modi-govt/356996/">RSS) had raised their opposition</a> against the sale of Air India to foreign airlines and conveyed their concerns to the government. RSS had said that the national carrier must be only sold to an Indian entity. Other Swadeshi lobbies, including Swadeshi Jagran Manch (SJM), had raised their resistance as well. Meanwhile, earlier this month, BJP MP Subramanian Swamy had urged the government to <a href="https://www.hindustantimes.com/india-news/bjp-mp-asks-hardeep-puri-to-disqualify-tata-sons-from-air-india-s-bidding-process/story-ZLm4oh66pXS8pO1IqayVOP.html">disqualify Tata Sons </a>from the Air India disinvestment process till a final decision on his plea against Tata Sons and AirAsia India is taken by the court. Subramanian in 2013 had filed a petition in the Delhi high court challenging the illegal grant of license to <keyword id="86568" type="COMPANY" weightage="20" keywordseo="Air-Asia">Air Asia</keyword> India. AirAsia moves to reduce its cash burn “This transaction is in line with our initiatives towards reducing cash utilisation for the Group and will allow us to use cash to grow market share in our core markets in Asean, particularly in Malaysia, Thailand, Indonesia and the Philippines as well as for our future expansion into Cambodia, Myanmar and Vietnam.,” said President (Airlines) of AirAsia Group, Bo Lingam. “India will remain an important market for AirAsia. TSL has been an excellent partner and we look forward to continue working closely together in other areas of growth,” he added. The group in a Malysian stock exchange filing said the cash received as purchase consideration will be utilised as working capital in Q1 for the parent company. The company also hinted towards further liquidation of its assets saying “as India is a non-core market for AirAsia (being a non-ASEAN country), the company will continue to regularly reassess its business strategies and dispose of non-core investments to augment its liquidity.” AirAsia’s bumpy ride The Malaysian partner has been battling financial headwinds for quite some time now. AirAsia also gave a clear indication on exiting the India business earlier in November, when its president Bo Lingam said the businesses in India have been “draining cash” and causing much financial stress to the parent company. “Our businesses in Japan and India have been draining cash, causing the Group much financial stress. Cost containment and reducing cash burns remain key priorities evident by the recent closure of AirAsia Japan and an ongoing review of our investment in AirAsia India,” President (Airlines) of AirAsia Group, Bo <a href="https://www.thehindu.com/business/Industry/airasia-india-draining-cash-reviewing-investment-in-joint-venture-malaysias-airasia-group/article33123081.ece">Lingam said in the statement in November</a>. The parent company AirAsia also ceased its Japan operations in October, citing “highly challenging operating conditions in Japan which have been aggravated by the COVID-19 pandemic.” The company has been unprofitable since its launch in 2014. In FY20 results, Tata Sons said that the pandemic completely eroded the AirAsia India net worth, and its auditor raised the red flag about the JV’s ability to continue. The Tata Group also invested nearly ₹490 crore in AirAsia India in FY20, while the JV posted a loss of ₹317 crore in the same period. SEE ALSO: <a href="https://www.businessinsider.in/politics/world/news/house-passes-bill-to-increase-600-stimulus-checks-to-2000/articleshow/80001571.cms" data-type="tilCustomLink">House passes bill to increase $600 stimulus checks to $2,000. It now goes to the Senate.</a> <a href="https://www.businessinsider.in/science/news/most-vaccine-skeptics-are-persuadable-and-will-get-the-covid-19-shot-says-a-nobel-prize-winner-who-studies-vaccine-hesitancy/articleshow/79995460.cms" data-type="tilCustomLink">Most vaccine skeptics are persuadable and will get the COVID-19 shot, says a Nobel prize-winner who studies vaccine hesitancy</a> <a href="https://www.businessinsider.in/stock-market/news/bitcoin-mining-stocks-surge-after-the-cryptocurrency-passes-28000-for-the-first-time/articleshow/79996286.cms" data-type="tilCustomLink">Bitcoin-mining stocks surge after the cryptocurrency passes $28,000 for the first time</a>

