Alibaba Group (BABA  ) is facing a multitude of crises as the company enters the new year, facing a Chinese government probe, threats of being added to President Trump's blacklist of Chinese firms, and the continued absence of Jack Ma.

The CCP probe into Alibaba has become noticeably more heated with each passing week and has attracted the attention of experts and investors from around the world. The first signs of government intervention into Jack Ma's business empire came in November when the Chinese government suspended the IPO of Ant Group. In December, pressure on Ma increased as the government launched an antitrust investigation into Alibaba. As Alibaba entered 2021, the situation intensified once again when the Chinese government ordered all coverage of the investigation censored.

The decision to censor the probe is unusual and profoundly concerning and may reflect a more deeply political situation than many observers first thought.

Xiao Qiang, a Scientist at the University of California at Berkeley, remarked that the decision to censor the probe was "unusual" in an interview with the Financial Times. "The language [of the directive] is quite similar to the directives on 'very important political event' reports such as the trial of Bo Xilai."

It's largely believed that the probe and the decision to censor media coverage may result from a combination of Jack Ma's anti-government rhetoric and the Chinese government's own fear of Alibaba presenting itself as a challenge to its power. It's hard not to believe that this may be the case, especially given Ma's continued absence amid the ongoing probe.

Ma's disappearance has captivated many; some casual observers theorize that Ma was forcibly disappeared by the Chinese Communist Party, while others present less wild theories that Ma is merely keeping his head down, as he's acutely aware of how badly he's angered the CCP. Regardless, Ma's disappearance during a time of crisis is worrying; the mere fact that China's richest man has simply vanished is as concerning as it is sensational.

If a potentially deeply political probe and its founder's disappearance wasn't enough, Alibaba also faces pressure overseas in the United States, where the Trump administration is weighing the decision to add Alibaba to the blacklist of companies that have faced penalties up to and including delisting. Passport to Wall Street just last week covered the delisting of three Chinese telecom firms and the confusion over the multiple reversals that New York Stock Exchange administrators pulled.

If the Trump administration carries out the blacklisting of Alibaba, the "Amazon of China" could be next on the chopping block. Should delisting occur, American Alibaba investors face the same "rock and a hard place" decision as those with shares of previously delisting companies: sell stock at a loss or be stuck with lame shares.

In all, Alibaba didn't start 2021 strongly, largely due to the pressures of two governments that, at a lack of better words, appear to be out for blood. As a result of the censorship order, investors aren't likely to have any closure anytime soon. The best that any can hope for is a quick decision by Chinese authorities, though there is, of course, the risk of the decision being detrimental for Alibaba, Jack Ma, and investors.