The Singapore-based cryptocurrency platform and Kwon defrauded clients for years through crypto asset securities, resulting in huge losses when the business failed. The SEC lodged its case against Terraform and Kwon in February 2023. The financial watchdog said the trial, which took place in April 2024, unveiled how Terraform and its CEO deceived victims through…
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Analysts believe India’s developing economy presents an ideal investment climate. The country’s overall economy is on track to grow by approximately 7.6% in the present financial year. According to CNBC, Krishnamurthy Subramanian, executive director of the IMF, described India’s economic landscape as “easily” the fastest-growing economy worldwide. The media outlet reported that Kevin T Carter,…
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The case arose when businesses complained that Visa and Mastercard were charging them excessive fees when they processed credit or debit card payments for customers. These included swipe fees and interchange fees. The complaint was also based on the merchants being unable to guide their customers towards cheaper ways of paying. The latest twist came…
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CNN reported that the Russian Central Bank (RCB) and the MOEX published statements to this effect on Wednesday 12 June 2024, a bank holiday in Russia. These were released a mere hour after Washington announced the fresh sanctions. Based on CNN’s report, these penalties aim to hinder the “flow of money and goods” into Russia…
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In its 13 June 2024 press release, DXTrade said that Sage Capital Management uses “market relationships and significant trading volumes” towards priority trade executions and optimal pricing. Based on this media statement, a regulated custodian holds funds to eliminate exchange risk and ensures “fast onboarding via a UK FCA-regulated entity”. Don’t miss out the latest…
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Carlos Slim has an estimated fortune of £72.4bn and now has a 3.2% stake in the London-based telecom company. That makes him one of the largest BT shareholders. Slim built his empire in the Latin American telecoms market, and analysts are now speculating about his possible overall plan. French telecoms billionaire Patrick Drahl remains the…
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According to Riot, this move by Bitfarms is “shareholder unfriendly” and spotlights the crypto miner’s gaps in corporate management. The conflict started when Riot, which is also a cryptocurrency miner, made a $950m unsolicited bid for Bitfarms in April 2024. Bitfarms rejected this offer, stating that it did not reflect the organisation’s true market value,…
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In May 2024, Beijing announced a proposal for a 300bn CNY credit facility that could trigger bank financing for state-owned enterprises (SOEs) to buy unsold homes. Based on a Reuters report, Chinese banks are expected to furnish reduced loans to SOEs through this facility supported by the People’s Bank of China (BOC). This will enable…
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The $6bn share buyback was confirmed by CFO Paul Jacobson, who pointed out that the automotive giant is ramping up its capital allocation strategy. The GM board has approved this new plan, and the repurchase of up to $6bn of the company's common shares will proceed. This new strategy is in addition to the $10bn…
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The S&P 600 lists small-cap companies with market values of between $250m and $2bn. In its press release, the financial services company said that its subsidiaries VHF Parent LLC and Valor Co-Issuer, Inc. plan to issue $500m in senior first lien notes due 2031. Don’t miss out the latest news, subscribe to LeapRate’s newsletter The…
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