Days before the Air India bid, Tatas give AirAsia a ‘national’ tag

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Reuters</div></div></div>Here is what you need to know.1. <a href="https://www.businessinsider.com/us-and-china-reportedly-reach-trade-war-2019-6?r=US&amp;IR=T">The US and China have reportedly struck a truce in the trade war</a>. The news raised hopes for a productive meeting between Donald Trump and Xi Jinping on Saturday.2. <a href="https://www.businessinsider.com/bayer-buoyed-by-new-approach-to-glyphosate-lawsuits-elliott-stake-2019-6?r=US&amp;IR=T">Bayer is reviewing its legal strategy</a>. The pharmaceuticals giant's shares jumped 8% in pre-market trading after it hired an external lawyer and set up a committee to deal with lawsuits targeting its glyphosate weedkillers.3. <a href="https://www.businessinsider.com/companies-dodge-trump-tariffs-sneak-chinese-goods-through-vietnam-2019-6?r=US&amp;IR=T">Companies are dodging Trump's tariffs by sneaking Chinese goods through Vietnam</a>. The strategy could spur Trump to slap tariffs on the Southeast Asian country.4. <a href="https://www.businessinsider.com/bitcoin-slides-12-ending-recent-surge-2019-6">Bitcoin's surge may have ended for now</a>. The cryptocurrency tumbled 12% on Thursday after rising more than 30% in the past week.5. <a href="https://www.businessinsider.com/adnoc-closes-4-billion-pipeline-deal-with-kkr-and-blackrock-2019-6?r=US&amp;IR=T">Abu Dhabi National Oil Company has sold 40% of its pipeline business</a>. Buyers BlackRock and KKR will lease ADNOC's interest in 18 pipelines for 23 years.6. <a href="https://www.businessinsider.com/report-huawei-employees-helped-china-military-on-research-projects-2019-6?r=US&amp;IR=T">Huawei employees have worked with the Chinese military</a>. The tech giant's workers collaborated on at least 10 research projects with the state, deepening espionage concerns.7. <a href="https://www.businessinsider.com/amazon-launches-new-in-store-pickup-option-with-rite-aid-as-first-partner-2019-6?r=US&amp;IR=T">Amazon has partnered with Rite-Aid to launch a new in-store pickup option</a>. The "Counter" service will launch in 100 stores and expand to 1,500 stores by the end of the year.8. <a href="https://markets.businessinsider.com/news/stocks/stocks-jump-on-trump-truce-in-us-china-trade-war-2019-6-1028312512">Stocks are up on signs of progress in the US-China trade war</a>. Hong Kong's Hang Seng led the pack in Asia (+1.4%), while Nasdaq futures were out front in the US (+0.3%).9. <a href="https://markets.businessinsider.com/earnings-calendar?utm_source=markets&amp;utm_medium=ingest">Several big names are reporting earnings</a>. Nike, Walgreens, Accenture, H&amp;M, and ConAgra Foods are set to reveal their results later today.10. <a href="https://markets.businessinsider.com/economic-calendar?utm_source=markets&amp;utm_medium=ingest#date=06/27/2019&amp;name=&amp;countries=us&amp;eventtypes=&amp;tab=1,2,3">There's a raft of economic data coming out</a>. The latest readings for GDP, personal consumption, jobless claims, and pending home sales will be revealed today. <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/giant-squid-emerges-deep-sea-rare-sighting-japan-toyama-bay-2015-12">Watch a diver swim right next to a 12-foot giant squid in Japan</a></h3> <div> </div> </div>

10 things you need to know before the opening bell

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Scott Olson/Getty Images</div></div></div>Stocks did virtually nothing as skeleton crews returned after the Christmas holiday.All of the major indices managed to scrape into the green, but still finished little changed.And now, for the scoreboard:<ul><li>Dow: +8.86 at 19,942.67</li><li>S&amp;P 500: +0.22% at 2,268.74</li><li>Nasdaq: +0.44% at 5,486.58</li><li>US 10-year yield: +2.4 basis points at 2.561%</li></ul>1. <a href="http://www.businessinsider.com/bitcoin-december-27-2016-2016-12">Bitcoin soars</a>. The cryptocurrency rallied 4% to $935, its best level in three years. Bitcoin has gained about 30% since the US election. 2. <a href="http://www.businessinsider.com/consumer-confidence-december-2016-2016-12">Consumer confidence jumps to its best level since August 2001</a>. Monthly data released by the Conference Board showed the Consumer Confidence Index hit 113.7 in December, its highest level since July 2007. Increasing expectations for the future were the sole reason for the move. 3. <a href="http://www.businessinsider.com/sp-corelogic-case-shiller-home-price-index-october-2016-2016-12">US home prices hit a post-financial crisis high</a>. Home prices gained 5.6% annually in October, according to the S&amp;P/Case-Shiller index. The biggest gains were seen in Seattle, Denver, and Portland.ADDITIONALLY:<a href="http://www.businessinsider.com/stock-market-interest-rates-earnings-2016-12">The most important driver of the stock market will change in 2017</a><a href="http://www.businessinsider.com/r-italy-set-to-put-in-around-68-billion-to-salvage-monte-paschi-sources-2016-12">Bailing out the world's oldest bank is getting more expensive</a><a href="http://www.businessinsider.com/vietnam-loose-monetary-policy-sowing-the-seeds-of-the-next-crisis-2016-12">Vietnam could be 'sowing the seeds of the next crisis</a><a href="http://markets.businessinsider.com/news/stocks/RBCs-chief-US-market-strategist-sees-a-continued-upside-to-stocks-through-2017-1001630247">'The market will correctly judge his administration on policy, not 3 a.m. tweets'</a> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/fed-federal-reserve-raised-rates-janet-yellen-explain-why-2016-12">Watch Yellen explain why the Federal Reserve decides to raise rates</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="9iN245ODE6FzNRBdC0_U12Pgj2-fdpNL" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

