Bitcoin Nears Bear Market Territory

Bitcoin is currently down about $500, or nearly 17%, from its June 12th peak of $3,000 per coin. Essentially every other major cryptocurrency, including Ethereum and Litecoin, has seen similar declines. There have been fluctuations since the peak, but the overall trend has been steadily downhill for weeks. While it can seem odd to apply old-school…

Alibaba to invest $1 billion in Lazada as Southeast Asia awaits Amazon

Chinese e-commerce giant Alibaba is ponying up $1 billion to boost its stake in Southeast Asian online retailer Lazada, ahead of Amazon’s much-anticipated entry into the region. On Wednesday, Alibaba said it will increase its stake in the company from 51 percent to about 83 percent, bringing its total investment to over $2 billion. The investment underscores increased…