Activision Blizzard Proposes Settlement to DOJ Lawsuit; Alibaba Launches Budget Channel 99 Temai

In today's ExchangeWire news digest: Activision Blizzard proposes a settlement to end an antitrust lawsuit from the DOJ; Alibaba adds 99 Temai to its flagship retail platform Taobao; and Texas approves a bill restricting benefits for crypto miners.

Activision offers to settle esports antitrust lawsuit

Gaming giant Activision Blizzard has proposed a settlement to close an antitrust lawsuit from the US Justice Department. The DOJ accused the Call of Duty maker of imposing rules to limit competition and reduce wages for players in two of its professional esports leagues. The proposed settlement will be open for public comment and reviewed by the DOJ before being finalised.

Alibaba adds budget channel to Taobao

Alibaba has launched a new budget channel to its digital retail platform Taobao. 99 Temai, which translates to “99 special sale”, offers thousands of items ranging from household goods to plants. The launch of 99 Temai signals Alibaba is ramping up competition with online shopping rivals Pinduoduo and JD.com.

Texas passes bill limiting benefits for crypto miners

A proposed new law intended to limit key benefits for bitcoin miners has been approved by a state Senate committee in Texas. Senate Bill 1751, which was passed on Tuesday (4th April), would restrict how much miners can take part in grid balancing programs.

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Fact of the Day

300 million - the number of annual buyers on Taobao, as of 2022.

Source: TechNode