Comprehension
YouTuber Nas Daily in one of his videos named him as the Most Generous Billionaire who wanted to donate all his wealth to charity. But ten months later, ‘[1]’ is no longer a billionaire. He is alleged to have caused massive losses worth $1 billion to investors. Known by his initials, he is the co-founder and former CEO of FTX, one of the biggest cryptocurrency exchange which has recently filed for bankruptcy in the US.
Once a billionaire with an estimated wealth of $26 billion at peak, according to Bloomberg estimates, [1] has seen his wealth been entirely wiped out. [1] studied physics at Massachusetts Institute of Technology (MIT) and traded currencies, futures and exchange-traded funds before moving to crypto trading, setting up [2] in 2017.
[1] teamed up with Gary Wang, a former software engineer at Google and a fellow MIT graduate, to launch FTX in 2019. The company offered trading on crypto tokens and derivatives. At the start of 2022, investors valued FTX and its U.S. operations at $40 billion. [1] transferred $10 billion in customer funds to his hedge fund, [2] without publicly disclosing it, many say this become the reason for collapse of his empire.
[Extracted, with edits and revisions, from “Who is [1], the co-founder of collapsed crypto firm FTX”, Hindustan Times]
Once a billionaire with an estimated wealth of $26 billion at peak, according to Bloomberg estimates, [1] has seen his wealth been entirely wiped out. [1] studied physics at Massachusetts Institute of Technology (MIT) and traded currencies, futures and exchange-traded funds before moving to crypto trading, setting up [2] in 2017.
[1] teamed up with Gary Wang, a former software engineer at Google and a fellow MIT graduate, to launch FTX in 2019. The company offered trading on crypto tokens and derivatives. At the start of 2022, investors valued FTX and its U.S. operations at $40 billion. [1] transferred $10 billion in customer funds to his hedge fund, [2] without publicly disclosing it, many say this become the reason for collapse of his empire.
[Extracted, with edits and revisions, from “Who is [1], the co-founder of collapsed crypto firm FTX”, Hindustan Times]
Question: 1
Which person’s name has been replaced with ‘[1]’ in the passage above?
Which person’s name has been replaced with ‘[1]’ in the passage above?
Updated On: Jul 18, 2024
- Mike Novogratz
- Brian Armstrong
- Changpeng Zhao
- Sam Bankman-Fried
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The Correct Option is D
Solution and Explanation
The correct option is (D):Sam Bankman-Fried .
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Question: 2
Which hedge fund’s name has been replaced with ‘[2]’ in the passage above?
Which hedge fund’s name has been replaced with ‘[2]’ in the passage above?
Updated On: Aug 4, 2024
- BlackRock Advisors
- Alameda Research
- AQR Capital Management
- Man Group
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The Correct Option is B
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The correct option is (B):Alameda Research .
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Question: 3
This person was once named “the world’s youngest self-made female billionaire” by Forbes magazine and is the founder of the company Theranos. What is the name of this person?
This person was once named “the world’s youngest self-made female billionaire” by Forbes magazine and is the founder of the company Theranos. What is the name of this person?
Updated On: Jul 17, 2024
- Elizabeth Holmes
- Eren Ozmen
- Fan Hongwei
- Diane Hendricks
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The Correct Option is A
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The correct option is (A):Elizabeth Holmes .
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Question: 4
The Reserve Bank of India recently announced the launch of ‘Digital Rupee — Wholesale Segment’, a form of which of the following?
The Reserve Bank of India recently announced the launch of ‘Digital Rupee — Wholesale Segment’, a form of which of the following?
Updated On: Jul 18, 2024
- Digi Suvidha
- Virtual Wallet
- Central Bank Digital Currency
- Cyber Rupee
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The Correct Option is C
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The correct option is (C):Central Bank Digital Currency .
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Question: 5
Which of the following technologies does cryptocurrency rely on?
Which of the following technologies does cryptocurrency rely on?
Updated On: Aug 8, 2024
- Cryptography
- Blockchain
- Spectrography
- Both (A) and (B)
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The Correct Option is D
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The correct option is (D):Both (A) and (B) .
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Question: 6
What is the name of the Government of India-owned corporation that mints coins used as legal tender in India?
What is the name of the Government of India-owned corporation that mints coins used as legal tender in India?
Updated On: Aug 16, 2024
- National Institute of Financial Management
- Security Printing and Minting Corporation of India Ltd.
- India Infrastructure Finance Company Ltd.
- National Bank of Agricultural and Rural Development
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The Correct Option is B
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The correct option is (B):Security Printing and Minting Corporation of India Ltd.
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Question: 7
Who was the founder and former chairman of Satyam Computer Services Ltd.,and was sentenced to prison and fined for a corporate governance scam?
