Several Chinese state-owned media have made unusual coordinated reports describing cryptocurrencies as the year’s top performing investment. ( read original story …)
BUSINESS
Cryptocurrency helps ship 1 trillion yuan out of China to casinos, gambling every year
At least 1 trillion yuan (US$145.5 billion) worth of funds flows out of China into gambling activities every year, aggravating the country’s economic and financial security risks, according to a … ( read original story…
China’s piggy bank, the National Social Security Fund, set to be among Ant Group’s top IPO investors
China is keen for its pension funds to make savvy investments to help shoulder the burden of providing for its rapidly ageing population in their retirement years. ( read original story …)
Ant Group launches blockchain based-platform to help SMEs with cross-border trade
Ant Group, China’s largest digital payments provider by volume, has launched a blockchain-backed smart contract platform for cross-border trade by small and medium enterprises (SMEs), helping them and … ( read original story …)
Yalla Group Seeks $149 Million U.S. IPO
Yalla Group Limited has filed proposed terms for a $149 million U.S. IPO. The firm operates a voice-centric social network focused on the MENA region. YALA has produced enviable financial results and … ( read…
Ant launches blockchain-based cross-border trade platform ahead of $35 billion IPO
Ant Group, owner of China’s ubiquitous mobile payment app Alipay, launched a blockchain-powered platform for cross-border trade settlements on Friday, as it races to launch more technology products … ( read original story …)
Ant launches blockchain-based cross-border trade platform ahead of $35 bln IPO
Ant Group, owner of China’s ubiquitous mobile payment app Alipay, launched a blockchain-powered platform for cross-border trade settlements on Friday, as it races to launch more technology products … ( read original story …)
Boqii Holding Files For $77 Million IPO
Boqii Holding Limited has filed to raise $77 million in an IPO of its American Depositary Shares [ADSs] representing underlying Class A shares, according to an F-1 reg … ( read original story …)
WeWork sells control of China business in $200m deal
WeWork is selling a majority stake in its China business as the co-working giant continues to pare down its expenses, the company said Wednesday. ( read original story …)
IPO Launch: Yalla Group Targets $149 Million U.S. IPO
Yalla Group Limited (YALA) intends to raise $149 million in an IPO of its American Depositary Shares [ADSs … who was previously manager of ZICT Technology Co and vice president of Beijing Feinno … (…
IPO Launch: Boqii Holding Readies $77 Million U.S. IPO Effort
Shanghai, China-based Boqii was founded to create a social network for ‘pet parents,’ which represents a fast-growing segment of consumers within China. ( read original story …)
Alibaba Fintech Arm Eyes Record IPO With Hong Kong-Shanghai Listing
The financial arm of Chinese e-commerce titan Alibaba is planning the biggest IPO in history, raising as much as $35 billion in a joint listing in Hong Kong and Shanghai, a report said Thursday. And…
Bitcoin dropped back to 10K; China struggles with crypto-traders
Bitcoin confirmed its dependence on the stock market, declining sharply alongside the traditional market on September 21st and remaining under pressure on Thursday morning. The trigger for the stock … ( read original story …)
