Bitcoin falls 5% as China vows crackdown on crypto market
Bitcoin fell nearly 5% as China’s central bank called all digital currency activities illegal and vowed to crack down on the market. Bitcoin was last down 4.6% at $42,874, while Ether fell over 8% and XRP slipped 7%. The central bank said all cryptocurrency-related transactions are illegal and must be banned.
Amazon invests ₹450 crore in its Indian payments unit: Report
Amazon has infused ₹450 crore into its payments unit in India, Amazon Pay as per filings with the Ministry of Corporate Affairs. Amazon Pay (India) has allotted 45 crore equity shares aggregating to ₹450 crore to Singapore-based Amazon Corporate Holdings Private Limited and Mauritius-based Amazon.com Inc, as per filings sourced by Tofler. The shares were allotted on September 17.
Cryptotech industry to reach $241 million in India by 2030: Report
Cryptotech industry is likely to be worth $241 million by 2030 in India, and $2.3 billion by 2026 globally, a report by NASSCOM and WazirX said. The cryptocurrency market in India has the potential to create eight lakh jobs by 2030. It can reportedly create an economic value addition of $184 billion in the form of investments and cost savings.
IPO-bound Delhivery raises $125 million from Lee Fixel’s Addition
Logistics unicorn Delhivery said it has raised $125 million from Lee Fixel’s venture capital firm Addition. “Fixel remains a long-term backer of Delhivery and has been investing and reinvesting in the company since 2015,” it added. Delhivery is expected to file draft papers for an IPO in the coming months and could raise $800 million to $1 billion.
Government inks ₹20,000-crore deal with Airbus to buy 56 military transport aircraft
The government inked an over ₹20,000-crore contract with Airbus Defence and Space of Spain to procure 56 C-295 aircraft. Sixteen aircraft will be delivered in flyaway condition by Airbus Defence and Space within 48 months. The remaining 40 planes will be manufactured in India by a consortium of Airbus Defence and Space and Tata Advanced Systems Limited within 10 years.
Alibaba to sell stake in broadcaster amid China’s tech crackdown
An investment arm of Alibaba will divest its entire stake of 5.01% in Chinese broadcaster Mango Excellent Media amid China’s crackdown on technology firms. Alibaba, which made the purchase only nine months ago, is seeking a waiver from a one-year lock-up agreement. Mango’s shares have reportedly fallen roughly 40% since it announced Alibaba’s exit in filings.