Millennials hunting for returns drive risk-hungry investing in In

An impatient Indian investor class, largely driven by millennials, is leaping into riskier investments from peer-to-peer lending to cryptocurrencies in the hope of boosting returns rocked by one of the worst inflation rates in Asia. The sheer number of individuals pouring money into new and lightly controlled assets sets India apart, after the pandemic fueled…

BlockFi, Crypto.com lay off hundreds as global crypto market cras

Crypto trading and lending exchanges BlockFi and crypto.com have laid off hundreds of employees after the global crypto market was battered owing to a “dramatic shift” in macro-economic conditions. BlockFi CEO Zac Prince said that the company is reducing headcount by roughly 20 per cent and the reduction impacts every team at the company. “This…

Crypto market sinks below $1 trn after latest DeFi blowup; Bitcoi

Bitcoin plunged to the lowest in about 18 months after the freezing of withdrawals by the Celsius lending platform added to concern that systemic risk in the crypto ecosystem will accelerate the digital-asset market meltdown. The world’s largest digital token tumbled as much as 17% to $22,603 — its lowest since December 2020. Other cryptocurrencies…

Blockchain-based DeFi platforms need scrutiny, experts warn inves

As leading cryptocurrencies nosedive, investors of DeFi (decentralised finance) platforms also need to exercise “caution and scrutiny” amid growing concerns about the liquidity of this certain type of cryptocurrency service, experts warned on Monday. The warning came as Celsius Network, a DeFi platform and one of the largest crypto lenders, announced that it was “pausing…