Ripple Labs, the blockchain company behind the XRP cryptocurrency, has achieved a significant legal victory in a case brought against it by the U.S. Securities and Exchange Commission (SEC). U.S. District Judge Analisa Torres ruled that Ripple did not violate federal securities law by selling XRP tokens on public exchanges. This landmark decision has sent the value of XRP soaring, with the cryptocurrency experiencing a 75% increase.
Ant Group Announces Share Buyback as Regulatory Crackdown on Chinese Tech Giants Begins to Ease
Ant Group has announced a share buyback that values the company at $78.5 billion. This valuation is significantly lower than the $230 billion it was valued at nearly three years ago before its initial public offering (IPO) was halted by Chinese regulators. The buyback comes after Chinese financial regulators fined Ant and its subsidiaries a total of 7.1 billion yuan ($984 million) for violations related to consumer protection and corporate governance.
Founder of Tiki Resigns Amidst Intense Competition and Declining Market Share
In a surprising turn of events, Tran Ngoc Thai Son, the founder and CEO of Tiki, one of Vietnam’s leading e-commerce platforms, has submitted his resignation to the company’s board of directors. This news comes at a critical time for Tiki as it faces intense competition from rivals such as Shopee and Lazada, while its own market share continues to decline. Tiki’s struggles have been further highlighted by the phenomenal success of TikTok Shop, which has rapidly gained popularity in the Vietnamese market.
Instagram’s Threads App Surpasses 100 Million Users in Just Five Days: A Remarkable Milestone
Instagram’s text-based app, Threads, has achieved an impressive milestone by reaching 100 million signups within just five days of its launch. The Twitter rival, introduced on June 6 (June 5 in the Americas), quickly gained traction among users, as confirmed by Adam Mosseri, the head of Instagram.
The Unexpected “Alliance”: How Elon Musk Became Mark Zuckerberg’s Secret Weapon
At the beginning of last year, Meta CEO Mark Zuckerberg faced intense scrutiny and criticism surrounding Facebook’s privacy breaches, declining ad business, and the controversial plan to rebrand as Meta. However, the focus quickly shifted to another tech billionaire: Elon Musk. Musk’s tumultuous takeover of Twitter, marked by erratic statements and significant policy changes, created chaos and drew attention away from other tech giants, including Meta.
Vietnam’s Export Performance in the First Half of 2023
Vietnam’s exports in the first half of 2023 have faced significant challenges due to the global economic downturn and high inflation. According to the General Statistics Office, there were 27 export items with a value exceeding $1 billion, a decrease of 2 items compared to the same period last year, accounting for 90.1% of the total export turnover.
China Fines Jack Ma’s Ant Group Nearly $1 Billion- A Landmark Penalty in Tech Crackdown
China’s regulatory crackdown on its domestic tech sector continues as the People’s Bank of China (PBOC) fines Alibaba affiliate Ant Group a staggering 7.12 billion yuan ($985 million) for multiple violations of laws and regulations.
Binance Faces Executive Departures Amid Mounting Legal Pressure
Binance, one of the world’s largest cryptocurrency exchanges, is facing significant challenges as it grapples with legal pressure from regulators in various countries. The company recently announced the departure of several top executives, including Chief Strategy Officer Patrick Hillmann,
Meta Launches “Threads” – The Twitter Killer Challenging Elon Musk’s Turbulent Reign
Facebook’s parent company, Meta, has launched a new social media network called Threads, aiming to capitalize on the recent turmoil at Twitter under its billionaire owner, Elon Musk. Mark Zuckerberg, the founder of Facebook, announced the launch of Threads in a post on Wednesday, inviting users to join the platform and emphasizing the need for a friendly online community.
Warner Bros’ ‘Barbie’ Film Banned in Vietnam Amid South China Sea Controversy
Vietnam has recently taken a firm stance against Warner Bros’ film “Barbie” due to a contentious scene that depicts China’s unilateral claim over territory in the South China Sea.
