Ant Group and Alibaba collectively lost more than $850 billion over the past three years, the news outlet reports Chinese tech giants Ant Group and Alibaba lost billions in value over the past three years amid the regulatory crackdown that followed co-founder Jack Ma’s criticism of the government, Bloomberg reported on Monday, citing calculations based on market data. Both companies came under scrutiny over alleged violations of anti-monopoly laws. The crackdown came shortly after Ma’s speech in October 2020 in which he criticized China’s financial regulatory system for stifling innovation, and claimed that Chines
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