Yunfeng Financial Acquires 10,000 ETH for $44 Million Ether Treasury

Yunfeng Financial Group (0376) has purchased 10,000 ETH for $44 million as part of its ether treasury strategy. This move supports its expansion into Web3, real-world assets, digital currency, and artificial intelligence.

Yunfeng Financial is based in Hong Kong and majority-owned by Yunfeng Capital, co-founded by Jack Ma.
The acquisition aims to reduce reliance on traditional currencies and facilitate technological advancements in Web3.
Other companies, including SharpLink Gaming and Bitmine Immersion Technologies, have also adopted ether treasury strategies, following the model popularized by Michael Saylor with bitcoin.
Yunfeng's shares rose 9.55% to 3.67 Hong Kong dollars (47 U.S. cents) following the announcement.