Chinese game publisher NetEase has been instructed to divest its overseas holdings, starting with Marvel Rivals which resulted in layoffs for its Seattle team. This move has raised concerns that NetEase may be selling off all of its overseas holdings in U.S. game companies. The directive seems to signal a shift in NetEase’s strategy regarding its international investments.
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Coinbase Says S.E.C. Will Drop Crypto Lawsuit
The cryptocurrency exchange Coinbase announced that the Securities and Exchange Commission has agreed to drop its lawsuit against the company, signaling a retreat by federal regulators and lifting a legal cloud over the global crypto industry. The S.E.C. sued Coinbase in 2023 for selling unregistered securities, but a settlement agreement has been reached without financial penalty, pending S.E.C. approval, marking a significant victory for the industry after years of legal battles and potential regulatory threats....
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