FTX Betting Big on India Through Investments and Hirings

FTX is hiring talent in India and is also looking to invest in Indian startups.

Crypto exchange FTX has set its sights on making India one of its prime locations for investments and talent.

As per a report by TechCrunch, the exchange may invest in Mobile Premier League (MPL) which is in talks with a number of investors to raise capital.

Sources revealed that the mobile fantasy game wishes to step into Web3 space. In recent weeks, it has informed some existing and new potential investors that it plans to launch play-to-earn and NFT-based games later this year.

MPLs competitor Dream11 is also looking to lead a $100 million investment in NFT startup Rario.

FTX already has a presence among the crypto community of India but now it is betting bigger.

The exchange has also partnered with the Superteam DAO led by Tanmay Bhat and Akshay BD. They host the job board for FTX’s India’s hirings. Further, they have even conducted a podcast with Sam Bankman Fried, the founder of FTX.

India has implemented its new crypto tax regime. According to these rules, any gains made in crypto will be taxed at a flat rate of 30% with no deductions allowed except for the cost of acquisition. However, the Government has taken a different view of NFTs. It is yet to bring clarity over it. NFTs are not covered under the present tax regime. That’s why many Indian Web2 companies may be looking to enter Web3 through NFTs.

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