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Time of India
27-05-2025
- Business
- Time of India
Trump Media to raise $2.5 billion to invest in bitcoin
Trump Media and Technology Group will raise about $2.5 billion to invest in bitcoin, U.S. President Donald Trump 's social media firm said on Tuesday, as it looks to diversify its revenue streams with a push into the financial sector. The company is raising the funds by selling $1.5 billion in stock at its last closing price and $1.0 billion in convertible notes priced at a 35% premium, it said in a statement. The bitcoin will be held on Trump Media's balance sheet alongside existing cash and short-term investments totaling $759 million as of the end of the first quarter. Crypto platforms Anchorage Digital and will provide custody for the bitcoin holdings. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Crypto Tracker TOP COIN SETS DeFi Tracker 6.63% Buy AI Tracker 6.12% Buy Crypto Blue Chip - 5 2.18% Buy NFT & Metaverse Tracker 0.15% Buy Web3 Tracker -3.04% Buy TOP COINS (₹) Ethereum 227,055 ( 4.27% ) Buy BNB 58,814 ( 2.74% ) Buy XRP 200 ( 0.63% ) Buy Bitcoin 9,394,483 ( 0.62% ) Buy Tether 85 ( 0.31% ) Buy "We view bitcoin as an apex instrument of financial freedom," Trump Media CEO Devin Nunes said, hailing the move as a "big step forward" in the company's plan to acquire "crown jewel assets consistent with America First principles ". Did you Know? The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors. View Details » Shares of the company behind Truth Social, a streaming and social media platform, were down 6% in early trading. Live Events Trump Media has been exploring potential mergers and acquisitions as it aims to diversify into financial services. Last month, it reached a binding agreement to launch various retail investment products, including crypto and exchange-traded funds aligned with Trump's America First policies. The Trump family, long rooted in skyscrapers and country clubs, has opened multiple beachheads in crypto, quickly gaining hundreds of millions of dollars. Those other crypto forays include Trump NFTs, a meme coin, a stake in a newly formed bitcoin producer called American Bitcoin and the cryptocurrency exchange World Liberty Financial. But the crypto push has attracted scrutiny from lawmakers, including Democratic Senator Elizabeth Warren, who last month asked the U.S. securities regulator about its plans to supervise ETFs due to be launched by Trump Media.
Mint
16-05-2025
- Business
- Mint
5 Crypto Exchanges in India with Security Standards
The Indian crypto landscape has matured rapidly, with exchanges now operating under tighter regulatory scrutiny and investor expectations for robust security. As digital assets become mainstream, safety, compliance, and transparency are non-negotiable for both new and seasoned investors. Given the volatile nature of the crypto markets, investors must stay vigilant and ensure that the platform they use for investment is safe. Here's a deep dive into the five crypto exchanges in India with high standards for security, based on regulatory compliance, user experience, and features. Mudrex is a global crypto investment platform focused on user-centric design with institutional-grade security. Founded in 2018 and backed by Y Combinator, Mudrex has grown into a global platform serving millions of users and is regulated under FIU-India, ensuring strict adherence to anti-money laundering (AML) and know-your-customer (KYC) norms. Video KYC for Withdrawals: This feature adds an additional layer of identity verification. Regulatory Alignment: FIU-India registration ensures compliance with evolving Indian regulations. Cold Storage and Insurance: The majority of assets are stored offline, reducing hacking risks. Insurance coverage offers an added safety net. 650+ Cryptocurrencies: Offers a broad selection of digital assets, including well-known coins and newer altcoins. Curated Coin Sets: Thematic investment options such as the AI Tracker and Ethereum Ecosystem sets support portfolio diversification. Trade Signals and Futures: Provides daily trading insights and access to futures trading with leverage, suitable for users with varying experience levels. Mudrex's focus on investor education, transparent fee structure (0.2% per transaction), and innovative products like Coin Sets make it an ideal platform for safety-conscious investors seeking both simplicity and depth. CoinSwitch is a non-custodial exchange, meaning it does not hold users' funds, an important trust factor for many Indian investors. This model, combined with a straightforward app-based interface, appeals to both crypto newcomers and veterans. Non-Custodial Model: Users retain control over their assets, reducing counterparty risk. KYC Compliance: A simple, quick onboarding process ensures regulatory adherence. Liquidity Aggregation: Trades are routed through multiple global exchanges, securing optimal rates and minimizing slippage. 