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Trump Administration Said to Mull Putting Digital Payments Giant Ant Group on Trade Blacklist: Report
The move comes as Ant, a global leader in digital payments, is readying what could be an offering worth up to a record $35 billion.
The U.S. State Department has submitted a proposal to add Ant Group, the fintech arm of e-commerce behemoth Alibaba, to a trade blacklist, Reuters reported, citing two people familiar with the matter.
Ipagpatuloy Ang Kwento Sa Baba
- The move comes as Ant, a global leader in digital payments, is readying to go public in what could be an offering worth up to a record $35 billion.
- While it's not clear when the proposal to put China-based Ant on the blacklist will be reviewed, it comes as trade hawks in the Trump administration want to discourage U.S. investors from taking part in the Ant IPO, Reuters noted.
- Why this matters in the crypto world: Besides being a global leader in digital payments, Ant has been working on its own blockchain operations while China is operating at full speed on its own digital currency and its Blockchain Services Network.
Read also: Ant Launches Business Trade Blockchain in Run-Up to $35B IPO
Kevin Reynolds
Kevin Reynolds was the editor-in-chief at CoinDesk. Prior to joining the company in mid-2020, Reynolds spent 23 years at Bloomberg, where he won two CEO awards for moving the needle for the entire company and established himself as one of the world's leading experts in real-time financial news. In addition to having done almost every job in the newsroom, Reynolds built, scaled and ran products for every asset class, including First Word, a 250-person global news/analysis service for professional clients, as well as Bloomberg's Speed Desk and the training program that all Bloomberg News hires worldwide are required to take. He also turned around several other operations, including the company's flash headlines desk and was instrumental in the turnaround of Bloomberg's BGOV unit. He shares a patent for a content management system he helped design, is a Certified Scrum Master, and a veteran of the U.S. Marine Corps. He owns bitcoin, ether, polygon and solana.
