Alibaba chairman Jack Ma. Photo: VCB/Getty Images

Chinese tech giant Alibaba is using its unparalleled reach across e-commerce, logistics, entertainment and travel to change the way its users consume, interact with and participate in sports.

Driving the news: The company’s sports arm, Alisports, is leveraging Alibaba's expansive ecosystem and gigantic user base (over 600 million active users) to move into the world of organized sports, Bloomberg recently reported.

  • "Using marathons as a guinea pig, it's scooping up broadcast rights and collecting information on participants and viewers to sell them everything from running shoes to health insurance."
  • "Fans watching the event on the company’s Youku streaming service can even send virtual gifts and tips to their favorite runners."

The big picture: Once this strategy is replicated across other sports, Alibaba will slowly begin to involve itself in nearly every aspect of the Chinese sports market: media, advertising, retail, events, fitness and health.

The bigger picture: This will provide a blueprint for how other platforms like Amazon and Twitter should — and shouldn't — go about using big data to penetrate the sports market.

P.S. ... Speaking of Alibaba, the company's co-founder and executive vice chairman Joseph Tsai — who already owns 49% of the Brooklyn Nets — officially purchased the WNBA's New York Liberty yesterday.

Go deeper: Alibaba's Singles Day tops Amazon's Prime Day in under 10 minutes

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Report: Goldman to settle DOJ probe into Malaysia's 1MDB for over $2B

Illustration: Lazaro Gamio/Axios

Goldman Sachs has agreed with the Department of Justice to pay over $2 billion for the bank's role in Malaysia's multi-billion dollar scandal at state fund 1MDB, Bloomberg first reported.

Why it matters: The settlement, expected to be announced within days, would allow Goldman Sachs to avoid a criminal conviction in the U.S. over the bribery and money laundering scandal that saw three of its former bankers banned for life from the banking industry by the Federal Reserve Board.

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Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: Americans feel Trump's sickness makes him harder to trustFlorida breaks record for in-person early voting — McConnell urges White House not to strike stimulus deal before election — Republican senators defend Fauci as Trump escalates attacks.
  2. Health: The next wave is gaining steam.
  3. Education: Schools haven't become hotspots — University of Michigan students ordered to shelter-in-place.
  4. World: Ireland moving back into lockdown — Argentina becomes 5th country to report 1 million infections.

Trump threatens to post "60 Minutes" interview early after reportedly walking out

Trump speaks to reporters aboard Air Force One, Oct. 19. Photo: Mandel Ngan/AFP via Getty Images

President Trump tweeted on Tuesday that he was considering posting his interview with CBS' "60 Minutes" prior to airtime in order to show "what a FAKE and BIASED interview" it was, following reports that he abruptly ended the interview after 45 minutes of taping.

Why it matters: Trump has escalated his war on the media in the final stretch of his re-election campaign, calling a Reuters reporter a "criminal" this week for not reporting on corruption allegations about Hunter Biden and disparaging CNN as "dumb b*stards" for the network's ongoing coronavirus coverage.