170+ Cryptocurrencies: Access to a broad range of tokens. Systematic Investment Plans (SIP): Enables disciplined, recurring crypto investments. Analytics Tools: The Pro version offers advanced tools and limit orders for experienced traders. By combining security, simplicity, and a non-custodial approach, CoinSwitch is particularly attractive for users who prioritize control and transparency. ZebPay, one of India's oldest crypto exchanges (established 2014), continues to set benchmarks for security and reliability. With a user base exceeding 5 million, ZebPay's longevity is matched by its commitment to safeguarding user assets. Multi-Signature Wallets: Transactions require multiple approvals, reducing the risk of unauthorised access. Regular Security Audits: Continuous assessment and improvement of security protocols. KYC & AML Policies: Full compliance with Indian regulations. 100+ Cryptocurrencies: A solid selection for trading and investing. Zero Deposit Fees: Lower entry barriers for new users. Staking & Lending: Opportunities to earn passive income on crypto holdings. ZebPay's strong reputation, advanced security infrastructure, and additional features like staking and lending make it a top choice for both beginners and seasoned investors. CoinDCX, launched in 2018, is one of India's largest and most trusted crypto exchanges, with users across the country. Its reputation for security is built on a foundation of robust protocols and regulatory compliance. Data Encryption & Cold Storage: Multi-layer encryption and offline storage protect user assets. Regular Audits: Frequent third-party security audits ensure ongoing platform integrity. Insurance Cover: User assets are insured against breaches, a rare feature among Indian exchanges. 500+ Cryptocurrencies: Wide selection for trading, staking, lending, and margin trading. DCX Learn: A dedicated educational platform for investors. Swift INR Transactions: Instant UPI-based deposits and withdrawals. CoinDCX's blend of advanced trading features, insurance, and regulatory adherence makes it a top choice for security-focused traders and long-term investors alike. Paxful brings a unique peer-to-peer (P2P) model to the Indian market, emphasising accessibility and user control. It's especially popular for Bitcoin and stablecoin trades. Escrow Protection: Funds are held in escrow during trades, protecting both buyers and sellers. Robust KYC: Mandatory verification for all users. Global Compliance: Adheres to international standards, ensuring safe cross-border transactions. 500+ Payment Methods: From UPI to PayPal, users can buy and sell crypto with unmatched flexibility. Zero Buyer Fees: Cost-effective for those looking to enter the market. Mobile App: Seamless trading on the go. For users seeking flexibility and direct peer-to-peer trades, Paxful's security and accessibility are hard to beat. Exchange Key Security Features Regulatory Status No. of Coins Unique Offering Mudrex Video KYC, cold storage, and insured funds FIU-India 650+ Coin Sets, copy trading, education CoinSwitch Non-custodial, KYC, aggregation FIU-India 170 SIPs, liquidity aggregation ZebPay Multi-sig wallets, audits FIU-India 100 Staking, lending, zero deposit fees CoinDCX Encryption, insurance, and audits FIU-India 500 Staking, margin/futures, DCX Learn Paxful Escrow, global KYC, P2P model Global/India-compliant BTC, USDT 500+ payment methods, P2P flexibility Opt for platforms that operate in line with Indian regulations. FIU-India registration and, where relevant, SEBI oversight indicate adherence to KYC, AML, and tax-related guidelines. 2. Security Protocols Look for: Two-factor authentication (2FA) Cold wallet storage Regular third-party security audits Insurance coverage for digital assets Platforms that clearly disclose their fee structures and offer non-custodial options can reduce reliance on intermediaries and provide greater visibility into how assets are handled. Look for platforms that offer access to learning resources, responsive support teams, and open communication. These elements can help stay informed and aware of potential risks. Crypto markets are extremely speculative and can be driven by sentiment, misinformation, and global factors. It is essential that investors conduct due diligence and determine their own risk tolerance before engaging in virtual digital assets. The article has been complied by Mudrex, an Indian crypto exchange and trading platform. Note to the Reader: Readers are advised that Crypto products and NFTs are unregulated and involve significant risks. There may be no regulatory recourse for losses arising from such transactions. Mint/HTDS shall not, in any manner, be responsible or liable for the content of the article, advertisement, including the views, opinions, announcements, declarations, or affirmations expressed therein and is absolved from any legal action or enforceable claims. This content is for informational and awareness purposes only and does not constitute financial advice.
