Category Archives: finance

Elon Musk Becomes World’s First Person To Hit $500 Billion Net Worth: Forbes List

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While Tesla’s shares stumbled earlier this year, they are currently on a steady climb. This positive shift has been linked to Elon Musk’s renewed focus on his companies.

Elon Musk, the owner of Tesla, has become the first person to reach a net worth of nearly USD 500 billion. This milestone is credited to a strong rebound in Tesla’s stock and soaring valuations of his other ventures. According to the Forbes Billionaire Index, Musk’s total wealth touched USD 500.1 billion as of 4:15 PM ET on Wednesday, making him the richest individual in the world, far ahead of other business leaders.

Musk’s fortune remains closely tied to Tesla, where he owns a stake of more than 12.4 percent as of mid-September. Despite facing challenges in sales, the electric carmaker’s shares have gained more than 14 percent this year. On Wednesday alone, Tesla stock closed 3.3 percent higher, adding more than USD 6 billion to Musk’s wealth.

Tesla board chair Robyn Denholm recently noted that Musk is now “back front and center” at the company after months of distraction related to his activities at the White House. Supporting this renewed focus, Musk purchased nearly USD 1 billion worth of Tesla shares last month.

Tesla is currently racing to transform itself from a traditional carmaker into a leader in artificial intelligence and robotics. However, the company still faces pressure from weak car sales and shrinking profit margins, which have placed its stock among the laggards of the “Magnificent Seven” tech giants.

In response, Tesla’s board has proposed a USD 1 trillion pay package for Musk. This package ties his rewards to ambitious financial and operational goals, while also granting him the larger stake he has been seeking.

Musk’s growing empire outside Tesla has also fueled his wealth. His artificial intelligence venture, xAI, was valued at USD 75 billion in July, with reports suggesting it could aim for a USD 200 billion valuation in the near future. Musk, however, has denied plans to raise fresh funds for xAI.

Meanwhile, SpaceX, Musk’s rocket company, continues its expansion. Bloomberg News reported in July that SpaceX was considering a funding round that would value the firm at around USD 400 billion.

With Musk’s diversified portfolio and Tesla’s resurgence, his position as the world’s richest individual looks firmly secured for the foreseeable future.
https://www.news18.com/world/elon-musk-becomes-worlds-1st-person-to-hit-500-bn-net-worth-shows-forbes-list-9609384.html

Zepto in final stages of $450M funding at $7B valuation

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**Zepto in Final Stages of $450M Funding at $7B Valuation**

*By Mudit Dube | Oct 01, 2025, 06:07 PM*

Zepto, a leading player in the quick commerce sector, is close to securing $450 million (approximately ₹3,900 crore) in a new funding round, according to sources cited by Moneycontrol. This capital infusion is a strategic move aimed at expanding Zepto’s offerings and scaling its operations amidst intensifying competition.

**Funding Round and Key Investors**

The funding round is being co-led by the California Public Employees’ Retirement System (CalPERS), a prominent US-based pension fund, along with General Catalyst (GC), an existing investor in Zepto. Besides these two, several current investors—including Avenir, Avra, Lightspeed, Glade Brook, The Stepstone Group, and Nexus Venture Partners—are expected to participate to maintain or possibly increase their stakes in the company.

**Valuation Soars to $7 Billion**

With this fresh round, Zepto’s valuation is set to leap to $7 billion, marking a 40% increase from its $5 billion valuation last year. The company’s growth has been propelled by over a 20% rise in order volumes, reflecting strong market demand and operational expansion.

**Use of Funds: Primary Capital and Secondary Deals**

The majority of the funds raised will be primary capital, directly bolstering Zepto’s financial resources to fuel growth initiatives. Additionally, between $70 million and $100 million of the total funding will come from secondary share deals. These involve early investors selling portions of their holdings to new investors, enabling some liquidity for early backers while keeping them engaged through ongoing investments.

**Market Strategy and Competitive Outlook**

Zepto plans to leverage the new capital to boost its spending and increase its market share in the quick commerce space. This comes at a time when the sector’s rapid growth has somewhat cooled, with competitors such as Blinkit (by Eternal) and Instamart (by Swiggy) shifting their focus toward profitable growth.

