TMS Ep574: Crypto exchanges, Hardik Pandya and IPL, auto stocks

Exactly a year after FTX’s collapse, another pillar of the crypto sector is shaking. While the FTX’s Sam Bankman Fried is behind bars, former Binance chief Changpeng Zhao has pleaded guilty to violating US' anti-money laundering laws. So as the Binance conundrum unfolds, it has once again trained the spotlight on concerns around safety and credibility of global exchanges. 

Despite its booms and busts, crypto still holds sway. And young investors swear by it. The only other medium which offers them somewhat similar thrills is IPL. And one of the leading IPL stars, Hardik Pandya, is back into the fold of Mumbai Indians. In our special segment, find out what makes Hardik Pandya so important?

The just-concluded cricket world cup broke all the viewership and advertisement records. Moving on, FADA reported that automobile retail sales also broke all the previous records. Overall automobile sales rose 19% in the 42-day festive period this year as compared with last year. At the bourses, the Nifty Auto index has significantly outperformed the markets by zooming 35% thus far in 2023. As analysts see moderation in demand, will the rally in auto stocks come to a halt? 

Unlike the markets, most cryptocurrencies were trading in red for the last one week till Tuesday. Meanwhile, the world's largest cryptocurrency exchange Binance is in the news. Its former ECO has pleaded guilty for violating US laws. But what are cryptocurrency exchanges? We tell you in this segment of the podcast.