Stock Track | Youdao Plunges 6.22% in Pre-Market as Partnership with Core DAO Raises Privacy Concerns

Stock Track

02-11

Shares of Youdao (DAO) fell 6.22% in pre-market trading on Tuesday, following news of the company's partnership with Core DAO and Element Wallet, which raised concerns about user privacy and data security.

According to reports, Core DAO and Element Wallet are collaborating to expand Bitcoin's utility by enabling decentralized finance (DeFi) and other applications. While Core DAO emphasizes user privacy and security through measures like end-to-end encrypted messaging, some investors are worried about the potential risks associated with the partnership.

Youdao, a leading provider of learning products and services in China, has been actively exploring blockchain technology and cryptocurrency-related initiatives. However, the company's involvement with Core DAO and Element Wallet has raised concerns among investors about the potential impact on user data privacy and the company's overall reputation.

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