Alibaba’s Jack Ma Enters Crypto World with $44 Million ETH Purchase

Yunfeng Financial Group, a company co-founded by Alibaba’s Jack Ma, has made a significant move in the cryptocurrency space. The group acquired 10,000 Ethereum (ETH) worth approximately $44 million, aligning with their broader Web3 strategy. This investment highlights Yunfeng’s commitment to diversify its assets and leverage ETH as a strategic reserve asset within their financial portfolio. The purchase was made using internal cash reserves, bolstering the company’s balance sheet while emphasizing a long-term vision for crypto in global finance.