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Ant International plans to apply for stablecoin licenses in Hong Kong and Singapore, signaling growing fintech interest in regulated crypto payment systems, Bloomberg reported. Ant International reportedly plans to apply for stablecoin issuer licenses in Singapore and Hong Kong, signaling growing institutional cryptocurrency adoption among fintech firms. Ant International, a Singapore-based unit of the Jack…
“Alibaba’s Jack Ma spotted in Japan after China crackdown: report” Jack Ma, the billionaire founder of e-commerce giant Alibaba who rose to become one of China’s richest people, has been living in Japan for the past six months after disappearing from public view amid Beijing’s crackdown on tech companies, according to a report. Ma has…
“Rumors of Jack Ma’s ‘arrest’ cost Alibaba $26 billion” Alibaba co-founder Jack Ma’s rumored arrest — which later turned out to be false — sent shares of the company falling by as much as 10% within minutes on Tuesday morning and cost the firm $26 billion in value. The billionaire Ma has scarcely been seen…
“Nets owner Joe Tsai reportedly tried to get Daryl Morey fired” Brooklyn Nets owner Joe Tsai lobbied to have former Houston Rockets general manager Daryl Morey fired over his controversial 2019 tweet supporting democracy in Hong Kong, a new report claims. Tsai, the Taiwanese-born billionaire who made his fortune as Jack Ma’s right-hand man when…
“#Jack Ma spotted on his superyacht amid China fallout” Alibaba Group founder Jack Ma was on the Spanish island of Mallorca where his luxury yacht is anchored, two Spanish newspapers said on Wednesday, on his first trip abroad since he fell out with China’s regulators in 2020. The Chinese billionaire has largely been out of public view since he…
“# Alibaba launches NFT marketplace for copyright trading ” Chinese multinational e-commerce firm, Alibaba Group Holding, has launched a new nonfungible tokens (NFTs) marketplace allowing trademark holders to sell tokenized licenses to their intellectual property. The new NFT marketplace, dubbed “Blockchain Digital Copyright and Asset-Trade,” can be accessed via Alibaba’s Auction platform. NFTs launched via…
“#Alibaba’s Joe Tsai gets to party but China punishes Jack Ma” Nobody knew until last month that Joseph Chung-Hsin Tsai — better known as Joe Tsai — was the “mystery buyer” who dropped $157 million this spring on two massive condos at 220 Central Park South, the most expensive apartment building in the country. So…
“# Ant Group highlights private sector’s role in developing digital yuan ” Major Chinese tech and commerce firms are starting to open up regarding their involvement in developing the digital yuan. Ant Group and Tencent Holdings revealed the extent of their collaboration with the People’s Bank of China in developing the digital yuan at the…
“#Alibaba shares rise 6% in premarket trading after $2.8B fine” Shares of Alibaba rose 6 percent in premarket trading in the US after the e-commerce giant was fined $2.8 billion by Chinese regulators as a result of an anti-monopoly investigation. Alibaba’s Hong Kong-listed shares closed 6.5 percent higher on Monday. Chinese regulators launched an anti-monopoly…
“#China asks Alibaba to sell off media assets: report” China’s government has asked Jack Ma’s Alibaba Group to shed its media assets as officials there grow increasingly concerned about the tech giant’s impact on public opinion in the country, according to a new report. Talks started earlier this year after Chinese regulators reviewed a list…