BTC $64,231.00 -0.02%
ETH $1,913.98 +0.71%
BNB $601.49 -0.34%
XRP $1.00 +0.52%
SOL $76.93 +1.22%
TRX $0.3330 -0.02%
DOGE $0.0699 +0.13%
ADA $0.1756 +1.29%
BCH $202.64 -0.63%
LINK $9.66 +2.54%
HYPE $58.37 -2.71%
AAVE $87.93 -0.87%
SUI $0.6556 +1.06%
XLM $0.1570 +1.55%
ZEC $502.59 -1.41%
BTC $64,231.00 -0.02%
ETH $1,913.98 +0.71%
BNB $601.49 -0.34%
XRP $1.00 +0.52%
SOL $76.93 +1.22%
TRX $0.3330 -0.02%
DOGE $0.0699 +0.13%
ADA $0.1756 +1.29%
BCH $202.64 -0.63%
LINK $9.66 +2.54%
HYPE $58.37 -2.71%
AAVE $87.93 -0.87%
SUI $0.6556 +1.06%
XLM $0.1570 +1.55%
ZEC $502.59 -1.41%

kin

All
Article
Flash

hot_img Ant Group's three independent sectors have successively launched external financing, with the "AI leadership and financial support" strategy taking shape

Ant Group's three independent sectors, Ant International, OceanBase, and Ant Technology, have recently launched intensive external financing. Among them, Ant International completed approximately $1.2 billion in Series A financing in July, OceanBase is seeking about 2 to 3 billion yuan in Series A financing, and Ant Technology is preparing for Pre-IPO financing. All three companies will operate independently starting in March 2024. Sources close to Ant indicate that this round of financing is more of a phased test of the effectiveness of the three companies' independent operations, and they have not yet entered the preparation stage for an IPO.OceanBase's annual revenue has exceeded 1.4 billion yuan, with a year-on-year growth of about 70%; Ant Technology's revenue is expected to be around 5 billion yuan in 2025, with a target of about 8 billion yuan in 2026. Ant International's revenue is projected to be around $3.75 billion in 2025. Since 2023, Ant Group has invested nearly 80 billion yuan in technology, shifting its strategic focus from fintech to AI and data elements, with its financial business humorously referred to internally as the department that "earns living expenses" for the AI business.Currently, Ant's overall valuation is approximately 592 billion yuan, a reduction of more than 70% from 2.1 trillion yuan on the eve of its IPO in 2020. The market believes that a spin-off listing is a more realistic path than an overall listing for the group, but each sector still needs to prove its independent customer acquisition capabilities to open the doors to the capital market.

South Korean regulators have implemented access blocking on Polymarket, deeming it to provide illegal betting

The Korea Communications Standards Commission (KCSC) held a meeting of the Communications Review Subcommittee and determined that the overseas prediction market platform Polymarket provided illegal betting, deciding to implement access blocking measures against it. The committee judged that Polymarket's business model is based on the outcomes of events that users cannot control, such as politics, sports, elections, and weather, adopting a "winner takes all" profit and loss structure that fosters speculative psychology; the platform operator is responsible for market establishment, trading rule setting, and overall operational management, providing a virtual asset acceptance and settlement system, which effectively creates an environment for raising and delivering user funds, and profits by charging transaction fees through share trading, violating South Korea's Criminal Law and the National Sports Promotion Act.Polymarket argued that the platform operates based on non-custodial peer-to-peer trading and smart contracts, and does not directly raise funds, manage funds, or issue sports promotion voting rights. However, the committee responded that one cannot evade the applicability of domestic laws in South Korea based on technical characteristics such as whether Korean language services are provided, decentralized technology, or centralized trading interfaces. Given that the platform has actually provided illegal betting to South Korean users, access blocking is unavoidable to protect domestic users.
app_icon
ChainCatcher Building the Web3 world with innovations.