Ant Group to divests investment following resignation of A&T founding partner Yu Jun, investigated for workplace misconduct.
In a recent turn of events, Ant Group, a Chinese financial technology giant, reportedly decided to divest its $100 million investment in A&T Capital, signaling a retreat from the volatile crypto sector.
Founded by Alibaba owner and Chinese businessman Jack Ma, Ant Group is allegedly retreating from the $100 million fund when the crypto venture funding landscape is experiencing a sharp downturn. Data indicates that crypto startup funding slid to its lowest since 2020 in the second quarter.leave A&T Capital’s future uncertain as it’s yet to be established whether it will need a new investor or can continue operations. Based on reports, as of Sept.
As per reports, both government watchdogs and A&T Capital’s team have been probing the ex-executive for alleged sexual misconduct, mainly at A&T Capital, dating back to 2022.The new reports are just the latest in Ant Group’s recent, as it aims for significant strides in financial AI while seemingly taking a step back in crypto.
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