According to @StockMKTNewz, the U.S. Pentagon said Alibaba (BABA) should be on a list for China military ties. According to the U.S. Department of Defense, inclusion on the 10 U.S.C. §1260H Chinese Military Companies list can inform U.S. policy actions, and according to the U.S. Treasury’s OFAC China Military-Industrial Complex sanctions framework (E.O. 13959 as amended by E.O. 14032), designated firms face prohibitions on purchases of their publicly traded securities by U.S. persons and divestment timelines, which have historically led to index removals and broker restrictions. According to the IMF Global Financial Stability Report (October 2022), crypto has become more correlated with equities, implying negative China ADR headlines can spill over to BTC and ETH risk sentiment. According to KraneShares, KWEB has material Alibaba exposure, so traders often monitor KWEB flows and price action alongside any official updates from DoD and OFAC for confirmation and timing risk.