News roundup: Ant IPO stumbles, Twitter moderates Trump, and a huge bitcoin seizure

A roundup of this week's tech news, including the world's biggest IPO fail, more Trump/tech giant beef, and 5G drones take to the skies.


Ant IPO comes to a screaming halt

When it comes to stock market debuts, it literally doesn't come any bigger than the IPO of the Jack Ma-led fintech giant Ant group. The company's insanely huge dual listing on the Hong Kong and Shanghai stock exchanges was just last week causing a frenzy of interested investors to throw money at the company, pushing the fundraising total from US$33 billion to a record-breaking $37 billion in the week before its debut. But that all came to a staggering halt this week, as China suspended the company's IPO in Shanghai (with Hong Kong subsequently following suit) just days before it was due.

The Shanghai Stock Exchange says it postponed the IPO because of "major issues" to the extent where the company "may fail to meet information disclosure requirements." Many outlets have taken the news as somewhat of a push back against Jack Ma himself, as he has recently told China's financial regulators that their activities were working to stifle innovation and growth. His rhetoric has reportedly sparked fears amongst China's regulators around the extent of his power in financial markets.

The news sent shockwaves through financial markets internationally, with stunned investors both large and small clamouring to recover funds and cut losses, while the share price of Ant's parent company Alibaba took a tumble of over 9% after the news broke. Fears have also arisen over whether a renewed IPO date would hold the same level of value and whether shares would even be worth buying at all.

Twitter and Facebook watch over Trump's tweets

The week that was in the world of US politics was, perhaps expectedly, polarising and filled with a healthy amount of drama. While I'm sure many people expected a fairly tumultuous trip to 270 for either President Donald Trump or ex Vice President Joe Biden, it has still been nothing short of an astounding week in US politics, as (at the time of writing) we still don't have a winner.

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