Time of India
14-05-2025
- Business
- Time of India
Tiny company with China ties announces big purchase of Trump cryptocurrency
A struggling technology company that has ties to China and relies on TikTok made an unusual announcement this week. It had secured funding to buy as much as $300 million of $TRUMP, the so-called meme coin marketed by President Donald Trump. GD Culture Group , a publicly traded firm with a Chinese subsidiary, has only eight employees, its public filings show, and recorded zero revenue last year from an e-commerce business it operates on TikTok, a Chinese-owned video-sharing app. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Doctors Are Stunned: This Patch Targets Stubborn Belly Fat Overnight Today's Health Insight Learn More But on Monday, GD Culture Group became the latest business with foreign ties to seize on Trump's crypto venture, which channels profits directly to the Trump family and has generated conflicts of interest that have alarmed ethics experts. (Meme coins like $TRUMP are a type of cryptocurrency based on an online joke or celebrity mascot and have traditionally not had any utility beyond speculation.) Crypto Tracker TOP COIN SETS DeFi Tracker 34.62% Buy AI Tracker 34.26% Buy NFT & Metaverse Tracker 29.10% Buy Web3 Tracker 21.50% Buy Crypto Blue Chip - 5 17.41% Buy TOP COINS (₹) Ethereum 224,319 ( 6.91% ) Buy XRP 223 ( 4.69% ) Buy BNB 56,069 ( 1.34% ) Buy Bitcoin 8,833,359 ( 0.9% ) Buy Tether 85 ( -0.05% ) Buy In its statement, GD Culture Group, which is traded on the Nasdaq, said it would spend $300 million on a stockpile of bitcoin and $TRUMP, using proceeds from a stock sale to an unnamed entity in the British Virgin Islands, a popular tax haven. It confirmed that investment plan in a securities filing late Tuesday. Did you Know? The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors. View Details » The purchase would create clear ethical conflicts, enriching Trump's family at the same time that the president tries to reach a deal that would allow TikTok to keep operating in the United States rather than face a congressionally approved ban. Live Events The announcement also shows how investors around the world, including some that have virtually no public footprint, have latched on to the president's crypto ventures to boost their own business prospects. Just asserting a connection to Trump's business can quickly raise a company's profile. GD Culture Group's struggling stock rose 12% on Monday, before losing those gains the next day. "Make no mistake. These foreign entities and governments obviously want to curry favor with the president," said former Rep. Charles Dent, R-Pa., who was the chair of the House Ethics Committee. "This is completely out of bounds and raises all sorts of ethical, legal and constitutional issues that must be addressed." Investors in foreign countries have rushed to stock up on the $TRUMP coin since it hit the market in January. Some have stated explicitly that they hoped to use their purchases to influence Trump. GD Culture Group was less clear about its intentions. In its statement, the company said it wanted to "enhance its balance sheet with high-performance, scalable digital assets." It is unclear whether the company will even follow through on the announcement, or how much of the $300 million it has received from its unidentified investor. Last month, the company disclosed that it was in danger of losing its Nasdaq listing because it had failed to meet certain financial requirements. But any purchase by GD Culture Group would be the first known example of a China-linked firm buying Trump's meme coin. In its financial disclosures, the company has noted that its subsidiary, Shanghai Xianzhui, might be influenced by demands from the Chinese government, though that is not unusual wording for a Chinese company. "The Chinese government may intervene or influence its operations at any time," the company said in an annual report filed in March. In recent weeks, the Trump family has faced an intensifying backlash in Washington over its business dealings with foreign countries. On the Senate floor Tuesday, Sen. Chris Murphy, D-Conn., spent 20 minutes walking through the various sources of overseas money pouring into the Trump family business, including the meme coin, a real estate