By strengthening its financial backing, Zepto aims to regain momentum and secure a stronger position in this highly competitive market, responding proactively to evolving industry dynamics.

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*Stay tuned for more updates on Zepto and developments in the quick commerce industry.*
https://www.newsbytesapp.com/news/business/zepto-seeks-450-million-funding-at-7b-valuation/story

USDT issuer Tether buys 8,888 Bitcoin worth $1 billion

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Today, which is also the last day of Q3 2025, Tether added another block of Bitcoin to its reserves. According to market watchdogs, the USDT issuer has moved a cool $1 billion into 8,888.889 BTC, marking one of the largest inflows recorded in 2025 for the stablecoin issuer.

Spotted by Onchain Lens, the transfer went directly from Bitfinex hot wallets to Tether’s reserve address. This move fits into a bigger pattern observable in the on-chain history. Over the past two years, the company that issues USDT has repeatedly moved blocks of Bitcoin worth between $700 million and $1.4 billion into its reserves. This activity often occurs during periods of market tension, which could also be attributed to the current state of the crypto market.

Tether is now the sixth-largest BTC wallet. Since the company announced in May 2023 that it would regularly use 15% of its profits to purchase Bitcoin for reserves, the last time they withdrew BTC was on the last day of Q1 2025. Currently, their BTC reserve address holds 86,335 BTC worth approximately $9.75 billion, maintaining its position as the sixth-largest BTC wallet.

With Q3’s purchase, the amount of Bitcoin on Tether’s balance sheet increased by about 11%, keeping it well ahead of gold and approaching a 10% share. Calculated at the price when they withdrew from the exchange, the average purchase price of these BTC is about $48,542. This means Tether is currently sitting on an unrealized profit of as much as $5.5 billion.

Tether’s $115.2 billion market cap provides unmatched liquidity, enabling institutions to leverage USDT for yield generation and cross-chain transactions. Meanwhile, Tether’s balance sheet shows $127 billion in US Treasuries and $5.47 billion in excess reserves, reinforcing its credibility as a stable financial actor.

As of mid-2025, institutions hold 410,000 BTC through ETFs, representing 33% of US Bitcoin ETF holdings, while public companies hold 725,000 BTC. This amount surpasses the annual supply of new Bitcoin. Meanwhile, the price of BTC remains steady with a slight 0.67% decline, trading at $113,184.07.

**Stablecoins Record Over $45 Billion in Net Inflows**

Stablecoins have recorded over $45 billion in net inflows during the past 90 days. According to on-chain data, Tether’s USDT and Circle’s USDC contributed significantly to this surge. The third quarter alone saw $56.5 billion in stablecoin inflows.

The stablecoin market continues to be dominated by Tether’s USDT, which has seen a net inflow of $19.6 billion. With a market share of about 59%, Tether’s USDT remains the dominant stablecoin in the crypto space.

Tether’s success is not limited to the third quarter. USDT saw an additional $9.2 billion minted in the second quarter. With demand increasing, USDT’s position remains unchallenged by any other stablecoin in the market.

However, USDC’s net issuance surged significantly throughout the quarter. Stablecoin inflows to USDC increased to $12.3 billion, up from $500 million in Q2.

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https://bitcoinethereumnews.com/bitcoin/usdt-issuer-tether-buys-8888-bitcoin-worth-1-billion/?utm_source=rss&utm_medium=rss&utm_campaign=usdt-issuer-tether-buys-8888-bitcoin-worth-1-billion

Bybit and Nexo Launch Tools to Fight $10B Scam Crisis

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With nearly $10 billion lost to scams last year, major crypto platforms are stepping up efforts to protect users. Two of the biggest names, Bybit and Nexo, have each introduced new security tools aimed at mitigating the impact of fraud that continues to plague digital assets.

### Different Tactics, Same Goal

Bybit has focused on the problem of stolen funds flowing into its platform. Rather than waiting for legal action, it has created a private reporting line exclusively for its top-tier clients. This line provides direct access to the exchange’s internal security team. Cases are reviewed around the clock, and accounts can be restricted within hours to preserve evidence before involving the police.

Nexo, on the other hand, is attempting to stop scams at the point of transaction. Its upgraded Anti-Scam Engine operates quietly in the background, analyzing behavior across multiple blockchains. If suspicious activity is detected, clients are prompted to double-check before sending funds. In rare cases, the system can temporarily halt a transfer until it is reviewed.

