Aptos co-founder and CEO Mo Shaikh steps down to ‘start new chapter’

December 20, 2024 Coin Telegraph

Aptos Labs

Mo Shaikh, who co-founded the firm in 2021 alongside Avery Ching said he would stay on board at Aptos Labs as a strategic adviser.

Mohammad Shaikh, the co-founder and CEO of layer-1 blockchain Aptos Labs, has resigned from the top position to “start a new chapter,” with co-founder and chief technology officer Avery Ching now taking over as the new CEO.

Shaikh co-founded Aptos Labs alongside Ching in 2021, helping Aptos mainnet launch in October 2022. He helped the firm raise $400 million and establish key partnerships.

“Today I am stepping away from Aptos Labs to start a new chapter,” Shaikh said in a Dec. 19 X post before expressing confidence in the firm’s future.

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India’s Bitcoin Treasury Era Begins With a Bold Corporate Pioneer

December 11, 2024 Bitcoin.com

bitcoin treasury

An Indian company has made history by adopting bitcoin as its primary treasury reserve, signaling a bold shift in corporate finance and digital asset strategies. Corporate India Ushers in Bitcoin Treasury Era with Groundbreaking Move Jetking Infotrain, a 77-year-old Indian IT training company with a $5 million market capitalization and $2 million in annual sales, […]

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Dedollarization Is Not Our Objective: India Clarifies Currency Goals

December 8, 2024 Bitcoin.com

bitcoin.com

ndia rejects de-dollarization narratives, with the Reserve Bank of India (RBI) prioritizing local currency trade agreements to shield its economy from dollar volatility and global uncertainties. RBI Denies Dedollarization Goals, Focuses on Securing Indian Trade Reserve Bank of India (RBI) Governor Shaktikanta Das clarified India’s stance on global currency discussions during a post-monetary policy press […]

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Crypto Biz: Wall Street gets a taste of altseason

December 7, 2024 Coin Telegraph

Binance.us

This week’s Crypto Biz explores Ether ETFs growing inflows, the political moves behind Meta’s stablecoin sunset, BitGo’s plans for India, and more.

Wall Street appears to have embraced the altseason, with Ether (ETH) surpassing Bitcoin (BTC) in exchange-traded funds inflows during the final week of November.

According to CoinShares, net inflows for ETH funds reached $634 million over that week, setting a new record of $2.2 billion in 2024 as investors diversify portfolios in anticipation of improved regulatory conditions in the United States.

Markets are likely watching the prospects of additional revenue coming from ETH funds. Analysts from Bernstein Research anticipate that Ether ETFs may soon feature staking yields. “We believe, under a new Trump 2.0 crypto-friendly [Securities and Exchange Commission], ETH staking yield will likely be approved,” Bernstein said on Dec. 2.

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Binance, WazirX among crypto firms evading taxes in India, says gov’t

December 4, 2024 Coin Telegraph

Binance

India has recovered $14 million in goods and services tax from crypto firms like WazirX, but Binance has yet to pay its $85 million tax evasion liabilities, the minister said.

The Indian government has detected a significant amount of unpaid goods and service taxes (GST) by major cryptocurrency exchanges, including Binance and WazirX.

India’s Minister of State for Finance, Pankaj Chaudhary, said the government has found 824 crore Indian rupees ($97 million) in GST in unpaid taxes by several crypto exchanges, The Economic Times reported on Dec. 3.

Authorities have reportedly initiated multiple related investigations into crypto exchanges, including WazirX, CoinDCX and CoinSwitch Kuber.

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Reserve Bank of India expanding cross-border payments platform

November 24, 2024 Coin Telegraph

CBDC

According to the Atlantic Council, 134 countries are currently exploring CBDCs in different phases — including every G20 country.

The Reserve Bank of India (RBI) is seeking to expand its cross-border payments platform — which will allow instant settlement — by adding new trading partners in the Asia and Middle East regions.

According to Bloomberg, India already has an agreement with neighboring Sri Lanka, Bhutan, and Nepal, with plans to add the United Arab Emirates (UAE) to its cross-border settlement program.

India is also exploring using central bank digital currencies (CBDCs) as the primary settlement mechanism within its cross-border payment solution.

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Indian Official Expresses Doubts About Crypto: ‘I Am Very Skeptical’

November 23, 2024 Bitcoin.com

bitcoin.com

India’s financial services secretary expressed deep skepticism about cryptocurrency, calling it a doubtful scheme, despite the nation’s top crypto adoption ranking. Indian Official Speaks Out: ‘Very Skeptical of Cryptocurrency’ M. Nagaraju, Secretary of India’s Department of Financial Services (DFS), expressed strong doubts about cryptocurrencies during the SBI Banking & Economics Conclave on November 18, 2024. […]

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India Expands Payment Ties With Regional Partners to Strengthen Cross-Border Financial Networks

November 21, 2024 Bitcoin.com

bitcoin.com

India’s expanding payment ties with nations like UAE and Sri Lanka highlight a push for seamless transactions, paired with cautious central bank digital currency (CBDC) advancements. India’s Growing Regional Payment Ties Signal a New Financial Era India is broadening its payment linkages with several nations, including Sri Lanka and the United Arab Emirates (UAE), as […]

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India Urged to Embrace Bitcoin as Strategic Reserve Asset Amid Global Unrest

November 15, 2024 Bitcoin.com

bitcoin.com

Investment firm Bernstein has urged India to recognize bitcoin as a strategic reserve asset, highlighting its potential as “digital gold” amid global financial risks like inflation, U.S. debt, and geopolitical instability. Bernstein argues that India’s current focus on central bank digital currencies (CBDCs) and its classification of bitcoin as a “private currency” overlook BTC’s key […]

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Bitcoin scammers impersonate police, Sunray Finance $2.7M drain: Crypto-Sec

November 4, 2024 Coin Telegraph

Bitcoin

Scammers pretended to be police and demanded BTC for missing court dates, while an attacker minted a huge number of SUN tokens and dumped them.

Some residents of the state of Colorado in the United States have fallen victim to a new police impersonation scam.

According to an Oct. 31 report from local news site Summit Daily, a scammer called residents and claimed to be a representative of the local government. They told the victim that they had to pay a $10,000 fine for missing jury duty, which must be paid in Bitcoin.

In response, the victim transferred $6,000 of Bitcoin (BTC), but the real authorities stopped the victim from transferring the remaining $4,000, saving it from the attacker’s hands.

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