Yunfeng Financial Acquires $44M in Ethereum for Strategic Reserves
Yunfeng Financial, backed by Jack Ma, has acquired Ethereum on the open market using internal cash reserves. This move bolsters its balance sheet with Ethereum as a strategic reserve asset and indicates confidence in the future of cryptocurrency in global finance.
- Jack Ma is recognized for his role in Alibaba Group and investments in technology and finance.
- Yunfeng is exploring sectors like Web3, tokenized assets, ESG investments, and artificial intelligence.
- The acquisition aligns with a trend of traditional finance firms adopting cryptocurrencies as reserve assets.