Ant Group Enters Strategic Partnership with NBA in China

The strategic partnership will see the two parties pull their resources together, in such areas as video content, membership, as well as program broadcasting. Chinese fintech giant Ant Group has announced a new partnership with the prestigious basketball league NBA. According to the Tuesday announcement, the strategic partnership will see the two parties pull their resources together, in areas such as video content, membership, as well as program broadcasting. Ant Group Reveals the Aims of the Partnership with NBA Per a statement, video content will now be accessible to NBA…

Recent SEC Crackdown on Crypto Led to $32M in Institutional Outflows

The SEC crackdown on the crypto space has dampened sentiments among institutional market players. Bitcoin-related investment products saw the highest outflows. As we know, the US Securities and Exchange Commission (SEC) has tightened its grip on the crypto market since the beginning of 2023. The latest crackdown among the SEC major ones is shutting down the crypto staking service of crypto exchange Kraken. SEC Crackdown on Crypto The latest report from CoinShares notes that in the wake of the regulatory crackdown currently in the US, institutional investors have been refraining…

Chinese E-Commerce Giant JD.com Stock Slump amid Subsidy Report

Should JD.com be operating in a whole new niche, the prediction of its ability to bounce back might be somewhat difficult. The stiffening competition that may be tagged as a healthy twist for Chinese retail consumers can be said to be a major bane for e-commerce giant JD.com Inc (HKG: 9618). According to a report by Bloomberg, the shares of JD.com are moving negatively in tandem with a recent report that the company is planning a subsidy program to reposition itself against the stiff competition it is currently facing. The…

Beijing Subtly Backing Hong Kong amid Special Administrative Region Plans to Become Crypto Hub

Beijing officials are getting behind a Hong Kong agenda to transform into a crypto hub in the Greater China region. Hong Kong has reportedly secured quiet backing from Beijing to become a global crypto hub. China Liaison Office representatives and other government officials have frequently visited the city’s crypto gatherings for months to further the cause. Inside sources have stated that these encounters are friendly and cordial, with participants checking on developments and exchanging business cards. Furthermore, Beijing’s support for the emerging Hong Kong crypto hub is also allegedly evidenced…

Market makers in the crypto industry: party planners or bartenders?

What is a market maker, and how do they differ in the crypto and traditional finance markets? At the European Blockchain Conference in Barcelona, Cointelegraph discussed the topic with key market makers in the crypto industry on one of the conference’s first panels. Cointelegraph reporter Joseph Hall drew up the analogy that crypto market makers are much like cool bartenders at a very high-tech and unashamedly nerdy cocktail party. Their job is to keep the drinks flowing, i.e., provide liquidity and ensure everyone’s having a good time while maintaining order…