deal involving the government of Qatar and a separate $2 billion crypto deal with a firm backed by the United Arab Emirates. "If a mayor of a small town was selling meetings at City Hall for a thousand bucks, he would be run out of town on a rail, but that's exactly what Donald Trump is doing in the Middle East and all over the world," Murphy said. Representatives for the White House, the Trump Organization and GD Culture Group did not respond to requests for comment. Trump started selling the $TRUMP coin three days before his inauguration, one of several crypto ventures that he and his sons have pursued. The coin's price briefly surged, then crashed just as quickly, costing investors billions of dollars. Last month, Trump and his business partners announced that the top 220 buyers of the coin would be invited to a dinner with the president at his golf club in Virginia, sparking another round of frantic trading that further enriched the Trump family. An analysis by The New York Times and crypto forensics firm Nansen found that many of the coin's buyers were based overseas in countries including Mexico, Singapore and Australia. Under federal law, foreign investors are barred from donating to a political campaign or a president's inaugural fund. But Trump's crypto ventures have offered a new avenue for these overseas buyers to support him financially. In April, a Mexico-based shipping firm, Fr8Tech, announced that it would spend $20 million on Trump's meme coin as a way to "advocate for fair, balanced and free trade between Mexico and the U.S." The statement by GD Culture Group did not mention any policy objectives. Xiaojian Wang, the CEO, said the company was embracing "industrial transformation" through cryptocurrencies and moving to "strengthen our financial foundation." It was unclear how exactly GD Culture Group had secured the funding to buy hundreds of millions of dollars of crypto. In its statement, the company did not reveal any information about the entity in the British Virgin Islands that agreed to purchase its stock. In its filing with the Securities and Exchange Commission on Tuesday, GD Culture Group confirmed its plans to buy $TRUMP -- but again omitted any information about the entity that is financing the purchase. Historically, the British Virgin Islands has been a favorite jurisdiction for overseas investors seeking to maintain confidentiality, because it is easy to set up a shell company there. This article originally appeared in The New York Times.
Time of India
13-05-2025
- Business
- Time of India
Govt instructs crypto exchanges to monitor J&K transactions amid money laundering concerns
Mumbai: Indian cryptocurrency exchanges have been told by the government to keep an extra eye out for transactions linked to persons located in Jammu & Kashmir and border areas. The Financial Intelligence Unit (FIU-IND), the central agency dedicated to curb money-laundering and financial crimes, communicated this to several local crypto platforms last week, two persons aware of the advisory told ET. Crypto bourses are directed to particularly watch out and report trades involving 'private wallets' that allow managing of virtual digital coins without relying on third parties like exchanges or crypto custodians. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Co-Founder of Google Brain, Andrew Ng, Recommends: "These 5 Books Will Turn Your Life Around" Blinkist: Andrew Ng's Reading List Undo If regular banking channels are to be avoided in making payments to dubious actors, terrorists, or their handlers, cryptos, moved from an exchange wallet to a private wallet, can be directly transferred to the private wallet of the payee through a blockchain network. Under the circumstances, exchanges will have to keep tabs on withdrawals from exchange wallets to private wallets as well as deposits from them. Crypto Tracker TOP COIN SETS DeFi Tracker 34.61% Buy AI Tracker 33.29% Buy NFT & Metaverse Tracker 30.81% Buy Web3 Tracker 24.30% Buy Crypto Blue Chip - 5 17.64% Buy TOP COINS (₹) XRP 213 ( 5.04% ) Buy BNB 55,794 ( 0.02% ) Buy Tether 85 ( -0.55% ) Buy Bitcoin 8,707,908 ( -2.34% ) Buy Ethereum 210,276 ( -2.62% ) Buy "As per the instructions, exchanges for the time being would focus more on crypto trades by persons in the border locations and report them to