Bitcoin is nearing record highs, fueled by optimism around global liquidity, including China’s stimulus efforts, and the upcoming US elections. Blockforce Capital’s Brett Munster noted that rising liquidity from central banks often drives Bitcoin’s price up.
Adding to the bullish sentiment, Vice President Kamala Harris pledged support for a clear crypto regulatory framework, contrasting with Donald Trump’s crypto-related initiatives during his presidential campaign. Bitcoin recently hit $68,376, approaching its March peak of nearly $74,000.
BharatPe reduced its losses by about 50% to ₹474 crore in FY24, while revenue grew 39% to ₹1,426 crore. The company became EBITDA positive in October 2024, cut cash burn by 85%, and plans to scale its lending, POS, and consumer offerings.
BlackRock and Jio Financial are in talks for a 50-50 joint venture to tap into India’s growing private credit market, lending to large companies and startups. This would be their third collaboration, following ventures in asset management and stock broking. India’s private credit investments hit a record $6 billion in the first half of 2024. The deal is not finalized yet, and both companies declined to comment.
SEBI has proposed allowing Associations of Persons (AoPs) to hold mutual funds, corporate bonds, and government securities in demat accounts to simplify operations and encourage dematerialisation. The proposal excludes equity shares and mandates legal responsibility for AoPs to comply with statutory limits.
Lendingkart is facing a major valuation drop from $350 million to $100 million due to stress in the unsecured loan market. The MSME-focused lender is negotiating new funding with investor Fullerton Financial, which may increase its stake to over 60%.
Despite turning profitable in FY23 with ₹119 crore, Lendingkart’s defaults have risen, impacting its financials. The company’s assets under management grew 46%, driven by co-lending partnerships, but revenue has been affected by off-book lending arrangements.
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