Author: Ansh Singh

New Delhi: Cashaa, a prominent neo-bank in crypto businesses, announces that its Founder and CEO, Kumar Gaurav, has stepped down from his position. While Kumar has not yet disclosed his immediate plans, it is anticipated that he is preparing for even greater endeavours. Under Kumar’s leadership, Cashaa evolved from a Bitcoin startup into a major player in the banking sector for crypto and high-risk businesses. His departure marks the end of an era at Cashaa, characterised by groundbreaking innovations. This development comes as Cashaa strategically shifts its business model, discontinuing banking services for crypto and other high-risk businesses to focus…

New Delhi: Nvidia is close to becoming the world’s second-most valuable company, driven by the increasing use of AI technology. Apple’s value dropped to $2.92 trillion because of weak demand for its iPhones, losing the top spot to Microsoft. Meanwhile, Nvidia’s stock has tripled in value to $2.68 trillion due to high demand for its AI-focused chips. Nvidia’s potential to overtake Apple comes from its crucial role in AI, with its high-end chips powering many AI applications like OpenAI’s ChatGPT. This surge in demand has significantly increased Nvidia’s stock value over the past year, bringing it near Apple’s market value.…

New Delhi: The Indian IT sector is facing a downturn ahead of the upcoming election. Last week, Foreign Institutional Investors (FIIs) sold ₹7,754.40 crore worth of stocks, while Domestic Institutional Investors (DIIs) bought ₹14,935.15 crore worth. The Indian stock market lost nearly 2 percent over the past week, reversing the previous week’s gains. This drop happened due to the anticipation of election exit poll results, GDP data, the expiration of May futures and options (F&O), and continued selling by FIIs. However, mixed corporate earnings, positive monsoon forecasts, and buying by DIIs helped reduce the losses. The Nifty50 index dropped by…

New Delhi: Jamie Dimon, the CEO of JPMorgan Chase, shared his morning routine, highlighting how he keeps up with news from around the world. In an interview with the Wall Street Journal, Dimon described his early start and the newspapers he reads to stay informed about US and global events. “I wake up at around 4:35 am and go through five newspapers in a specific order,” Dimon said. He starts with the Washington Post: “I skim the Post because many people read it. I check the front page, interesting stories, the business section, and the editorials where smart people write.”…

New Delhi: On Friday, Japanese cryptocurrency exchange company DMM Bitcoin revealed that it had suffered from hack resulting in the loss of 4,502.9 bitcoins, equivalent to approximately $305 million. According to the crypto security company Elliptic, this incident ranks as the eighth-largest crypto theft ever recorded. DMM Bitcoin announced that it detected an “unauthorized leak of Bitcoin (BTC) from their wallet, and has since initiated an investigation while implementing measures to prevent further breaches. The exchange has also restricted certain services to enhance security, as per a machine-translated version of the company’s official blog, originally posted in Japanese. Customers were…

New Delhi: In today’s fast-changing business world, using technology smartly is really important. HTS Solutions is a top company that helps businesses do this. They’re experts in using technology to help businesses grow and work better. Offering a diverse range of IT solutions tailored to meet the specific needs of organizations, HTS Solutions is committed to delivering comprehensive services that drive tangible results. From custom software development to web and mobile application development, cloud computing services, cybersecurity solutions, and enterprise resource planning (ERP) solutions, HTS Solutions provides a holistic approach to addressing the digital needs of businesses. At the heart…

Hyderabad: Recordent, a leading fintech platform dedicated to transforming accounts receivable challenges for SMEs across India, announces its plan to conduct over 100+ Knowledge Meets, engaging with more than 10,000 SMEs nationwide. These events are designed to analyze and streamline the payment collection practices for SME sectors, addressing challenges in cash flow management and credit awareness. The initiative begins with inaugural events in Mumbai, Hyderabad, and Delhi. Recognizing the pivotal role SMEs play in driving economic growth and fostering entrepreneurship, Recordent highlights a concerning trend: over 90% of SMEs experience significant delays in payments, impacting business operations and continuity. Collaborating…

New Delhi: Paul Graham, co-founder of Y Combinator, recently denied the claims on X that Sam Altman, CEO of OpenAI, was forced to quit as president of Y Combinator in 2019 due to conflicts of interest. Graham said, “People have been claiming that Y Combinator fired Sam Altman, that’s not true.” Altman joined Y Combinator as a part-time partner in 2011 and was named president by Graham in February 2014. In 2015, Altman, along with Elon Musk, Peter Thiel, and Y Combinator co-founder Jessica Livingston, started OpenAI as a nonprofit, raising $1 billion. Altman managed both Y Combinator and OpenAI…

New Delhi: TechEagle, a pioneer in on-demand drone delivery and Asia’s leading drone logistics company, announced today the successful completion of its Bridge Round funding, co-led by Navam Capital and Inflection Point Ventures (IPV), with participation from Paytm Founder Mr. Vijay Shekhar Sharma (via his 100% owned company), Venture Catalysts, and a diverse group of high-net-worth individuals. This bridge round ahead of Series A represents a pivotal milestone in TechEagle’s journey towards reshaping last-mile logistics across urban and semi-urban areas. With strong backing from strategic investors and entrepreneurs, including Tushar Jani, Co-founder of BlueDart Express Limited and Ajoy Khanderia, founder…

New Delhi: Elon Musk is being accused of secretly buying a large amount of Twitter stock in early 2022 with help from a Morgan Stanley banker. A shareholder lawsuit says this involved market manipulation and delaying the disclosure of his ownership. An Oklahoma public pension fund claims Musk, with advice from an unidentified banker at Morgan Stanley, managed to avoid alerting the market while buying a major stake in Twitter. This banker gave Musk and his business manager, Jared Birchall, regular updates on trading strategies to keep the purchases hidden, showing how much money they saved by doing so. The…