In addition, the lawsuit alleged that Nexo engaged in the unregistered purchase and sale of securities and commodities through its virtual currency trading platform called "the Nexo Exchange", and misled investors by falsely representing that it was in compliance with applicable laws and regulations.
While locals mostly welcomed the project, there was a decent amount of people who objected to Tesla establishing a factory at the location due to the impact on the local environment and especially on the drinkable water supply.
Crypto lenders including Voyager boomed during the COVID-19 pandemic, luring depositors with high interest rates and easy access to loans rarely offered by traditional banks. However, the slump in crypto markets has hurt crypto companies and investors.
Ecommerce companies contributed to a mere 4% of total warehousing leasing in the first half of 2022, down from 23% in the first half of last year, data from property consultancy firm Colliers shows.
“The company continues to grow 40% annually as projected earlier internally. This financial year ending March 2023, the company is expected to generate sales of $1.5 billion (net of discounts),” said one of the people cited above. ET had reported that it became the second vertical ecommerce player to have crossed gross sales of $1 billion in FY21.
The draft will become a law after the Tamil Nadu Governor signs it in deference to the Cabinet's decision. The government will then notify the date on which it will take effect.
As telcos in India gear up to launch 5G services, it will not only give us faster communication networks but will have a cascading impact on multiple other sectors which need fast, low latency, reliable networks to function. This will in turn lead to a surge in demand for skilled talent.
