According to the government's Vahan dashboard, Ola Electric has dropped to fourth place in terms of EV registrations in June 2022, just months after taking the top spot. It registered a 36.5% drop to 5,874 EV registration for June 2022 from 9,255 registrations in May 2022 and less than half of 12,703 registrations in April 2022, the month it became the top electric vehicle maker in the country.

The SEC has received a fresh application from New York-based wealth manager VanEck seeking approval for its spot bitcoin ETF. Market manipulation & consumer protection concerns are the main reasons behind the regulator’s rejection of spot bitcoin ETF applications. VanEck has cited a few reasons why SEC should approve its physically-backed ETF this time around.

Three Arrows Capital, the financially embattled crypto hedge fund, has filed for Chapter 15 bankruptcy in New York City, United States, to protect its US assets while liquidation is carried out in the British Virgin Islands, where a court permitted Teneo Restructuring to carry out the process. Long-term friends Su Zhu and Kyle Davies founded Three Arrows Capital.

After the Terra network crash, the crypto space had to face many hurdles in the past few months. Meanwhile, the FTX CEO continues to buy crypto companies while many projects are eyeing capital injection. The CEO of FTX is almost ready to buy BlockFi for just $25 million. However, a lot of crypto enthusiasts believe Sam Bankman-Fried is taking advantage of the decentralised nature of the currency.

The Foreign Portfolio Investors pulled out ₹811 crores on July 1, 2022, with a huge outflow recorded in the equities and debt-VRR market. FPI outflow totalled 261 crores in the equities market and 372 crores in the debt-VRR market, respectively. In the meantime, the debt market saw a 186 crore outflow. This was not the case, though, with FPIs investing $8 crore in the hybrid market on Friday.

The shares of Gujarat Gas Limited have rebounded significantly by 4.81 % from its 52-week low and are currently trading at a discount of 46% to its 52-week-high Owing to this, the brokerage house ICICI Securities is bullish on the stock and has put a ‘buy’ tag with a target price of ₹566, which represents a potential gain of 33% from the current price.

On Saturday, the fintech firm Lendingkart stated that it has secured debt funding of Rs 75 crore from GMO LLC and Triodos Investment. The freshly raised debt funding will be deployed to originate MSME (micro, small and medium enterprises) loans across all states with credit decisions in a live environment using in-house built origination engine ‘xlr8’ and ‘zero touch’ features.

Domestic brokerage firm Kotak Securities is bearish on the shares of Mangalore Refinery & Petrochemicals. The brokerage maintains a ‘sell’ rating with a target price of Rs 69 against Rs 56 earlier. It added, “MRPL made significant investments towards expansion and modernization of its refinery between FY12-15. Despite this, the company failed to improve its financial performance.”

An MoU has been signed between the public sector Indian Bank and the Government of Haryana for the distribution of mobile phones to consumers through an e-unified payment interface system. Via the deal, the lender would provide e-upi coupons to beneficiaries. Under the initiative, a mobile distribution melas would be organised by the bank in Haryana.

Indira Kempis, a senator in the Mexican federal government, has put out a proposal that, if it is approved, would include Bitcoin as legal tender under Mexican law. In April last year, Kempis proposed two law changes to the assembly, but neither mentioned Bitcoin nor any other digital assets. The bill's provisions are based on the obstacle Mexicans face in gaining access to financial products.

Meta has finally decided to stop its crypto wallet app Novi and has urged its users to withdraw funds from the platform as soon as possible. The deposit/withdrawal feature of the app will be disabled for the users from July 21st onwards. However, the company will still pursue its metaverse initiative. Novi was piloted with the help of Coinbase as a custodial partner in October 2021.

The Seychelles-based cryptocurrency exchange Huobi last week stated that it was mulling over job cuts by more than 30% of the existing workforce. The exchange’s revenue fell sharply after the company removed Chinese user accounts, forcing the company to undergo layoffs. In another major jolt, the exchange’s founder Li Lin is reportedly eyeing an exit from the company.

U.S. economist and well-known cryptocurrency sceptic Peter Schiff’s Euro Pacific International Bank which he formed in Puerto Rico, is under an ongoing probe and the authorities have temporarily halted the bank’s activities. In this connection, Peter Schiff stated that he plans to fight to be allowed to sell the bank. In the year 2017, the bank received a license to operate in the United States.

Sundaram Home Finance Limited has revised its interest rates on this deposit scheme effective July 1, 2022. Its schemes are rated AAA (Stable) by ICRA and offer guaranteed returns. At present, the company offers a monthly interest rate of 6.61% under the regular income scheme on 36-month deposits, 6.96% on 48-month deposits, and 6.96% on 60-month deposits.

Log9 Materials, an advanced battery technology startup announced on Friday that it has showcased a wide range of electric vehicles for last-mile delivery at the ongoing Green Vehicle Expo 2022 in Bengaluru. The vehicles that we displayed at the annual event were powered by the company's InstaCharged batteries. Log9 Materials said that it showcased 2-wheelers, 3-wheelers as well as 4-wheelers.