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Raja Krishnamoorthi to be showcased at DNC

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PHILADELPHIA (Diya TV) — Illinois-based Indian-American businessman Raja Krishnamoorthi, who is currently a Democratic candidate for the U.S. House of Representatives, will be introduced at Wednesday’s Democratic National Convention as one of the party’s emerging leaders.

Krishnamoorthi and Stephanie Murphy from Florida are the only two congressional candidates who have been invited to take centerstage at the DNC. Krishnamoorthi won his primary election back in March in his home state, and was endorsed by President Obama last month.

“As the son of immigrants who worked their way into the middle-class, Raja understands both the challenges facing America’s working families and the opportunities their work make possible,” Obama said in his endorsement.

He has additionally been endorsed by top Democrats such as Nancy Pelosi, former Speaker of the House.

Krishnamoorthi is preparing to square off against Republican Peter DiCianni in November’s general election — considered a heavy favorite for election, he has raised $1.6 million more in campaign funds than his closest opponent. DiCianni ran unopposed in March’s Republican primary. If elected, Krishnamoorthi would join fellow Indian-American Ami Bera, D-CA, in Congress beginning Jan. 2017.

The 42-year-old was born in Delhi and grew up in Peoria, Illinois. He served as policy director of President Obama’s 2004 Senate campaign, as well as deputy treasurer of Illinois from 2007 through 2009. In 2010, he ran unsuccessfully for the Democratic nomination of Illinois State Comptroller, losing to David E. Miller by less than one percent of the vote.

Krishnamoorthi is the co-founder of InSPIRE, a non-profit organization that provides training to Illinois students and veterans in solar technology and was formerly Vice-Chairman of the Illinois Innovation Council, whose mission is to promote innovative technologies that support economic growth and job creation in Illinois.

“I am someone who believes very much in entrepreneurship and helping small businesses to grow because I believe that they are at the heart of economy,” he was quoted as saying earlier this year.

The eighth Congressional district has a strong presence of Asian-Americans with a sizable population of Indian-Americans.

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FTX’s Nishad Singh got $543 million loan

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More fallout from the FTX cryptocurrency platform collapse. Court documents show its affiliate Alameda Research loaned executives like Sam Bankman Fried $1 billion and more than $500 million to Indian American Nishad Singh, FTX’s top engineer. FTX’s interim CEO says never in his career has he seen such complete failure of corporate controls and a complete absence of trustworthy financial information. The company filed for Chapter 11 bankruptcy after it was unable to come up with customer funds.

Elizabeth Holmes was sentenced to more than 11 years in prison after her conviction in January for defrauding investors while running the failed blood testing start up Theranos.In her trial, Holmes alleged she was in the midst of a decade-long abusive relationship with her then-boyfriend and Theranos COO Ramesh “Sunny” Balwani. The Indian American was also found guilty for his role in this fraud and will be sentenced later.

Starting next month, India will assume the G20 presidency for a year and chair more than 200 meetings, leading the way for global economic growth. Prime Minister Narendra Modi said his country’s leadership here will be inclusive, ambitious, and decisive.

Ravi Kapur contributed to this report.

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Arvind Venkat & Tarik Khan win Pennsylvania State seats

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WASHINGTON D.C. (Diya TV) – Looking back at the midterm elections, Arvind Venkat and Tarik Khan made history as the first South Asian Americans elected to the Pennsylvania State Legislature. Advocacy group Indian American Impact played a major role on the ground, saying it trained and mobilized 200 volunteers to go door-to-door, to engage voters and provide info they needed to elect new leadership.

After 35 years, the Nancy Pelosi era is officially coming to an end. The speaker from San Francisco announced she’s bowing out of leadership, but will retain her House seat. The midterms cost Pelosi’s Democratic party the House and effectively ended her speakership.

Two former Indian American executives at Meta Platforms will launch a new non fungible token start up for creators. Kirthiga Reddy and Saurabh Doshi have raised more than $8 million for their new company called Virtualness. But they are facing headwinds as the FTX cryptocurrency exchange collapse is putting pressure on the entire industry.

Ravi Kapur contributed to this report.

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Meet FTX insider Nishad Singh

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SAN FRANCISCO (Diya TV) – The controversy around failed cryptocurrency exchange FTX continues to captivate the world. Part of the scrutiny is now on the people involved, including Indian American Nishad Singh. According to new reports, this techie was part of FTX’s inner circle, which lived together and ran the cryptocurrency empire from the Bahamas. The software engineer was also reportedly aware that FTX secretly transferred customer funds worth billions of dollars to its sister firm Alameda Research. Currently, no one is facing any criminal charges. Diya TV featured Singh more than a decade ago for running ultra marathons as a 17 year old getting ready for college. 

Former President Donald Trump has officially announced he is running for president in 2024, marking his third bid for the White House. Trump had been hinting at this announcement for months, as the embattled former president faces multiple criminal and civil litigations and as his party is grappling with a worse than expected showing in the midterm elections. 

At the G20 Summit in Bali, world leaders including Indian Prime Minister Narendra Modi and U.S. President Joe Biden are coming together to condemn the rising threat of nuclear weapons as Russia’s war against Ukraine continues to raise tension and anxiety around the world.

Ravi Kapur contributed to this report.

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