FIU, than the regular STR trades," said a person requesting anonymity due to the confidential nature of the communication. Just as banks share data with FIU, STR, or 'suspicious transaction report', refers to regular filing of information on suspicious trades and activities by crypto exchanges with central body. Did you Know? The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors. View Details » Over the past one year, exchanges have restricted free withdrawals of cryptos, insisting on enhanced due diligence of customers-enquiring about the identity of beneficiaries and the purpose of withdrawals to private wallets. The safeguards, though not fool-proof, have been put in place as it is widely perceived that cryptocurrencies can be used for illicit purposes, thanks to their pseudonymous nature and the relative ease with which they can be moved across borders. Live Events "For instance, privacy coins like Monero or Zcash, which have greater privacy and anonymity, can be misused. Though these coins are not listed on Indian bourses, theoretically, a person can purchase a common and universally accepted crypto like USDT, transfer to its wallet with an exchange outside India, and then swap them for privacy coins before making payments. Such transactions would not leave a trail that Indian law enforcement agencies can track easily," said an industry person. Indeed, ever since Binance, one of the world's largest crypto exchanges, has been registered with FIU-IND, many crypto users have been transferring part of their coin holdings to Binance wallets run from other countries. "Some of the exchanges are allowing coin withdrawals once they verify that the Binance wallet belongs to the customer. But, once cryptos are moved to Binance, they can be transferred, swapped freely, or paid to anyone. Since regulations are unclear and applicability of foreign exchange laws are ambiguous in crytos, platforms find it tough to fully clamp down on such transfers once the account holder ticks the necessary boxes," said a source. Agencies SEBI SEEKS AIF DATA The Securities & Exchange Board of India reached out to trustees of private equity and venture capital funds-also known as alternative investment funds (AIFs)-last Friday to evaluate risks related to "money laundering, terrorist financing and proliferation financing." Among other things, the trustees were told to ask the funds houses whether they had identified the beneficial owners while on-boarding clients. AIFs are required to find out the last natural persons behind entities which own 10% or more in an investor (like companies, partnerships etc). While this could well be part of the usual regulatory drill, large AIFs have been asked to disclose the percentage of 'high-risk customers', 'percentage of clients from countries in the list prepared by the Financial Action Task Force (FATF), the global anti-money laundering body, and proportion of clients on internet-based transactions.
Time of India
10-05-2025
- Business
- Time of India
Wall Street brings the Bitcoin versus Gold clash to ETF masses
The culture clash between Bitcoin enthusiasts and gold bugs is about to be played out in the world of exchange-traded funds. Tidal Financial Group this week filed to launch a pair of long-short trades — pitting the world's biggest cryptocurrency against the shiny metal, and vice versa — offering investors a high-conviction bet on the best alternative hedge, in one fell swoop. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Google Brain Co-Founder Andrew Ng, Recommends: Read These 5 Books And Turn Your Life Around Blinkist: Andrew Ng's Reading List Undo Packaged under the Battleshares brand, the novel exchange-traded funds would monetize the long-running debate about the ultimate store of value for those fearing everything from trade wars and geopolitical stresses to fiscal and monetary largesse. The ideological divide among the retail and institutional masses has raged since Bitcoin was born from the ashes of the 2008 crisis, and it comes just as both assets have surged over the past year on starkly different narratives. Crypto Tracker TOP COIN SETS AI Tracker 23.58% Buy Smart Contract Tracker 21.41% Buy BTC 50 :: ETH 50 18.65% Buy Web3 Tracker 18.64% Buy Crypto Blue Chip - 5 13.33% Buy TOP COINS (₹) BNB 56,647 ( 4.59% ) Buy