Currently, Bybit’s reporting portal is reserved for VIP users but may expand to retail traders if testing proves successful. Nexo’s tool is already live on networks including Ethereum, Polygon, BNB Chain, and Arbitrum, with Bitcoin, Solana, Tron, and XRP slated to follow.

### Pressure to Act

Both companies acknowledge that scams are becoming increasingly sophisticated, ranging from romance schemes to pig butchering campaigns that can drag on for months. Regulators have also increased pressure on exchanges to demonstrate their ability to prevent abuse before it results in billion-dollar losses.

David Zong of Bybit stated that the company aims to move faster than law enforcement can. Meanwhile, Elitsa Taskova of Nexo emphasized that protection should feel invisible until it’s needed. Despite differing philosophies, the message is clear: crypto platforms cannot afford to leave their users exposed.

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*The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.*

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**About the Author**
Alex is a reporter at Coindoo with over 8 years of experience in the crypto, blockchain, and fintech industries. An experienced financial journalist and cryptocurrency enthusiast, Alex provides insightful and thought-provoking articles that break down complex topics into clear, accessible content. Follow his publications to stay updated on the latest trends and developments in digital assets.
https://coindoo.com/bybit-and-nexo-launch-tools-to-fight-10b-scam-crisis/

Taiwan Stock Market Due For Support On Monday

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The Taiwan stock market has finished lower in three straight sessions, sinking more than 660 points, or 2.5 percent, during that span. The Taiwan Stock Exchange (TSE) now sits just above the 25,580-point plateau, although it may find traction on Monday.

The global forecast for Asian markets is upbeat, buoyed by an improved outlook for interest rates. European and U.S. markets were up recently, and Asian bourses are expected to open similarly.

On Friday, the TSE finished sharply lower following losses in financial shares, technology stocks, and plastics companies. The index plummeted 443.53 points, or 1.70 percent, to close at 25,580.32 after trading between 25,469.04 and 25,998.28.

Among the active stocks:

– Cathay Financial dropped 0.91 percent
– Mega Financial edged up 0.12 percent
– First Financial sank 0.84 percent
– Fubon Financial dipped 0.16 percent
– E Sun Financial shed 0.45 percent
– Taiwan Semiconductor Manufacturing Company retreated 1.52 percent
– United Microelectronics Corporation rallied 1.24 percent
– Hon Hai Precision plunged 4.57 percent
– Largan Precision declined 1.28 percent
– Catcher Technology tumbled 1.60 percent
– MediaTek tanked 2.60 percent
– Delta Electronics plummeted 4.07 percent
– Novatek Microelectronics slumped 1.36 percent
– Formosa Plastics stumbled 1.29 percent
– Nan Ya Plastics crashed 3.18 percent
– Asia Cement rose 0.13 percent
– CTBC Financial remained unchanged

The lead from Wall Street is positive as major averages opened higher on Friday and spent most of the day in the green. The Dow jumped 299.97 points, or 0.65 percent, to finish at 46,247.29, while the NASDAQ advanced 99.37 points, or 0.44 percent, to close at 22,484.07. The S&P 500 gained 38.98 points, or 0.59 percent, ending at 6,643.70.

For the week, however, the NASDAQ slid 0.7 percent, the S&P 500 fell 0.3 percent, and the Dow dipped 0.2 percent.

The strength on Wall Street reflected a positive reaction to a closely watched Commerce Department report showing consumer prices rose in line with economist estimates in August. The data helped increase confidence that the Federal Reserve will continue lowering interest rates in the coming months.

Crude oil prices advanced on Friday as Russia restricted fuel exports by introducing a partial ban on diesel exports until the end of 2025. West Texas Intermediate (WTI) crude for November delivery was up $0.59, or 0.91 percent, at $65.57 per barrel.

*The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.*
https://www.nasdaq.com/articles/taiwan-stock-market-due-support-monday

Feds Say Detroit Man Fabricated 1,200 Students to Steal $16M

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**Two Detroit Men Charged in Major Federal Student Aid Fraud Scheme**

*By E. Pluribus Unum | September 28, 2025*

Two Detroit men have been charged with defrauding the federal higher education financial aid system, according to an announcement from United States Attorney Jerome Gorgon.

