China’s government wants to break up Ant Group’s Alipay mobile app and make the Chinese financial technology giant create a separate app for its lending businesses, the Financial Times reported. Alipay, China’s biggest mobile payment app, offers a wide range of features including Huabei, a virtual credit card service, and Jiebei, which offers small loans. Chinese regulators now want Ant to...
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Why the CFTC’s Binance Lawsuit Is Good News for Coinbase
Privately held crypto exchanges are setting new lows in corporate governance. If you thought the initial bankruptcy filing for Sam Bankman-Fried’s FTX was stunning in what it revealed about how that company was run, check out the Commodity Futures Trading Commissions lawsuit against Binance today. Here’s a business empire controlled by one person, Changpeng Zhao, which has no board of directors...
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