France summons cryptocurrency businesses after kidnappings
Tired of too many ads? go ad free now
Paymium urged the authorities "to immediately adopt measures to reinforce the protection of collaborators of companies in the cryptocurrency ecosystem".
French Interior Minister Bruno Retailleau said he would meet industry professionals later this week to discuss how to prevent future kidnappings and raise risk awareness.
"I will assemble businesspeople working in cryptocurrencies, and we have a few of those in France, at the interior ministry to work with them on their security," Retailleau told the Europe 1/CNews broadcaster,.
Tuesday's incident saw the daughter and grandson of a French cryptocurrency entrepreneur narrowly escape when four masked men attacked a couple and their child in the French capital's 11th district, police sources told AFP.
All three escaped with light injuries and were taken to hospital.
The woman is the daughter of the CEO and co-founder of Paymium, a French cryptocurrency exchange platform.
On Wednesday, the company demanded "immediate protection" against such attacks and welcomed the French minister's initiative.
Paymium, which said it was "extremely saddened" by the incident, added that "media and politicians" had an important role to play in how information about cryptocurrency is handled.
"Misconceptions can easily spread, ranging from supposed wealth to criminal fantasies, unfortunately contributing to fueling misinformation and to creating a climate of insecurity," it said in a statement.
Tuesday's events follow the abduction in January of French crypto boss David Balland and his partner.
Tired of too many ads? go ad free now
Balland, co-founder of the Ledger crypto firm, had his finger cut off by the kidnappers. At least nine suspects have since been detained, including the alleged mastermind.
In May, attackers kidnapped a man to force his crypto-millionaire son to pay a ransom. Police arrested seven people after a raid to free the man.
"We must jointly take measures to protect them," Retailleau said of crypto businesspeople and their families on Wednesday.
"But we will also find the perpetrators wherever they may be, perhaps even abroad," he said.
The interior ministry meeting is scheduled for Friday, officials said.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
13 minutes ago
- Business Standard
Gland Pharma Q1 profit jumps 50% on core growth, Cenexi turnaround
Hyderabad-based Gland Pharma reported a 50 per cent increase in its consolidated net profit year-on-year (Y-o-Y), reaching ₹215 crore for the first quarter of the financial year (Q1FY26). Revenue from operations rose 7 per cent Y-o-Y to ₹1,505 crore. The growth was driven by robust performance in its core business and a successful turnaround at Cenexi, a French pharmaceutical contract development and manufacturing organisation (CDMO) specialising in sterile injectable and lyophilised drug products, which Gland Pharma acquired in 2023. Sequentially, the company's net profit rose by 15 per cent, and revenue increased by 6 per cent. 'We're off to a positive start this year with growth in revenue and a jump in profitability. Our strategic priorities are progressing and we are strengthening our capabilities, adding new capacity, and boosting R&D with complex products and key partnerships,' said Srinivas Sadu, executive chairman, Gland Pharma. 'By enhancing our base business, investing in differentiated products and driving operational efficiencies, we are positioning ourselves for sustained growth. Our focus on adherence to global quality standards and investment in capability building position us to scale further, tap new markets and deliver long-term value,' said Shyamakant Giri, chief executive officer, Gland Pharma. During the quarter, research and development (R&D) expenses stood at ₹46 crore, accounting for 4.4 per cent of revenue. The company launched 12 new molecules in regulated markets, including Colistimethate, Epinephrine, Vancomycin (three new strengths), Liraglutide and Acetaminophen bags. One abbreviated new drug application (ANDA) was filed and nine were approved during the quarter, bringing cumulative US ANDA filings to 372 (325 approved and 47 pending). Its in-house complex pipeline saw six product launches, with three more awaiting approval. Complex injectables remain a key driver of long-term growth, with more products being added to the pipeline. Fifteen products are in co-development (seven under the 505(b)(2) pathway and eight ANDAs), with commercialisation expected to begin in FY28. One ready-to-use (RTU) infusion bag was filed this quarter, bringing the total RTU product filings in the US to 20 (14 approved). Another 10 are in development, targeting a $767 million market. The company expanded its GLP-1 portfolio, launching Liraglutide in the UK and Australia, and is increasing GLP-1/pen/cartridge capacity from 40 million to 140 million units. It also received a good manufacturing practice (GMP) compliance certificate from the Danish Medicines Agency for aseptically prepared powder for injection, infusion and inhalation. The results were announced after market hours. Gland Pharma's stock fell by 0.95 per cent, ending the day's trade at ₹1,962.30 per share on the BSE.