The first complaint charges Brandon Robinson, 41, of Detroit, with wire fraud related to false Federal Student Aid (FSA) claims submitted in the names of other individuals. Between January 2015 and February 2024, Robinson submitted fraudulent FSA claims for more than 1,200 individuals. These claims involved over 100 schools across 24 states.

Robinson’s scheme resulted in the awarding of over $16 million in FSA benefits, with more than $10 million already disbursed. Additionally, the complaint alleges that Robinson filed over 100 fraudulent unemployment insurance (UI) claims between April 2020 and March 2023, causing the disbursement of over $1 million in UI benefits.

Robinson was arrested earlier this week and appeared in federal court this afternoon on the charges. Court documents reveal that Robinson led a years-long scheme to obtain fraudulent Federal Student Aid funds using so-called “straw students” who were enrolled primarily to receive FSA benefits.

The second complaint charges Michelle Hill, 48, also of Detroit, with wire fraud in connection with a separate FSA scheme. Hill was arrested earlier this week and made her initial appearance in federal court.

According to court documents, between July 2015 and July 2025, Hill obtained fraudulent FSA benefits involving more than 80 individuals, mostly enrolled at Wayne County Community College. The complaint alleges that many of these individuals were enrolled in the same or similar degree programs and taking the same or similar online courses.

Furthermore, it is alleged that Hill often completed coursework on behalf of these students to create the appearance that they were progressing toward degrees. This deception served to prolong their eligibility for FSA benefits.

As a result of this elaborate scheme, substantial federal aid funds were fraudulently obtained.

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*Topics:* Crime / Corruption
*Keywords:* Federal Student Aid, Fraud, Wire Fraud, Unemployment Insurance Fraud, Detroit, Wayne County Community College

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**Comments:**

– *E. Pluribus Unum*: Fraud in a federal program??? I don’t think so. Those people are pretty careful with a buck.

– *shelterguy*: Fraud in Medicare & Medicaid will curl your hair. Any doctor or fake doctor can file a claim for fake services rendered.

– *Bobbyvotes*: The FSA is in dire need of a deep-dive audit.

– *lee martell*: Another Robinson.

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*Disclaimer:* Opinions posted on Free Republic are those of individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright.

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https://freerepublic.com/focus/f-news/4343180/posts

WeWork India to launch ₹3,000cr IPO on October 3

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**WeWork India to Launch ₹3,000 Crore IPO on October 3**

*By Dwaipayan Roy | September 28, 2025, 03:12 PM*

WeWork India, a leading player in the co-working space sector, is gearing up to launch its initial public offering (IPO) on October 3, 2025. The issue size is estimated to be around ₹3,000 crore. According to the red herring prospectus (RHP), bidding for anchor investors will open for a day on October 1, with the IPO set to close on October 7.

### IPO Details

The upcoming IPO from WeWork India will be an Offer for Sale (OFS) featuring up to 4.63 crore equity shares. Embassy Buildcon LLP, a promoter group firm, and Ariel Way Tenant Ltd, a subsidiary of WeWork Global, will be selling their shares as part of this offering.

Since it is an OFS, WeWork India will not receive any proceeds from the listing itself. Instead, the offering provides an opportunity for existing shareholders to liquidate a part of their holdings.

### Company Profile

Established in 2017, WeWork India operates under an exclusive license of the ‘WeWork’ brand in India. The company is promoted by Bengaluru-based real estate major Embassy Group. Currently, Embassy Group holds approximately 76.21% stake in WeWork India, while WeWork Global owns 23.45%.

The company has a strong presence across major Tier-1 Indian cities, including Bengaluru, Mumbai, Pune, and Hyderabad, among others.

### Business Scale and Operations

WeWork India manages a substantial 77 lakh square feet of space, out of which around 70 lakh square feet is operational. The company offers a desk capacity exceeding 1.03 lakh and employs more than 500 people.

In January 2024, WeWork India raised ₹500 crore through a rights issue, primarily aimed at reducing debt and supporting its growth plans.

### Market Entry and Future Outlook

The upcoming IPO is expected to not only provide liquidity to existing shareholders but also enhance the company’s visibility in the market. WeWork India aims to create a public market for its shares in India and strengthen its position in the evolving co-working industry.

