TMS Ep574: Crypto exchanges, Hardik Pandya and IPL, auto stocks
Exactly one year after the collapse of FTX, another pillar of the crypto sector is shaking. While FTX’s Sam Bankman Fried remains behind bars, former Binance chief Changpeng Zhao has pleaded guilty to violating US anti-money laundering laws. So as the Binance conundrum unfolds, it has refocused attention on concerns surrounding the security and credibility of global exchanges.
Despite the peaks and valleys, crypto still has the upper hand. And young investors swear by it. The only other medium that offers them somewhat similar sensations is IPL. And one of the leading IPL stars, Hardik Pandya, is back in the fold of Mumbai Indians. Find out what makes Hardik Pandya so important?
The just concluded Cricket World Cup broke all viewership and advertising records. Speaking further, FADA reported that the car retail sector also broke all previous records. Total car sales increased by 19% during the 42-day festive period this year compared to last year. On the stock markets, the Nifty Auto index has significantly outperformed the markets by rising 35% so far in 2023. As analysts see a moderation in demand, will the auto stock rally come to a halt?
Unlike the markets, most cryptocurrencies traded in the red last week through Tuesday. Meanwhile, the world’s largest cryptocurrency exchange Binance is in the news. The former ECO has pleaded guilty to violating US laws. But what are cryptocurrency exchanges? Listen to this episode of the podcast for answers.
First print: December 1, 2023 | 3:04 am IST