Why Many Indian Startups Are Considering Reverse Flipping

Why Many Indian Startups Are Considering Reverse Flipping

It is not uncommon that many domestic startups, as well as many corporations, are leaning towards structuring their operations by establishing a holding company overseas, with its wholly-owned subsidiary company incorporated in India. This is known as reverse flipping. The rationale for extending an arm outside the country’s borders by the Indian founders is undertaken for a host of reasons, which mostly include corporate and tax concessions that are offered by the host country.

Alert — If You Trade Crypto On Binance, Consider Yourself Warned

Alert — If You Trade Crypto On Binance Consider Yourself Warned

Late last year, as crypto markets were struggling to regain their footing, the world’s biggest cryptocurrency exchange quietly moved $1.8 billion of collateral meant to back its customers’ stablecoins, putting the assets to other undisclosed uses. They did this without informing their customers. According to blockchain data examined by Forbes, from August 17 to early December–about the same time FTX was imploding–holders of more than $1 billion of crypto known as B-peg USDC tokens were left with no collateral for instruments that Binance claimed would be 100% backed by whichever token they were pegged to. B-peg USDC tokens are digital replicas of USDC, a dollar-pegged stablecoin issued by Boston-based Circle Financial, that exist on blockchains not supported by the firm such as Binance’s proprietary Binance Smart Chain. Each stablecoin is worth one U.S. dollar.

Jet Passenger Killed By Severe Turbulence

Jet Passenger Killed By Severe Turbulence

A business jet that departed a small New England airport Friday afternoon was buffeted by severe turbulence, killing a passenger and forcing the aircraft to divert to Bradley International Airport, officials said Saturday.

France Warned About Chinese Military Activity At Wuhan Lab In 2015

France warned about Chinese Military activity at Wuhan Lab in 2015

The U.S. federal government should have stopped funding research at the Wuhan Institute of Virology in 2015 when China reduced its cooperation with the French in building and operating the lab, according to the leader of an investigation into COVID-19’s origins by the State Department under the Trump administration.