XRP 203 ( 1.29% ) Buy Ethereum 202,134 ( -0.02% ) Buy Tether 85 ( -0.03% ) Buy Bitcoin 8,855,507 ( -0.25% ) Buy The ETFs would, if launched, use a number of different tools to do so, including short sales of securities, swaps and options, according to paperwork submitted to the US Securities and Exchange Commission. Did you Know? The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors. View Details » Battleshares declined to comment. Live Events 'This is a kind of 'victory' for me,' said Dhaval Joshi, chief strategist at Counterpoint, who has long argued Bitcoin and gold belong to the same 'non-confiscatable' asset class — immune to inflation, capital controls, or seizure. 'Bitcoin will gradually grab market share from gold. So long BTC/short gold should trend higher over time, while short BTC/long gold will trend lower.' Still, the zero-sum proposition has critics. 'It feels gimmicky and unnecessary,' said Brent Donnelly, president of Spectra FX Solutions. 'Most people bullish on Bitcoin are also bullish on gold. These ETFs just add friction to a trade investors could already make by pairing low-cost ETFs like IBIT and GLD,' referring to BlackRock Inc.'s spot Bitcoin ETF and State Street Corp.'s gold fund — both of which have extremely low fees. This year, gold has notched successive records on haven demand as the trade war stoked fears over the safety of US assets, while Bitcoin plunged in the tariff-spurred turmoil in early April in sympathy with risky stocks. Now, as the White House seeks to ink trade agreements, Bitcoin has roared back in an era in which the US government is going all-in on digital finance. 'Bitcoin continues to trade as a risky asset, tracking Nasdaq very closely with a few exceptions,' said Donnelly. 'Gold is more of a 'Sell America' proxy these days.' Regardless of the diverse storylines anchoring both assets, gold and crypto have been touted by wealth managers as diversifying assets that offer insurance against the risk of currency debasement and related cracks in the traditional financial order. These are grand claims and FOMO may be more to do with it. Investors have poured more than $14 billion into four major gold ETFs this year alone and $8 billion has been added to the four top Bitcoin ETFs. Risk Appetite Endures Battleshares, the upstart product manager, has been seeking to seize on the next evolution of pair trading. Thus far, it's only product is Battleshares TSLA vs F ETF (ticker ELON), a long position on Elon Musk's Tesla Inc. paired with a short position on Ford Motor Co., according to its website. Launched in February with a 1.29% expense ratio, the fund has barely nabbed $1 million in assets. The firm has since filed for a slew of such ETFs that seek to employ long-short bets including Coinbase Global Inc. versus Wells Fargo & Co. and Eli Lilly & Co. against Taco Bell-owner Yum! Brands Inc., among others. Battleshares isn't the first to test pair-trading strategies. Increasingly, smaller firms and mainstream Wall Street issuers alike have flooded the market with typically higher-fee ETFs offering souped up securities and derivatives products this year with differing leverage and return profiles. Derivatives-based ETFs, a fast-expanding category that includes single-stock funds that offer juiced up or inverse returns on one company, have boomed since 2019 when US regulators eased constraints for launching new funds. Many of these are popular among the retail-trading crowd whose appetite for risk pushes them to the riskiest corners of the market on the promise of big payouts on volatile moves. Still, risk appetite remains as markets staged a gravity-defying rebound last month. And this week, Bitcoin topped $100,000 on Thursday as gold declined following the Federal Reserve's decision to keep rates steady. The tussle between the two may very well continue but to Charlie Morris of Bytetree Asset Management, Bitcoin should beat gold and take away the latter's market share long term. 'I believe Bitcoin and gold both benefit from this era of macroeconomic uncertainty, but at different times,' said the chief investment officer, whose firm runs BOLD, an exchange-traded product that allocates both to gold and Bitcoin. 'Gold tends to do better when there is geopolitical uncertainty, and Bitcoin when things are going well.'
