Ant Group mulls Paytm stake sale

Hello,

Tighter regulation of crypto?

Officials from the finance ministry as well as bankers from G20 countries are seemingly building consensus on the need for greater regulation of cryptocurrency and, possibly, a complete ban. 

Tired of watching finance influencers, or fin-fluencers, peddling misinformation on social media? The Securities and Exchange Board of India (SEBI) will publish a discussion paper to frame guidelines to control unsolicited financial and stock market advice from social media influencers as also from unregulated investment advisers.

In other news, the mystery surrounding the huge iron ball found on a Japanese beach has been solved. It turns out that the ball is just scrap metal–likely a buoy once used to anchor a ship.

ICYMI: Travelling to the most remote places of the world for some peace and quiet sounds like a dream for many. However, if you are worried about getting lost in the wilderness, then rest assured. British rugged phonemaker Bullitt is adding emergency-response satellite tech into a Motorola-branded Bluetooth keychain accessory.

And here’s a list of clothes and accessories that can potentially protect you from surveillance. Fair warning–some of these items can make you look like background dancers from music videos released in the 80s. 

In today’s newsletter, we will talk about 

• Ant Group mulls Paytm stake sale
• Asia’s largest offshore gaming hub
• Making delivery e-vehicles safer 

Here’s your trivia for today: NASA launched its TESS mission in 2018. What is it looking for?

Fintech 

Ant Group mulls Paytm stake sale

Jack Ma-backed Ant Group is reportedly considering selling some of its shares in fintech company Paytm to keep its shareholding within the prescribed limit.

Ant Group, the financial services subsidiary of Alibaba, has been discussing options to reduce its stake in Paytm parent One97 Communications after its share percentage increased passively due to share buybacks, according to Bloomberg.

Offloading:

• One97 Communications announced a share buyback of as much as Rs 850 crore in December.
• Ant Group held a 24.86% stake in One97 Communications as of December, but its holdings rose above 25% after the share buyback reduced the number of outstanding shares.
• Separately, Airtel is in early talks to fold its payments bank with Paytm Payments Bank as well as pick some stake in One97.

Leisure 

Asia’s largest offshore gaming destination

Conceived in 2012 by Jayedv Mody, the Deltin Group opened the floating casino Deltin Royale for guests in 2013. While the Mandovi River in Goa houses six casinos (three of which are owned and managed by the Deltin Group), Deltin Royale stands out from the crowd. YS Life takes a sneak peek. 

Jackpot:

• With an average footfall of 400-500 people every day, the pulse inside Asia’s largest offshore gaming destination Deltin Royale is like any other casino. 
• The floating casino is spread across 50,000 sq.ft. and five decks, offering close to 1,000 gaming positions.
• On offer are Indian flush or teen patti, roulette, Texas hold’em poker, baccarat, blackjack, casino war, 7 up 7 down, 3-card poker, 5-card poker, mini flush, andar bahar, money wheel, texas house poker, and dragon tiger, among others. 

Electric vehicle

Making delivery e-vehicles safer 

Around 10% of all accidents in India happen due to overloading, according to the Ministry of Road, Transport, and Highways. So whether it is the milkman carrying extra milk cans on their bikes or grocery delivery agents adding dangerous levels of extra load to maximise revenue, India has a serious problem of jugaad.

Founded by Jayesh Tope, Pritesh Mahajan, and Pushkaraj Narendra Salunke, Revamp Moto offers electric two-wheelers adapted with Modular Utility Platforms.  

Share the load:

• Revamp Moto’s batteries can be swapped or charged at home. Tope says they are portable, meaning they can be charged separately or in the vehicle. It has a charging time of three to four hours. 
• RM Buddy is a low-speed EV with five different attachments for different daily needs. It has a range of 70 km and 120 kg of payload capacity. The second vehicle, RM Mitra, is an all-electric bike with a range of 130-140 km and a payload capacity of 200 kg. 
• The company’s patented swappable accessory modules enable users to carry crates, milk cans, food delivery bags, parcel bags, huge boxes, water cans, etc.

News & updates

• AI gold rush: Meta Platforms said it was releasing to researchers a new large language model, the core software of a new artificial intelligence system, heating up an AI arms race as Big Tech companies rush to integrate the technology into their products and impress investors.
• Big Freeze: Swaths of California were doused in white this week as a historic storm cast much of the United States in a bitter chill–and forecasters say there’s more frosty weather in store.
• Metaverse court: A Colombian court this month hosted its first legal trial in the metaverse, and now hopes to experiment again with virtual reality, authorities told Reuters.

NASA launched its TESS mission in 2018. What is it looking for?

Answer: Exoplanets.  One of the most recent discoveries made possible by NASA’s Transiting Exoplanet Survey Satellite, or TESS, has been the TOI 5205b, or the “forbidden planet” located about 280 light years from Earth. 

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