FT News Briefing Binance hid links to China
Mar 30, 2023
Meta is contemplating a ban on political advertising in Europe, stirring up discussions on transparency. Binance has come under fire for concealing significant ties to China, raising eyebrows in the crypto space. UBS is reinstating Sergio Ermotti to navigate the tricky integration of Credit Suisse. Meanwhile, Alibaba is splitting into six units to bolster its survival strategy amid a challenging landscape for Chinese tech companies. Get ready for insightful takes on these shifting dynamics!
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Potential Political Ad Ban on Meta Platforms
- Meta considers banning political ads in Europe due to upcoming EU regulations.
- They worry the EU's definition of "political ad" is too broad, making compliance difficult.
UBS Brings Back Former CEO
- UBS rehired Sergio Ermotti to oversee the Credit Suisse integration.
- Ermotti previously led UBS from 2011-2020, successfully downsizing its investment bank.
Binance's Hidden China Links
- Binance faces scrutiny for hiding its links to China despite claiming to have left in 2017.
- This is important due to US-China rivalry and Binance's attempt to acquire US assets.