The world this week - Business
El Salvador’s roll-out of bitcoin as legal tender got off to a shaky start.
The Central American country is the first in the world to adopt the cryptocurrency as an official means of exchange; it now uses bitcoin alongside the American dollar.
Systems were overwhelmed as people downloaded the government-backed Chivo, or “cool”, e-wallet, after the government offered $30-worth of free bitcoin as an incentive.
The roll-out added to already volatile trading in bitcoin; at one point the price plunged so fast it was described as a “flash crash”.
Coinbase, a cryptocurrency exchange, revealed that America’s Securities and Exchange Commission is threatening to sue it, if it brings a product to market that allows users to lend their cryptoassets and earn interest on the loan.
The company suggested that this may be because the SEC classifies the product as a security (therefore falling outside existing lending regulations), but it had not been given an official explanation.
SoftBank’s stock surged after it announced a complex deal that gives it a 4.5% stake in Deutsche Telekom in return for a chunk of its shares in T-Mobile US, in which Deutsche Telekom is already the largest investor.
软银在宣布一项复杂的交易后股价大涨，该交易让软银以其在T-Mobile US的大量股份换取德国电信4.5%的股份，而德国电信已经是T-Mobile US的最大投资者
The German telecoms company will then sell off T-Mobile Netherlands for $6.1bn and buy more shares in the American wireless business.
SoftBank benefits through a strategic arrangement that gives it access to Deutsche Telekom’s European customer base.
Both Didi Global and Beijing’s city government denied media reports that the city government is considering taking the ride-hailing company under state control and arranging this by directing state firms to invest in it.
Didi is one of the targets of China’s crackdown on influential tech companies.
In July it was ordered to pull its app from app stores after it completed a successful IPO in New York.
1.get off to 陷入……状态
The evening got off to a wobbly start.
2.sell off 甩卖；变卖；变现
The company is selling off some sites and concentrating on cutting debts.