Equity Monday: When does a selloff become a rout?

Hello and welcome back to Equity, a podcast about the business of startups, where we unpack the numbers and nuance behind the headlines.

Despite the advanced week, news is still coming in hot and heavy, so strap in for today’s busy episode:

• Cryptos have failed to recover from their weekend swoon, leading to most major crypto assets suffering from a double-digit decline in their value over the last week.
• SenseTime’s Hong Kong IPO is set to raise less money than the AI company had hoped.
• BitMart got hacked, showing that even this deep into the crypto era we are still seeing embarrassing security lapses that deliver material consumer pain.
• Alibaba is reshuffling its leadership, though we are not sure at this juncture what the changes mean. Not to get speculative, but we’re keeping an eye on the new leadership.
• A number of investors are considering pouring capital into Polygon, TradeDepot raised $110 million and Stacked raised $35 million for its crypto-investing system.

I would normally say that it’s a holiday week, so let’s relax, but instead I wonder if we’re going to see a final push of news this week before things do calm down for the holiday period.