General Catalyst pumps $7 million in venture funding round of Crypto startup Jadu, which has made millions of dollars selling pixelated NFT jetpacks and hoverboards, with additional funding from Coinbase Ventures, The VR Fund, Sound Ventures and Guy Oseary, among others. Jadu CEO Asad J. Malik says that appetite for NFTs is overwhelming, but that they're focused on building their broader platform.

Edelweiss Asset Reconstruction Company (ARC) has decided to raise its investments in retail bad loans to ₹1,000 crore (to double) as defaults are expected to grow and the prospects of a quick recovery in this segment are better than in corporate loans, which wind up in National Company Law Tribunal proceedings. Edelweiss ARC has retail assets under management of ₹1,800 crores.

After US consumer implied consumer petroleum demand surged to a record high in the world's top oil consumer, the oil prices witnessed an increase even as the Omicron variant of coronavirus threatens to dent oil consumption globally. Brent crude oil futures surged by 80 cents, or 1.1%, to $74.68 a barrel by 0116 GMT, while U.S. West Texas Intermediate crude futures raised by 88 cents.

Akasa and Jet Airways 2.0, the two new airlines to be launched early next year, is expected to have an immediate impact on airfares in certain sectors, though it is likely to disrupt the market only in the next two to three years when these airlines increase their scale. Akasa has placed an order for 72 Boeing 737-8 Max aircraft for $9 billion.

According to a statement on Wednesday, the former U.S. Marine and 2018 candidate for South Carolina governor John Warren has started Gem Mining, a 92% carbon-neutral bitcoin mining company, after raising over $200 million in institutional capital. The company said it mined 431 bitcoins in the past nine months and has been profitable since February.

CMS Info Systems, India's largest cash management company, has decided to launch its debut public offer for subscription on December 21, 2021. On December 16, the price band and lot size for the offer will be declared. The issue will close on December 23. Anchor book, if any, will open for bidding for a day on December 20. Link Intime India is the registrar to the IPO.

According to some data, the hedge funds offering a more diverse portfolio of cryptocurrencies got a leg up on Bitcoin last month after the world’s largest cryptocurrency started to fall from an all-time high. Hedge funds focused on crypto showed a fall of roughly 2% in Nov. The Eurekahedge Crypto-Currency Hedge Fund index, made of 18 equal-weighted members, is up 170% the year ended November.

As investors await the outcome of a pivotal Federal Reserve meeting Wednesday afternoon, Bitcoin trades sideways. Facing macroeconomic uncertainties, bitcoin has fallen more than 30% from its all-time high of $68,991 in Nov. Ether is down more than 20% from its record high of $4,865.6. According to LaValle, if the Fed turns less hawkish than the market expected, major cryptocurrencies might rally.

Supriya Lifescience, a pharmaceutical company, has raised Rs 315 crore from 18 anchor investors on December 15, a day before the opening of its initial public offering. On December 16, the company will open its IPO for the subscription. The offer will close on December 20, 2021. It is planning to raise Rs 700 crore through its initial public offering.

Gautam Adani-led Adani Ports and Logistics inked a share purchase agreement today with Adani Transmission Limited for divestment of a 100 per cent equity stake in MPSEZ Utilities Limited. MUL's revenue for the financial year 2020-21 stood at ₹203.31 crores. The sale process will be completed within 25 days, subject to the completion of other conditions precedent as per the agreement.

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The founder of mortgage financier Indiabulls Housing Finance, Sameer Gehlaut, will sell an 11.9 per cent stake in the company via a block window deal. The company had claimed that he has resigned from the post as he would focus on the business of providing technology-enabled transaction finance and primary healthcare services by Dhani Services Limited.

1️⃣It will be more energy-efficient; Transitioning to a proof of stake (PoS) model, far more environmentally friendly. 2️⃣It will be faster; The network could potentially handle up to 100,000 transactions/second. 3️⃣Its dApps give it more room to grow; The Ethereum blockchain is not only home to its native token, but it also hosts various decentralized applications (dApps).

iTrustCapital has announced it is integrating with Fireblocks, the digital asset businesses provider. While providing an enhanced level of security for customers, the move will enable iTrustCapital to expand the custody of client assets and introduce new products and services across the decentralised finance stack. The company attracted over $2.2bn in assets since its inception.

Wipro Ltd announced that it has inked an agreement to acquire LeanSwift Solutions, a Florida, US-headquartered system integrator, to bolster its cloud capabilities. The acquisition aligns with Wipro’s strategy to invest and expand its cloud transformation business through Wipro FullStride Cloud Services. The acquisition is expected to close before the end of the quarter ended 31 March 2022.