Who was the founder and former chairman of Satyam Computer Services Ltd.,and was sentenced to prison and fined for a corporate governance scam?
Updated On: Jul 17, 2024
- Harshad Mehta
- Ketan Parekh
- B. Ramalinga Raju
- Nirav Modi
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The Correct Option is C
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The correct option is (C):B. Ramalinga Raju .
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- From a very early age, I knew that when I grew up, I should be a writer. I had the lonely child's habit of making up stories and holding conversations with imaginary persons, and I think from the very start my literary ambitions were mixed up with the feeling of being isolated and undervalued. I knew that I had a facility with words and a power of facing unpleasant facts, and I felt that this created a sort of private world in which I could get my own back for my failure in everyday life. I wanted to write enormous naturalistic novels with unhappy endings, full of detailed descriptions and arresting similes, and also full of purple passages in which words were used partly for the sake of their sound. I give all this background information because I do not think one can assess a writer's motives without knowing something of his early development.
His subject-matter will be determined by the age he lives in — at least this is true in tumultuous, revolutionary ages like our own — but before he ever begins to write he will have acquired an emotional attitude from which he will never completely escape. It is his job to discipline his temperament, but if he escapes from his early influences altogether, he will have killed his impulse to write. I think there are four great motives for writing, at any rate for writing prose. They are: (i) Sheer egoism: Desire to seem clever, to be talked about, to be remembered after death, to get your own back on grown-ups who snubbed you in childhood; (ii) Aesthetic enthusiasm: Desire to share an experience which one feels is valuable and ought not to be missed (iii) Historical impulse: Desire to see things as they are, to find out true facts and store them up for the use of posterity (iv) Political purpose: Desire to push the world in a certain direction, to alter other people's idea of the kind of society that they should strive after.
[Extracted with edits from George Orwell's "Why I Write"]- CLAT - 2025
- Reading Comprehension
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(Extract with edits from "The right kind of Education" by J. Krishna Murti)- CLAT - 2025
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There is only one method of attaining knowledge. It is by concentration. The very essence of education is concentration of mind. From the lowest to the highest man, all have to use the same method to attain knowledge. The chemist who works in the laboratory concentrates on elements to analyze them. Knowledge is acquired by concentration.
[Extracted with edits from "Education" by Swami Vivekananda]- CLAT - 2025
- Reading Comprehension
- Punctually at midday, he opened his bag and spread out his professional equipment, which consisted of a dozen cowrie shells, a square piece of cloth with obscure mystic charts on it, a notebook, and a bundle of palmyra writing. His forehead was dazzling with sacred ash and vermilion, and his eyes sparkled with a sharp, abnormal gleam which was really an outcome of a continual searching look for customers, but which his simple clients took to be a prophetic light and felt comforted. The power of his eyes was considerably enhanced by their position placed as they were between the painted forehead and the dark whiskers which streamed down his cheeks: even a half-wit's eyes would sparkle in such a setting. People were attracted to him as bees are attracted to cosmos or dahlia stalks, He sat under the boughs of a spreading tamarind tree which flanked a path running through the town hall park, It was a remarkable place in many ways: a surging crowd was always moving up and down this narrow road morning till night. A variety of trades and occupations was represented all along its way: medicine sellers, sellers of stolen hardware and junk, magicians, and, above all, an auctioneer of cheap cloth, who created enough din all day to attract the whole town. Next to him in vociferousness came a vendor of fried groundnut, who gave his ware a fancy name each day, calling it "Bombay Ice Cream" one day, and on the next "Delhi Almond," and on the third "Raja's Delicacy," and so on and so forth, and people flocked to him. A considerable portion of this crowd dallied before the astrologer too. The astrologer transacted his business by the light of a flare which crackled and smoked up above the groundnut heap nearby.
(Extracted with edits from "An Astrologer's Day" by R.K. Narayan)- CLAT - 2025
- Reading Comprehension
- The "Nari Shakti Vandan Adhiniyam", 2023 Act received near-unanimous support in both the Lok Sabha and the Rajya Sabha. The legislation mandates the reservation of one-third of all seats in the Lok Sabha, state legislative assemblies, and Delhi (as a union territory with an elected assembly) for women. This linking of the implementation of the Act to the implementing of two long-term exercises of census and delimitation, makes little sense to many, and sounds quite like empowerment delayed for now.
In a 2012 article 'Holding Up Half the Sky: Reservations for Women in India', Rudolf C Heredia breaks down the common misconceptions that cloud our understanding of women's political participation- "When women do attain a national leadership role it is often because they have inherited the mantle from their fathers ophusbands, rather than as persons in their own right and are then projected as matriarchs, part of the joint family, complementary to the patriarchy rather than a challenge to it."
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- National Affairs
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