Sidhartha Shukla

As cryptocurrency platforms push into stock trading, a brokerage technology startup is preparing to enter a Wall Street business long dominated by major banks: financing trades for hedge funds and other large investment firms.

Jio Platforms Ltd.’s record-breaking upcoming initial public offering is already trading on crypto rails, giving investors a round-the-clock venue to bet on the company’s valuation even before its shares hit local Indian exchanges.

Bitcoin briefly slid below $80,000 for the first time in almost a month, swept up in a broader retreat from risk assets as an AI-led selloff on Wall Street undercut crypto’s attempt to rebuild a bullish tone.

India revised export levies on petrol and diesel for the next fortnight while keeping the duty on aviation turbine fuel unchanged, as the government continues to adjust the charges in line with international energy prices and domestic supply conditions, according to a Thursday circular.

No change has been made to excise duties on petrol and diesel sold in the domestic market.

Despite a decline in crypto trading activities, there is a rising interest in traditional assets among investors. Open interest in real-world asset contracts has increased to $9 billion, claiming 14% of total volume. The transition marks a significant change in the derivatives markets as crypto inroads are being utilized for traditional trading. This shift indicates a maturation of the digital asset space, making it more accessible to mainstream investors.

Wall Street’s embrace of blockchain technology is moving beyond merely creating digital versions of stocks, bonds and money-market funds toward a bigger goal: changing how those assets move through the financial system.

Wall Street's embrace of blockchain technology is moving beyond merely creating digital versions of stocks, bonds and money-market funds toward a bigger goal: changing how those assets move through the financial system.

Bitcoin retreated below $80,000 on Monday as broader risk-off sentiment ahead of a Federal Reserve meeting and concerns over the artificial intelligence trade weighed on cryptocurrencies.

(Bloomberg) -- Bitcoin ( BTC-USD ) retreated below $80,000 on Monday as broader risk-off sentiment ahead of a Federal Reserve meeting and concerns over the artificial intelligence trade weighed on cryptocurrencies.