CRYPTO LENDING APP
How thematic investing is changing the way Indians approach crypto
In India, investors are increasingly embracing thematic investing as they explore cryptocurrency and other sectors. This innovative investment style allows individuals to focus on specific trends and ideas rather than sticking to conventional categories. To support this, ZebPay has launched CryptoPacks, offering users curated portfolios that resonate with various themes. These packs simplify investment management and signify a shift toward future-focused digital asset strategies.
What lies ahead for Altcoins: Looking at the future of diversified portfolios
Bitcoin remains prominent in the cryptocurrency market, but altcoins are emerging with innovative solutions for transaction speed and energy efficiency. Altcoins like Ethereum, Solana, and Cardano are revolutionizing DeFi and real-world asset tokenization, attracting institutional interest and mainstream adoption. Investors should consider balancing their portfolios with both established and emerging altcoins for long-term potential.
Crypto lenders emerge from the ashes of last speculative bubble
The rally is helping the lending sector recover from the setbacks of 2022 and 2023, when numerous market participants went bankrupt due to a wave of risky loans. Crypto lending has nearly tripled in the first nine months of 2024 compared to the previous year. Although much of this activity is now occurring on decentralized apps, overall volume remains well below the peak levels seen in 2021.
ED investigates Indian links of foreign gambling apps, suspects over Rs 1 lakh cr bets
The Mahadev scam, revealing extensive illegal online betting networks, is far from resolved despite some progress. The Enforcement Directorate (ED) is now investigating over two dozen offshore gaming apps involved in massive financial crimes, with losses potentially exceeding Rs 1 lakh crore. These apps often use cryptocurrencies and fake transactions to launder money, making them difficult to trace. Despite efforts, new apps quickly replace those shut down, complicating enforcement. To tackle this issue, experts call for stricter regulations and better coordination among agencies.
Crypto transfers to private wallets to now face identification checks
Crypto exchanges in India are planning to introduce a rule that will only allow a transfer of cryptocurrencies after the sender discloses the identity of the persons behind the private wallet receiving the cryptos. While there is a standard procedure to get to know the identity of buyers and sellers as part of the know-your-customer process, there is no way to know the identity of a private wallet owner. Transfers to private or unknown wallets have been a problem in the crypto ecosystem, leading to the new proposal to track transfers to private wallets and enhance security.
Tug-of-war: DogeMiyagi, Bitcoin, and Ethereum battle for the title of the most captivating community
How DogeMiyagi is distinguishing itself by fostering an interactive community culture through an engaging, humour-driven ecosystem
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BlockFi gets court nod to return $297 million to wallet customers
BlockFi was one of several crypto lenders to go bankrupt in 2022, and questions about the ownership of customer funds have also been raised in the bankruptcies of Celsius Network and Voyager Digital.
GoI works with IT ministry and RBI to clamp down on Ponzi apps
Historically, scamsters have been one step ahead of regulators. What has alarmingly deepened the reach of today's faceless - and often stateless - operators is the proliferation of touchscreen mobile phones, cheap internet data and sharing of personal information by unsuspecting users while downloading apps, or responding to fancy financial promises and job offers over a chat. The schemes, too, have evolved.
Quick-loan apps submit docs to prove legitimacy; interim relief to Flipkart in Rs 1,100-cr tax case
The ban on 94 quick-loan apps has caught the digital-lending industry in a quagmire. Even as senior executives continued their hectic discussions with government officials on Wednesday, fintechs are rushing to submit their shareholding pattern to the Centre.
Crypto Price Today Live: Bitcoin holds $17K; Litecoin tanks 2%, Shiba Inu lone gainer
Fed's action brought a reality check for the riskier assets, including cryptos, which wiped out the buoyancy seen in digital tokens boosted by in-line inflation numbers earlier this week.
