Yunfeng Financial Group Acquires $44 Million in Ethereum for Strategic Reserve

Yunfeng Financial Group Limited, co-founded by Jack Ma, announced a $44 million purchase of approximately 10,000 ETH on September 2, signaling its entry into the cryptocurrency market amid changing regulations in China.

The acquisition was disclosed through a voluntary announcement to the Hong Kong Stock Exchange.
Yunfeng's board approved the purchase as strategic reserve assets, funded entirely from internal cash reserves.
This investment aligns with the company's July 2024 strategic roadmap focused on Web3, real-world asset tokenization, digital currencies, ESG Net-Zero Assets, and AI.
The Ethereum holdings will enhance Yunfeng's blockchain-based services and technological innovation.
Yunfeng operates as the publicly traded arm of Yunfeng Capital, providing financial technology services across Asia.
The investment reflects broader shifts in China's approach to digital assets, recognizing blockchain applications despite ongoing trading restrictions.
Yunfeng aims to integrate finance and technology, enhancing client services and economic autonomy through cryptocurrency.
This positions Yunfeng among publicly traded firms adopting cryptocurrency treasury strategies in China.

The move illustrates how Chinese companies are adapting to regulatory changes while exploring innovation opportunities.