The Hindu
2 hours ago
- The Hindu
Gland Pharma Q1 net surges 50% to ₹216 crore
Gland Pharma reported consolidated net profit rose nearly 50% for the June quarter to ₹215.5 crore from the ₹143.8 crore a year earlier as revenue from all but the key U.S. market increased. The higher net profit came on a more than 7% increase in the revenue from operations to ₹1,505.6 crore (₹1,401.7 crore). Market wise performance numbers showed the Hyderabad-based generic injectable-focused company's revenue from the U.S. declined 2% to ₹744.3 crore (₹762.8 crore). Sales to Canada, Australia and New Zealand (Other Core Markets) increased 65% to ₹73.9 crore (₹44.7 crore), while revenue from Europe went up 29% ₹330.2 crore (₹256.6 crore). In India, sales rose 13% to ₹59.4 crore (₹52.7 crore). Revenue from the Rest of World market increased 5% to ₹297.8 crore (₹284.9 crore). A strong performance in the company's base business and a turnaround at Cenexi, the French firm that Gland acquired a few years ago, were behind the revenue growth and jump in profitability, Executive Chairman Srinivas Sadu said. 'These results show our strategic priorities are progressing. We are strengthening our capabilities, adding new capacity and boosting research and development with complex products and key partnerships,' he said in a release. CEO Shyamakant Giri said, 'by enhancing our base business, investing in differentiated products and driving operational efficiencies, we are positioning ourselves for sustained growth.'
Economic Times
4 hours ago
- Economic Times
Paytm bulk deal: Societe Generale buys over 67 lakh shares worth Rs 720 crore in One 97 Communications
Societe Generale acquired over 67 lakh Paytm shares worth Rs 720 crore as Antfin exited its 5.84% stake. With no Chinese ownership remaining, Paytm's cap table realigns with regulatory norms, potentially boosting investor sentiment. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads French banking behemoth Societe Generale bought over 67 lakh shares worth Rs 720 crore in Paytm parent One 97 Communications via a couple of bulk deals on Tuesday where Ant Group affiliate Antfin (Netherlands) Holding B.V. made a complete exit from the company, selling 5.84% stake that represented over 3.72 crore Generale purchased these shares at a price of Rs 1,067.50 a piece, above the floor price of Rs 1,020. The floor price was at a 5.4% discount over the Monday closing shares closed with 2.3% declines today, settling at Rs 1,053 crore on the was another bulk deal reported where My Asian Opportunities Master Fund LP bought 35 lakh shares worth Rs 374 crore. The shares were purchased at a price of Rs 1,067.50 was the last remaining Chinese shareholder, and now Paytm will no longer have any Chinese ownership."With the long-standing overhang from a major Chinese investor now removed, Paytm's stock could see a positive reaction as ownership concerns ease and supply pressure decreases. Such clean-out trades often provide clarity to the market, allowing investors to refocus on fundamentals and future growth. The exit also aligns the cap table more with regulatory expectations, which could be viewed favourably in the context of Paytm's pending payment aggregator license," said JM Financial 's Sachin the exit of Antfin, Paytm's pre-IPO cap table has seen a near-complete churn. Major early backers, including Alibaba, SoftBank, and Berkshire Hathaway, have all exited fully over the past two years. Elevation Capital (formerly SAIF Partners) now stands as the only significant pre-IPO investor still holding a stake of 15.4% as of June more:One 97 Communications swung to profit in Q1FY26, with consolidated net gain of Rs 122.5 crore against a loss of Rs 839 crore in the year ago period. The company's revenue from operations stood at Rs 1,917 crore, which was up 28% from Rs 1,502 crore reported in the corresponding quarter of the last financial year. One 97 Communication had reported a net loss of Rs 540 crore in Q4FY25 and it was attributable to the owners of the parent.
