Alibaba
Gate.io experiences slowdown in deposits and withdrawals due to node maintenance
Users of the crypto exchange Gate.io are facing slow deposits and withdrawals on transactions due to a node maintenance from a third-party cloud provider, according to a Dec. 18 announcement. Gate.io said that transactions are still being processed and claimed that user funds are safe. The company stated: “At this moment, we are monitoring the network connection status of our cloud service providers and will expedite the deposits and withdrawals as soon as the network connection is restored.” It is unclear if the delay in transactions is related to OKX’s outage, which was caused by a hardware failure at a Hong Kong data center of its primary infrastructure provider, Alibaba Cloud. As reported by Cointelegraph, Alibaba’s Cloud server went offline on Dec. 17 and...
OKX cites intermittent outage amid Alibaba Cloud equipment anomaly
Crypto exchange OKX witnessed service disruptions after primary infrastructure services provider Alibaba Cloud announced a hardware failure in Alibaba Cloud’s Hong Kong data center. Alibaba Cloud Hong Kong IDC Zone C server went offline on Saturday at roughly 10 pm ET and failed to recover for over seven hours at the time of reporting. On-chain data further confirms that OKX processed no transactions during this timeline. Partial list of Alibaba Cloud’s global infrastructure. Source: Alibaba Cloud Alibaba Cloud’s website shows that the Hong Kong (China) server hosts three availability zones, which have been operational since 2014. The cloud provider confirmed the outage through an official announcement, as shown below. Alibaba Cloud’s official announcement about service disrupt...
Alibaba Cloud launches NFT solution… then quickly memory holes it
The cloud business unit of Chinese marketplace giant Alibaba Group Holdings launched a new NFT solution and then promptly deleted all mention of it online. According to a now-deleted Twitter post announcing the launch on June 8, the firm’s NFT marketplace solution included “web hosting, digital marketing & content delivery” infrastructure, but is no longer listed on its website despite. There are also no press releases or announcements related to the NFT solution on Alibaba’s website anymore, and while the solution’s webpage link still shows up in Google search results, it now redirects to Alibaba Cloud’s solution index page. Deleted Alibaba Cloud tweet: WayBackMachine The reason behind the deleted social media posts and delisting on its website are unclear at this stage. While crypto ...
Chinese internet giants remove NFT platforms fearing gov’t crackdown
China’s leading social media platforms and internet giants have updated their policy to restrict or remove nonfungible token (NFT) platforms, citing a lack of regulatory clarity and fearing government crackdown. Chinese social media giant WeChat reportedly removed several digital collectible platform accounts for violations of the rules. Digital collection platform Xihu No.1, one of the hyped NFT projects in the market, was among the removed platforms. Another platform called Dongyiyuandian revealed that its official app has been banned, reported a local daily. WhaleTalk, a digital collectible platform launched by tech giant Ant group, also updated its policy to increase the penalty for using an over-the-counter (OTC) desk for trading NFTs. It is important to note that even though NF...
Top 10 Most Talked About Entrepreneurs on Earth
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INTERVIEW Africa’s Business Heroes Awarding $1.5-Million to Africa’s Next Top Tech Entrepreneurs
Image sourced from China Daily. /* custom css */ .tdi_4_240.td-a-rec-img{ text-align: left; }.tdi_4_240.td-a-rec-img img{ margin: 0 auto 0 0; } The worldwide pandemic has spurred digital transformation across the African continent. Tech is booming in Africa, it is all too clear to see. Now more than ever, driven African entrepreneurs and startup founders are innovating new waves into the ocean of technology. All they need is funding. Enter: The Africa’s Business Heroes (ABH) initiative – Alibaba founder Jack Ma’s flagship philanthropic program is spotlighting and celebrating the continent’s top entrepreneurs and startups. /* custom css */ .tdi_3_600.td-a-rec-img{ text-align: left; }.tdi_3_600.td-a-rec-img img{ margin: 0 auto 0 0; } Africa’s Business Heroes is calling for applicants to the ...