STOCKS GO NOWHERE: Here's what you need to know

<div class="image-container float_right"><div class="image">REUTERS/Gleb GaranichProtesters try to break through police lines near the presidential administration building during a rally held by supporters of EU integration in Kiev, December 1, 2013.</div></div>Good morning. Here's what you need to know.
<ul>
<li>Asian markets were mixed in overnight trading. Japan's Nikkei closed down 0.04% and Korea's Kospi was off 0.69% while Hong Kong's Hang Seng was up 0.66%. European markets were all down, and U.S. futures looked mixed.</li>
<li>It's going to be a <a href="http://www.businessinsider.com/economic-data-preview-first-week-of-december-2013-12">busy week</a> for the economy, starting today. The world's economies began releasing their purchasing managers indices (PMI) last night, giving us a good idea of the <a href="http://www.businessinsider.com/asia-pmi-december-1-2013-12">temperature of the global economy</a>. The Asian economies were first (anything above 50 is deemed healthy): <a href="http://www.businessinsider.com/korea-manufacturing-improves-slightly-2013-12">South Korea's PMI</a> was up to 50.4 from 50.2 in October; <a href="http://www.businessinsider.com/november-hsbc-china-pmi-2013-12">China HSBC</a>, 50.8 from 50.9; <a href="http://www.businessinsider.com/taiwan-manufacturing-20-month-high-surge-2013-12">Taiwan</a>, 53.4 from 53.0; <a href="http://www.markiteconomics.com/Survey/PressRelease.mvc/a58df3e1c5664370b5e6b9f1bbf4bd31">Vietnam</a>, 50.3 from 51.5. "Our concern as economists is that a new round of geopolitical tension in the region could have ramifications on trade at a time where momentum is already slowing in emerging economies," wrote the analysts at Société Générale. See our <a href="http://www.businessinsider.com/asia-pmi-december-1-2013-12">full scorecard here</a>.</li>
<li>Next up was Europe. <a href="http://www.businessinsider.com/italian-pmi-2013-12">Italian manufacturing</a> hit a 2-year high, rising from 50.7, to 51.4. <a href="http://www.businessinsider.com/greek-pmi-2013-12">Greece hit its own milestone</a>, with output actually expanding. Greece rose from 47.3 in October to 49.2, the country's highest level in 51 months. <a href="http://www.businessinsider.com/french-pmi-2013-12">France</a>, on the other hand, hit a 5-month low, dropping from 49.1 in October to 48.4 in November. <a href="http://www.businessinsider.com/spanish-pmi-2013-12">Spain</a> also took a dive, from 50.9 to 48.6. <a href="http://www.businessinsider.com/uk-pmi-2013-12">The U.K.</a> continues to be the belle of the European ball, with PMI spiking from 56.4 to 58.5. Later this morning we'll get data on U.S. PMI.</li>
<li>Then at 10:00 a.m. ET, we'll see U.S. ISM manufacturing and construction spending data. Economists believe the ISM index dropped to 55.0 in November from 56.4 the month prior. "A tug of war between the reported rebound in the Markit Economics' national barometer and generally softer regional manufacturing canvasses suggests that the Institute for Supply Management's (ISM) Purchasing Managers' Index (PMI) probably dipped modestly to 56.0 in November, essentially matching the average posted over the August-October span," <a href="http://www.businessinsider.com/monday-scouting-report-dec-2-2013-2013-11">Societe Generale's Brian Jones</a> wrote clients. Economists are also looking for a 0.4% climb in construction spending in October, though the data may be off thanks to the government shutdown. </li>
<li>In an interview with German magazine Der Spiegel, Nobel Prize-winning economist <a href="http://www.businessinsider.com/nobel-prize-economist-robert-shiller-warns-of-us-stock-market-bubble-2013-12">Robert Shiller warned of a financial bubble</a>. "I am most worried about the boom in the U.S. stock market. Also because our economy is still weak and vulnerable," he told the magazine. "I am not yet sounding the alarm. But in many countries, stock exchanges are at a high level and prices have risen sharply in some property markets," he said. "That could end badly."</li>
