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Money Control

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Cryptocurrency | Latest & Breaking News on Cryptocurrency | Photos, Videos, Breaking Stories and Articles on Cryptocurrency

Bitcoin and Ether plunged in value after the launch of Hong Kong-based ETFs yielded lackluster results. Bitcoin fell by 4.04% to Rs 51,12,625.33, while Ethereum dropped 6.25% to Rs 2,51,570.37. Experts remain uncertain about the short-term impact of the recent Bitcoin halving on prices. A survey revealed that 45% of respondents had invested in cryptocurrencies for long-term retirement plans, although financial advisors advise caution. Legislation proposed by Congressman Patrick McHenry to create a regulatory framework for the crypto industry is crucial for its professionalization. Coinbase will face a revived lawsuit by customers, as the US Court of Appeals ruled against the lower court's decision to absolve the company. Bitcoin experienced a 7% drop, falling below the $65,000 mark for the first time in a month. A Pune crypto trader lost Rs 2.5 lakh to a potential employer he met on Twitter, highlighting the risks associated with online job scams. The sentencing hearing of Sam Bankman-Fried demonstrated the consequences of crypto malfeasance, with Bankman-Fried facing 25 years in jail and loss of $11 billion. Indian crypto exchanges experienced a 207% surge in trading volumes in March due to the soaring price of Bitcoin. US CFTC has charged Kucoin with operating an illegal digital asset derivatives exchange. Bitcoin slid 6.5% and Ether dropped 5.1% as investors engaged in profit-taking. Price volatility continued, and the crypto market experienced a pause in its frenzy. The US dollar remained steady against major currencies, awaiting further economic data. Market veterans highlighted the threat that crypto assets pose to capital markets. Bitcoin reached an all-time high of $72,000, further building upon its rally. Mudrex will give Indian crypto investors access to US spot Bitcoin ETFs, becoming the first platform to facilitate this for institutions. Bitcoin rallied for the sixth consecutive day, hitting a new record high of $71,500. The price of Bitcoin rose again after a brief retreat, reaching an intraday peak of $66,540. A look into the growing infrastructure and future of Web3 in India reveals potential for dynamic growth. Bitcoin experienced a retreat after surpassing the $69,000 mark, with a significant plunge to $59,317.16. Bitcoin reached a new all-time high of $69,202, surpassing the previous record in November 2021. An analysis of the Bitcoin rally suggests that inflows into US-listed Bitcoin funds have contributed to its substantial rise.

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Which FAANG company started as a research project at Stanford University?

•   Amazon•   Google•   Netflix•   Apple
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Money Control

Money Control

| 3d

PFC, REC undervalued even after eye-popping rise over last year, say analysts

Power finance stocks REC and PFC have seen a recent rally, driven by strong Q4 earnings and positive sentiment. Despite significant gains, analysts believe that these stocks are still undervalued. Factors such as improving financial strength, increasing power demand, and growth opportunities in the renewable energy sector contribute to a strong investment case. The government's support for power sector companies and initiatives such as the Pradhan Mantri Kusum Yojana and electrification plans further enhance the prospects for REC and PFC. However, the market perception has not fully adjusted due to past high NPAs, but recent improvements and clean-up efforts indicate potential upside in the stocks.

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Money Control

Money Control

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Many nations now seeking friendship with India: Jaishankar

India's External Affairs Minister, S Jaishankar, highlighted India's potential for partnerships with various countries during a gathering focused on 'Viswa Bandhu Bharat'. He stated that amidst conflicts and uncertainties in some nations, many countries were seeking friendship with India. Jaishankar emphasized India's ability to engage with diverse nations including the US, Europe, Russia, Africa, Israel, Gulf countries, and Arab nations. He stated that despite conflicts elsewhere, India could collaborate with all countries to advance its national interests and build global relationships. Jaishankar also discussed government initiatives to enhance global connectivity and increase investment, employment, and connectivity in India.

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Which FAANG company holds the patent for a system that uses natural language processing to generate automated responses to customer inquiries?

•   Apple•   Tesla•   Amazon•   Microsoft
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