With the IPO set to close on October 7, WeWork India is likely to make its stock market debut around October 10, 2025.

Stay tuned for more updates on this much-anticipated market entry.
https://www.newsbytesapp.com/news/business/everything-we-know-about-wework-india-s-ipo/story

Which Adani stock should you buy following SEBI’s clean chit?

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**Which Adani Stock Should You Buy Following SEBI’s Clean Chit?**
*By Dwaipayan Roy | Sep 28, 2025, 04:48 PM*

Adani Group stocks have been in the spotlight recently after the Securities and Exchange Board of India (SEBI) cleared all allegations raised by Hindenburg Research back in January 2023. This significant development has bolstered investor confidence, sparking a relief rally that has outperformed the broader market.

On September 22, SEBI gave a clean chit to Adani Ports & Special Economic Zone Ltd and Adani Power Ltd, confirming that these companies did not breach any regulations as claimed by the US-based short-seller Hindenburg. This clearance has reignited interest in Adani Group stocks among investors and analysts alike.

### Investment Advice: Focus on Adani Green

Following SEBI’s clean chit, analysts recommend keeping an eye on **Adani Green** stock. Shiju Kuthupalakkal from Prabhudas Lilladher noted that, from a technical standpoint, Adani Green appears well positioned. The stock recently witnessed a breakout, suggesting potential upside.

Kuthupalakkal expects some consolidation followed by a pullback that could improve the overall bias. He highlighted near-term target prices of ₹1,220, with further strength possibly pushing the stock up to ₹1,360.

### Market Performance Insights from Choice Broking

Hardik Matalia of Choice Broking also sees promising potential in Adani Green shares. The stock is currently trading around ₹1,047 after experiencing a sharp decline of nearly 65% from its swing high.

Despite this significant correction, Adani Green entered a prolonged consolidation phase. Recently, the stock has demonstrated renewed strength, bouncing strongly from its support zones, indicating potential for further gains.

### Conclusion

With SEBI’s clearance alleviating regulatory concerns, Adani Green emerges as a compelling pick among Adani Group stocks. Investors looking for opportunities within the group may consider monitoring Adani Green closely as it shows signs of technical improvement and market resilience.
https://www.newsbytesapp.com/news/business/adani-group-stocks-in-focus-what-analysts-recommend/story

$1.15 Billion Liquidated As Bitcoin And Ether Prices Melt Down

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**Sep 27, 2025 – Market Sees Extreme Turbulence with Over $1.15 Billion Liquidated**

The end of the week was marked by extreme market turbulence, as more than $1.15 billion in leveraged positions were liquidated across major exchanges. This cascade of forced selling primarily impacted traders holding long positions, causing Bitcoin (BTC) and Ethereum (ETH) to break through key support levels.

**Bitcoin and Ethereum Prices Fall Sharply**

Bitcoin briefly dropped below $109,000, falling 2.1% within a 24-hour period. Ethereum experienced an even steeper decline, dropping 3.3% and losing the critical $4,000 support level.

Previously, Coinidol.com reported that Bitcoin was trading within a limited range. The price fell and broke below the established support level of $111,000, which may lead to a further drop to around $107,000.

**Factors Behind the Sharp Correction**

This sudden correction was driven by several factors:

– **Heavy ETF Outflows:** Both Bitcoin and Ethereum spot ETFs recorded significant outflows, signaling a pause in institutional buying after a period of intense activity.

– **On-Chain Signals:** Analysts observed that long-term holders were realizing profits. Additionally, the Crypto Fear & Greed Index dropped sharply to levels not seen since April, indicating extreme investor caution.

– **Leverage Wipeout:** The liquidation event itself was the most immediate cause of the downturn. The forced closure of over $1.15 billion in long bets created massive selling pressure. Most losses occurred on exchanges such as Bybit and the decentralized exchange Hyperliquid.

As the market digests these developments, traders and investors are closely monitoring for signs of stabilization or further volatility in the days ahead.
https://bitcoinethereumnews.com/bitcoin/1-15-billion-liquidated-as-bitcoin-and-ether-prices-melt-down/?utm_source=rss&utm_medium=rss&utm_campaign=1-15-billion-liquidated-as-bitcoin-and-ether-prices-melt-down