Jack Zhang, co-founder of fintech company Airwallex, declined a $1.2 billion acquisition offer from Stripe seven years ago. Since then, Airwallex has grown substantially and is now valued at $6.2 billion, with plans for an initial public offering in 2026. Zhang's journey from washing dishes at 16 to building a major fintech stake worth $775 million highlights an unconventional path to success. Meanwhile, a short report by Culper Research has targeted AppLovin (NASDAQ: APP), alleging undisclosed ties to Chinese Communist Party (CCP) intelligence, human trafficking, money laundering, undisclosed stock pledges, and secret Chinese e-commerce deals as the company pursues a bid for TikTok. The report claims that Chinese national Hao Tang holds a significant stake in AppLovin through offshore entities. This has led to a decline in AppLovin's stock price. Additionally, concerns have been raised about 17 VPN apps available on Apple and Google app stores, which reportedly have undisclosed connections to China, potentially exposing American users' browsing data to the Chinese government. These revelations have sparked scrutiny over data privacy and corporate transparency. Separately, the Philippine stock market is facing what has been described as a potential large financial distortion involving inflated valuations, lack of financial disclosures, and questionable accounting practices, prompting calls for greater transparency from regulators and investors. An insider account of Alibaba reveals issues of cultural decline and failed business bets within the company. Overall, these developments underscore ongoing challenges in fintech, data security, and market integrity across multiple regions.