Chinese Alibaba Group to Purchase Alibabacoin Chinese Alibaba Group to Purchase Alibabacoin
By Sheevika Senanayake - October 19, 2018

Alibaba Foundation, the blockchain startup that developed Alibabacoin (ABBC) has been involved in a trademark license dispute with Chinese Alibaba Holding Group, the global company formerly headed by Jack Ma. CEO of Alibaba Foundation Jason Daniel Paul Phillip had offered a settlement last month to Alibaba Group, which has responded that it would be excited to purchase the blockchain startup. Some of the crypto community have even speculated that the lawsuit was intended to make the startup offer the deal, since Alibaba Group had been looking to expand its sphere of influence.