Chinese Fintech Winds Down Stake in Blockchain Fund After Probe

• Chinese fintech Ant Group is winding down a $100 million investment in A&T Capital's blockchain fund after a probe into one of the fund's founders.
• The co-founder of AT&T Capital, Yu Jun, resigned after a probe into his behavior.
• Ant Group had invested in offshore crypto products through Yu Jun's help.
• A&T Capital raised $100 million for investments in crypto and blockchain in 2022.
• Ant Group's investment in blockchain may be deterred by the dominance of renminbi-based fintech services like Alipay and WeChat Pay.
• China's focus on digital currency and AI may diminish fintech blockchain interest.

The sentiment of the article is mostly negative, highlighting the challenges and potential drawbacks faced by Ant Group in its blockchain investments, including the probe into one of the fund's founders, the dominance of renminbi-based fintech services, and the diminishing interest in blockchain due to China's focus on digital currency and AI.