Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
- Alibaba Group Holding Limited's (NYSE:BABA) joint venture in Russia has laid off about 40% of employees, Nikkei Asia reports.
- It was not clear if there would be more layoffs after some of the laid-off staff chose to leave voluntarily and a few relocated, Reuters reports.
- Alibaba and Russian partners launched AliExpress Russia joint venture in 2019, which operates domestic and cross-border transactions.
- Alibaba depends on cross-border sales for more than 75% of its business and has been slower to benefit from a pandemic-led e-commerce boom as supply chains adjust to new travel curbs.
- Alibaba was also affected by the fallout from the Russia-Ukraine war.
- The layoff was due to the invasion of Ukraine as the war severely disrupted cross-border business.
- Previously reports of a significant job cut in Alibaba were doing the rounds.
- Alibaba continued its restructuring activities as planned and international diversification amid the uncertain domestic regulatory environment.
- Price Action: BABA shares traded higher by 6.99% at $86.76 on the last check Friday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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