<li>Morgan Stanley's research team has targeted <a href="http://www.businessinsider.com/morgan-stanleys-five-big-transitions-2013-12">five key transition themes for the year ahead</a>. "1. US: From QE to credible forward guidance on interest rates; 2. Japan: From deflation to (moderate) inflation; 3. Europe: From financial fragmentation to a credible banking union; 4. China: From leverage-driven growth to reform-driven growth; 5. EM: From broken traditional to sustainable new growth models." Essentially, they argue that the more we see these five key transition themes, the more we'll see global growth. </li>
<li>Mass violent protests have broken out in both Thailand and Ukraine. In the former, Prime Minister Minister Yingluck Shinawatra said she would not resign amid anti-government protestors' attempts to <a href="http://www.businessinsider.com/thai-prime-minister-refuses-to-resign-after-mass-protests-turn-violent-in-bangkok-2013-12">topple her administration</a>. In Kiev, protests turned violent after President Viktor Yanukovych's <a href="http://www.businessinsider.com/protesters-bulldoze-the-police-2013-12">refused to sign a trade agreement with the EU</a>, effectively sealing the country's ties with Russia.</li>
<li>On ESPN "College GameDay," a student <a href="http://www.businessinsider.com/someone-holding-bitcoin-sign-on-college-gameday-receives-over-22-bitcoins-2013-12">held up a sign with the Bitcoin logo</a> and a QR code, the visual "barcode" associated with his digital wallet. Like any college kid, the student was cheekily imploring his Mom to send money. Little did he know that the Reddit community, the consummate Internet champion of Bitcoin, would enhance the image and make digital donations. He racked up over $24,000-worth of the cryptocurrency.</li>
<li>A J.P Morgan economist has <a href="http://www.businessinsider.com/jp-morgan-economist-responds-to-pope-2013-12">given his "response" to the pope's widely circulated critique of capitalism</a>. James Glassman doesn't mention Pope Francis by name, but it's pretty clear he's offering the counterpoint to the pontiff. "Poverty is not a modern phenomenon," he writes. "Second, the developed economies are still recovering from deep recessions and in time will reach their full potential... Those hurt by the recession will be restored as the developed economies continue to recover. And third, despite the cyclical problems of the developed economies, the average global living standard is at a record high-the highest known in the records compiled by economists and still climbing, thanks to the support from the developed economies."</li>
<li>Finally, today is Cyber Monday, the digital shopping sister to Black Friday. Online sales from desktop computers and mobiles <a href="http://money.cnn.com/2013/11/30/news/economy/cyber-monday/">could reach $2 billion</a>. It's still a fraction of the money generated during Black Friday, albeit with fewer <a href="http://www.businessinsider.com/fight-breaks-out-at-walmart-2013-11">fistfights</a>.</li>
</ul>

You Searched For "cryptocurrency in vietnam" and got 11 results

India should ban 'Ponzi' private cryptos or risk wrecking the country's financial system, a top RBI central banker has warned

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Investing legend Mark Mobius says load up on gold, Chinese equities and other emerging market stocks to cushion against the Russia-Ukraine conflict

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Crypto activity in Asia has grown over 700% in a year thanks to a boom in DeFi: Chainalysis

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Meet the CEO of Finblox, a Hong Kong-based crypto lender serving a region with some of the highest fintech adoption in the world

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Tatas got AirAsia stake at a 20% discount while IndiGo and SpiceJet’s value has doubled since pandemic broke out

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Days before the Air India bid, Tatas give AirAsia a ‘national’ tag

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STOCKS GO NOWHERE: Here's what you need to know

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