Ant Group, the Chinese financial technology company under attack by Chinese regulators, might move its financial business into a holding company that could be regulated like a bank, Bloomberg reported. This would allow Ant to continue operating financial services beyond its payments business, Bloomberg said. On Sunday, Chinese regulators ordered Ant to “return to payment origins” and rectify...
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Bitcoin After Inflation; Games Build Bridge to DeFi
Bitcoin prices got a lift after the Federal Reserve said on Wednesday that it was keeping interest rates near zero on Wednesday, despite rising inflation. The cryptocurrency is currently just under $40,000, an increase of 4.1% over the past 24 hours, a sign that at least some investors still see value in bitcoin as an inflation hedge.But Fed Chair Jerome Powell also said at a news conference...
Microsoft Acquires Spending Management Startup Suplari
Facebook’s Revenue Jumps 56% to $29 billion
FTC Chair Claims Big Tech Promote Fraud
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Sequoia Capital vs. Hillhouse: Inside China’s Fiercest Investor Rivalry
Last fall, Sequoia Capital China, the Silicon Valley VC firm’s affiliate led by investor Neil Shen, pledged to invest $400 million in a new funding round for Full Truck Alliance, China’s “Uber for trucks.” Days later, Zhang Lei, the rival head of private-equity giant Hillhouse Capital Group, flew to Nanjing, met Full Truck’s CEO over dinner and arranged a $110 million investment in the same round, according to a person familiar with the matter.