Chinese stock-trading app raises $146 million

Mark Lennihan / AP

Futu Securities, a Chinese online brokerage, reportedly has raised $145.5 million in Series C funding. Tencent led the round, and was joined by return backers Matrix Partners China and Sequoia Capital China.

  • Why it matters: This deal comes as Futu continues to work toward obtaining a U.S. brokerage license, and as more and more Chinese retail traders get comfortable using mobile apps to trade local and U.S. securities (the company claims $44 billion of 2016 transaction value).
  • Risk factor: "The China Securities Regulatory Commission said last July that Futu's online platform provided unauthorized overseas stocks trading services and gave no legal protection to investors. [CEO Li Hua] said his company was 'hit by mistake' and the regulator gave positive feedback after understanding its business." ―Bloomberg

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University of Minnesota student jailed in China over tweets

Xi Jinping. Photo: Noel Celis - Pool/ Getty Images

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Why it matters: The case represents a dramatic escalation of the Chinese government's attempts to shut down free speech abroad, and a global expansion of a Chinese police campaign a year ago to track down Twitter users in China who posted content critical of the Chinese government.

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⚖️ Live updates: Opening arguments begin in Trump impeachment trial

The second day of the Senate impeachment trial of President Trump will see a full day of opening arguments from Democratic House impeachment managers.

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This post will be updated with new developments as the trial continues.

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