WSJ: China’s Ant Group plans revamp amid regulator pressure
China’s Ant Group Co Ltd is planning to refashion itself as a financial holding company under the supervision of China’s central bank in the face of regulatory pressure, the Wall Street Journal reported on Wednesday. The fintech affiliate of Alibaba Group Holding Ltd has submitted an outline of a restructuring plan, which could be finalised before China goes into the week-long lunar new year holiday in mid-February, the Wall Street Journal said, citing sources. Chinese regulators had asked Ant to consider folding up most of its financial businesses into a holding company that would be subject to more stringent capital requirements, two sources told Reuters in December. The country’s central bank, People’s Bank of China, has said Ant controls a range of financial institutions, including sec...
US Democrat Senate wins push stocks higher despite Capitol chaos
Clean sweep by Democrats allows them to enact big-spending policies likely to benefit the economy, investors say. Global stock markets rose and bonds nursed losses on Thursday in anticipation of a big-borrowing and big-spending Democratic administration driving growth, following runoff elections that gave the party control of both houses of the United States Congress. On Wednesday, US Treasury bonds had suffered their steepest selloff in months after Democratic Party victories in two races in the state of Georgia handed them narrow control of the Senate and the power to pass their agenda. US S&P 500 futures rose 0.6 percent and Nasdaq 100 futures rose 0.9 percent as markets seemed to shake off a late fade that pulled Wall Street indexes back from fresh record peaks when chaotic protest...
Alibaba Group To Shutter China’s Xiami Music Service
Xiami is one of the smaller digital music services in China. While user numbers are not publicly available, Xiami’s music penetration was less than 2% in 2019, with about five million Monthly Active Users in mainland China, according to local Chinese reports. The country’s biggest streaming platforms are QQ Music, Kugou Music, Kuwo Music and WeSing, all owned by tech giant Tencent Music Entertainment Group. Collectively those four services have more than 800 million users, says Tencent. Tencent’s biggest competitor is NetEase Cloud Music, operated by Chinese internet company NetEase, which claims to have more than 600 million registered users. Xiami and NetEase Cloud Music cut a deal in 2018 for the streaming services to share libraries and grow their respective repertoires — a move seen a...
Alibaba: Coronavirus is real, not a scam
Stand-up comedian Atunyota Akpobome, popularly known as “Alibaba”, has urged Nigerians to be cautious and keep safe, noting that the COVID-19 pandemic is real. Alibaba said that having just survived the deadly virus Nigerians should desist from describing the COVID-19 pandemic as a scam. The comedian thanked Govenir Babajide Sanwo-Olu of Lagos State, Prof Akin Abayomi, the Commissioner for Health, and other caregivers who worked tirelessly to keep him alive at the Yaba Isolation Centre where he was quarantined. ‘COVID-19 is real. Don’t let anyone tell you it is a scam. I just came out of isolation, several people died, while I was there. Some of my close friends know and they were very supportive. ‘I thank the Lagos State governor, the Commissioner of Health, Managing Director of the COVID...
Alibaba founder Jack Ma ‘missing’ after criticism of Chinese government
Chinese business magnate Jack Ma has reportedly gone missing for two months, Yahoo Finance reported early Monday. The seemingly awkward disappearance of the 56-year-old billionaire businessman from the public eye comes nearly three months after he made critical remarks about the ‘stifling of innovation’ by Chinese authorities through stringent regulations, which he said had outlived their relevance. “Today’s financial system is the legacy of the Industrial Age,” Yahoo Finance reported Mr. Ma to have said on October 24. “We must set up a new one for the next generation and young people. We must reform the current system.” The Alibaba and Ant Group founder, who has spent years advancing the course of an open and market-driven economy in the communist East Asian country, has not been seen in ...
Report: Jack Ma’s Ant Group considers overhaul due to regulatory pressure
Chinese financial technology giant Ant Group plans reorganisation that would allow it to be regulated more like a bank, Bloomberg reports. Jack Ma’s besieged Ant Group Co. is planning to fold its financial operations into a holding company that could be regulated more like a bank, according to people familiar with the situation, potentially crippling the growth of its most-profitable units. The fintech giant is planning to move any unit that would require a financial license into the holding company, pending regulatory approval, said the people, who asked not be named because the matter is private. The plans are still under discussion and subject to change, the people said. Ant declined to comment. The operations that Ant is looking to fold into the holding company include wealth managemen...
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