@sidcoins
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Another day, another hack.
Crypto exchange Bitget said it detected unauthorized transfers from some of its hot- and warm-wallet infrastructure and activated emergency response protocols bloomberg.com/news/articles/…
The day is yet to end, but PB Fintech (PolicyBazaar) is down 26%, on track for its biggest single-day fall on record.
Sidhartha Shukla (@s1dc01n.bsky.social) retweeted
Spot btc ETF flows now positive for the year…
Have taken in $4.6bil since Treasury said it would increase buybacks of long-dated bonds.
Price of btc ↑ 35% over this time.
@ChrisWeston_PS: Avg holder “now comfortably back in unrealized profit” w/ avg cost of btc held in ETFs around $82,000.
via @sidcoins
Sidhartha Shukla (@s1dc01n.bsky.social) retweeted
FIXING A HOLE: Bitcoin ETFs' YTD flows are now positive after a $4.6b tsunami of cash came in over the past month ever since Bessent said it would increase bond buying which reminded everyone that the train has no brake pedal, only gas. Chart, story via @sidcoins
Sidhartha Shukla (@s1dc01n.bsky.social) retweeted
The Election Commission of India is under fire like never before.
The SIR has struck 13 crore names off draft rolls, putting the EC at the centre of intense public debate over its role in deciding who gets to vote — and who doesn’t.
HOWEVER, what nobody knew: through that same period, some of the sharpest questions were being asked from inside.
Out today, after months of work. Our #ExpressInvestigation 🧵
(1/10)
Sidhartha Shukla (@s1dc01n.bsky.social) retweeted
The national rollout of the SIR has been under the supervision of all three Election Commissioners. But two of them, Sukhbir Singh Sandhu and Vivek Joshi, have formally objected, on record, at least 14 times over the last 10 months — four times on a single day — to decisions taken and orders issued, they say, without their knowledge.
Read the #ExpressInvestigation here:
shorturl.at/zyY1A
India’s food regulator said it has initiated legal action against Nestle India for breaching infant nutrition marketing rules and for substandard manufacturing bloomberg.com/news/articles/…
Indian retailers and stockbrokers are worried that a new fee on payments through the state-backed digital network could increase costs, squeezing margins bloomberg.com/news/articles/…
Sidhartha Shukla (@s1dc01n.bsky.social) retweeted
UPI transactions above Rs 2,000 that attract the new 0.4% MDR will also be subject to 18% GST on the MDR amount, a CBIC official told NDTV Profit.
@Shrimichoudhary
With Treasuries sinking and the dollar falling this year, Bitcoin and gold are again being touted as hedges against currency debasement. bloomberg.com/news/articles/…
The 10-year US Treasury yield rose to the highest level in almost two decades, the latest milestone in a bruising global bond selloff
bloomberg.com/news/articles/…
Treasury Secretary Scott Bessent challenged traders to test his resolve on boosting Japan’s currency, saying when he wades into markets these days he’s effectively doing so with inside information
David Finnerty explains: bloom.bg/4AlGHqv bloomberg.com/news/articles/…
One theory is that nobody should be allowed to create a share of stock except the company whose stock it is. bloomberg.com/opinion/newsle…
Sidhartha Shukla (@s1dc01n.bsky.social) retweeted
Allahabad HC says Noida DM Medha Roopam sought to "set an example" out of student activist Akriti Chaudhary; orders ₹5L compensation recovered from DM and other officers' salaries while quashing NSA detention.
Read more: zurl.co/j5oTL
#AllahabadHighCourt #MedhaRoopam #NSAdetention
AMC boss Adam Aron criticized Robinhood after the platform launched a tokenized version of the theater chain’s shares bloomberg.com/news/articles/…
Sidhartha Shukla (@s1dc01n.bsky.social) retweeted
The events at HDFC Bank confirm two of my worst suspicions.
One, celebrity founders and CEOs often leave behind a leadership vacuum. As the adage goes, nothing grows under a banyan tree. India is witnessing that more frequently as part of the great handover from post-liberalization leaders to the next generation.
And two, the Reserve Bank of India may need to rethink its approach to bank ownership and management. Its tight regulations haven’t always succeeded in keeping bad actors out — think Chanda Kochhar and Rana Kapoor — while its repeated interventions seem to have allowed bank boards to forget that the job of installing capable new leaders is theirs to do.
bloomberg.com/news/newslette…
Sidhartha Shukla (@s1dc01n.bsky.social) retweeted
Meta has agreed to pay up to $17.1 billion in a landmark settlement with US states over allegations that Facebook and Instagram harmed young users and misled consumers about their safety.
The deal includes imposing tighter usage limits and expanding protections for young users.
Sidhartha Shukla (@s1dc01n.bsky.social) retweeted
Bloomberg has just launched a dedicated digital experience for India. You can visit bloomberg.com/India for exclusive reporting and curated features, video and other content from our global newsroom.