Illegal digital lending apps driving citizens to suicide, says Ministry of Home Affairs
The ministry has noted that "many of these illegal lending apps may not be regulated entities by RBI and are using bulk SMS, digital advertisement, chat messengers and mobile app stores on a massive scale".
Home Ministry asks states, UTs to take urgent action against predatory Chinese lending apps
It said a large number of complaints have been reported across India related to illegal digital lending apps that provide short-term loans or micro-credits at exorbitant interest rates with processing or hidden charges, especially to vulnerable and low-income group people.
UP Police unearths Rs 4,200 cr fraud with links to Chinese operators
Earlier this year, the police found a link with China-based operators and were cheating people out of crores of rupees across India. This was done through a number of instant loan lending apps and part-time job offers from supposedly leading companies. The police official said, that they had detected a scam worth around Rs 3,000 crore which was linked to China. The connection was also established on the pretext of crypto currency trading through fake websites.
Cooperating with ED on CoinSwitch functioning: CEO Ashish Singhal
Ashish Singhal says 'last few days’ events not about money laundering or PMLA’
CoinSwitch cooperating with financial crime agency probe: CEO
CoinSwitch, valued at $1.9 billion, is backed by Andreessen Horowitz, Tiger Global and Coinbase Ventures.
Crypto.com lays off more employees in 'worse' second job cut round
According to a Decrypt report, citing sources, Crypto.com hasn't announced the latest round of job cuts publicly.
ED probing at least 10 crypto exchanges; fintech firms want clarity on new lending rules
The Enforcement Directorate (ED) is probing at least 10 crypto currency exchanges for allegedly laundering more than Rs 1,000 crore identified as proceeds of crime from firms under investigation in the Chinese instant loan app case, sources told us.
ED freezes bank accounts of WazirX worth Rs 64.67 crore
The agency’s statement comes days after the minister for state (Finance) Pankaj Chaudhary told the Parliament that WazirX was being probed under money laundering.
Crypto lender Celsius says it is exploring options
Celsius earlier this month froze withdrawals and transfers, citing "extreme" market conditions, leaving its 1.7 million customers unable to redeem their assets.
End of the crypto craze? Indian investors wary as mega sell-off continues
According to experts, crypto investors and traders in India are currently exercising caution and a distinct dip in crypto buying has been noticed.
Interest on idle virtual assets: How do crypto deposits work?
Cryptocurrency startups have begun offering investors an option to earn interest on virtual assets to battle volatility even as the industry awaits regulatory and legal clarity on the issue. Crypto startups are offering fixed returns on one’s holdings.
Interest on idle virtual assets: How do crypto deposits work?
These FD-like products promise passive income to those seeking exposure to crypto. These products have an investment tenure ranging from a week to a year and allow cashing out early if needed without any penalty. Though these seem similar to bank FDs, such crypto-linked investments are outside the regulatory purview and hence risky.
Expect Robinhood clones to rise if India makes crypto an asset class
While there are similar ‘discount brokers’ in India, none of them currently allows trading in crypto.
Crypto banking and decentralized finance, explained
The development of Bitcoin and thousands of other cryptocurrencies in a little over a decade has changed the definition of money — and spawned a parallel universe of alternative financial services, allowing crypto businesses to move into traditional banking territory.
ZebPay sets up crypto-lending feature on its app
On Zebpay’s crypto-lending platform, depending on the term of deposit, users can generate returns of up to 3% on their Bitcoin, up to 7% on Ethereum and Dai, and up to 12% on Tether.
India should tap global cryptocurrencies to fund SMEs, help grow business: iSPIRT
This can be done by allowing validated investors through Indian and global exchanges, which will help bridge the SME financing gap of as much as $500 million in the country, it said.
Moving beyond cryptocurrencies: Why decentralised finance is the new buzzword
The Supreme Court’s move to lift an RBI ban on cryptocurrencies has shifted the focus to decentralised finance. These virtual currencies can change the way the banking and finance sector works.
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