Tag Archives: india

Under India’s Group of 20 (G20) presidency, the country is finally gearing up to provide the much-anticipated clarity around crypto regulation. As India prepares to preside over the upcoming G20 summit for the first time, the regulation of cryptocurrencies is poised to be a significant focal point. Ahead of the gathering of the world’s most influential nations scheduled for later this week, India’s Minister of Finance, Nirmala Sitharaman, confirmed that discussions are in...

CoinSwitch – an Indian cryptocurrency exchange backed by the financial giant Andreessen Horowitz (a16z) – has reportedly trimmed its team by 44 people, representing 7% of the total workforce. Another local digital asset organization that recently announced similar amendments is CoinDCX, which laid off 12% of its employees. What is the Reason? According to a BQ Prime coverage, CoinSwitch has decided to reduce its team due to the decreasing level of customer activity. A...

CoinDCX is the latest crypto company to slash staff as it tries to navigate through market challenges. The Coinbase Ventures-backed Indian crypto unicorn cited the prolonged bear market and the impact of TDS on domestic exchanges to lay off 12% of its workforce, or 71, out of its total 590 employees. The development comes after the company went through an internal restructuring earlier this year. CoinDCX Lay Offs Founded by Neeraj Khandelwal and Sumit Gupta in 2018, CoinDCX...

CoinspeakerJio Financial Services (JFS) Drops 5% in Share Price Following Market Debut Despite recording a reduced valuation, JFS remains the third-largest non-banking financial company in India. Jio Financial Services (JFS) Drops 5% in Share Price Following Market Debut

The leading financial technology company – Revolut – reportedly plans to increase its global cryptocurrency team by hiring up to 20% more employees by the end of 2023. The move comes somewhat unexpectedly since the firm recently disclosed that it will suspend digital asset services to US-based customers from September. As revealed by Financial News, Revolut is set to onboard over 1,000 people this year across the United Kingdom, Europe, and India. Approximately 40% of those...

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up India’s Minister of Finance Nirmala Sitharaman says cryptocurrencies will take up most of the chat time during this year’s upcoming G20 presidency event in India. Nirmala Sitharaman on Crypto in India Not long ago, Sitharaman visited Washington and explained in a statement: Given so many collapses and shocks in...

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up Rajeev Chandrasekhar – the minister of state for IT and electronics – said crypto could present a “legitimate case of macroeconomic risks,” in a recent report. He also said that a world without crypto regulation is a dangerous one. Rajeev Chandrasekhar on Crypto in India Chandrasekhar commented: It is a very...

A 49-year-old resident of Kolkata, India, reportedly drowned in the Hooghly River. The primary autopsy found no evidence of violence, suggesting he committed suicide.  The man supposedly invested in shares and bitcoin, hinting that a potential loss on his investment could be one reason behind his unnatural death. Another Indian Jumping off a Bridge A recent coverage informed that the Indian police found the body floating in the Hooghly River, several miles north of Kolkata....

The US-based cryptocurrency exchange – Gemini – announced plans to establish a new engineering hub in Gurgaon, India. This will be the company’s second Asian location, as previously it opened an office in Singapore. The expansion outside the US coincides with the regulatory uncertainty in the States. The CEO of Coinbase – Brian Armstrong – recently opined that many American crypto firms could relocate if the watchdogs continue their scrutiny over the industry. Setting Eyes on...

A 23-year-old professional with a major tech company who lost nearly Rs. 30 lakh (approx. $37,500) in the cryptocurrency market tried to commit suicide by jumping off a river bridge in Kolkata, India. A cab driver who noticed the young man on the Vidyasagar Setu (bridge) alerted the nearby police about his intentions. Borrowed to Invest in Crypto The police were able to prevent the techie from jumping off the famous bridge into the river, media reports said, without...