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Jack Ma-Backed Yunfeng Dives Into Crypto With $44 Million Ether Purchase
3 Articles
3 Articles
YF Financial Buys $44M in Ethereum to Boost Web3 Strategy
Ethereum’s growing adoption has taken another step forward as Yunfeng (YF) Financial Group , a Hong Kong–listed investment and financial services company associated with entrepreneur Jack Ma, revealed a significant purchase of Ether. The firm confirmed that it had acquired 10,000 ETH, valued at approximately $44 million, using its internal reserves. The company indicated that the acquisition was part of a broader plan to diversify its balance sh…
Through the Hong Kong-based company Yunfeng Financial, Chinese billionaire Jack Ma has just acquired 10,000 Ethers. Thus, the founder of Alibaba Group — AliExpress, AliPay — is embarking on decentralized finance (DeFi) with an Ethereum Treasury Company, like Peter Thiel, president of Silicon Valley's shadow. The article Why the Chinese billionaire Jack Ma buys thousands of Ethers (ETH) ? appeared first on Cryptoast.
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