Alibaba reports Q1 revenue up 7% YoY to ~$32.8B, below $33B est., and net income up 279% to ~$1.7B, partly due to its equity investment gains; BABA drops 5%+
Crypto Sentiment Shifts Cissy Zhou / Nikkei Asia : Alibaba's Q1 revenue falls short as international e-commerce falters Bill McColl / Yahoo Finance : Alibaba Misses Forecasts on Chinese Consumer Slowd...
Sources: Trump plans an EO to elevate crypto to a national imperative or priority and create a crypto advisory council to advocate for industry priorities
As Crypto Experts Push For Stockpile On Day One Gustaf Kilander / The Independent : A crypto council? Trump plans to make cryptocurrency a national priority with executive order Ronaldo Marquez / News...
Dealogic: foreign capital in China's VC industry fell 60% YoY to $3.7B in 2023, just 10% of the 2021 peak, leading to an expansion of state-backed funds
South China Morning Post :
Filing: SBF wrote a Google doc in which he floated “bad ideas” to improve his image, including going on Tucker Carlson and coming out “against the woke agenda”
Bloomberg Brian Mutembei / The Crypto Times : Sam Bankman-Fried's Image Restoration Strategy Revealed Zack Abrams / The Block : Sam Bankman-Fried considered blaming lawyers, “woke agenda” to protect i...
After the House vote, Chinese officials say the US has shown “robber's logic” toward TikTok, and Washington must “stop unfairly suppressing foreign companies”
TIKTOK IS LESS OF A DANGER TO THE USA THAN META (FACEBOOK!), WHICH IS A TRUE ENEMY OF THE PEOPLE. Jessica Kwong / Metro.co.uk : Trump's ex-treasury secretary is trying to buy TikTok amid ban threat Mo...
At a recent event, senior execs at Tencent, NetEase, and other Chinese gaming companies said they plan to better promote China's culture, as regulations ease
South China Morning Post :
Inside Zhengzhou's “iPhone City” lockdown, where China's zero COVID-19 policy, related propaganda and fears, and Foxconn's missteps led to the worker riots
South China Morning Post :
Chinese chipmaker SMIC reports Q2 revenue up 41.6% YoY to $1.9B, vs. $1.89B est., but net profit fell 25% YoY to $514M, amid lockdowns and harsher US sanctions
South China Morning Post :
NonFungible: the average NFT selling price has declined to ~$2K, after an all-time high of ~$6.9K on January 2, with a ~40% drop since Russia attacked Ukraine
We'd be wrong to go about this week as normal. It is anything but. South China Morning Post : NFT mania cools amid Ukraine crisis as average price and sales decline from January high Andrew Hayward /...
JD.com says it will support e-CNY on its shopping platform and budget app Jingxi, following WeChat Pay, as China encourages wider adoption of the digital yuan
South China Morning Post :