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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Live from SF, It’s Tech Week
Hi, welcome to your Weekend.It was the boom-iest of times, it was the doom-iest of times. At least that’s how it feels right now in Dickensian San Francisco, where AI companies are setting up shop on every avenue, while fentanyl dealers are hanging out in every alley. I joke—but seriously, it’s wild out here. No fewer than 17 of the 35 startups listed on The Information’s new Generative AI...
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In November 2021, just as crypto prices were hitting all-time highs, MoonPay—a crypto payments startup that celebrities including Jimmy Fallon and Paris Hilton had praised for its non-fungible token “concierge” service— announced it had completed its first ever outside fundraising: an eye-popping $555 million round at a $3.4 billion valuation from investors including Tiger Global Management and Coatue Management.