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Yunfeng Financial Group, backed by Alibaba co-founder Jack Ma, has acquired $44 million worth of Ethereum to establish a crypto treasury. The Hong Kong-listed firm’s move signals a strategic pivot toward digital assets and blockchain infrastructure. This purchase reflects growing institutional adoption of cryptocurrencies beyond speculative trading.
- Yunfeng Financial acquired 10,000 ETH worth $44 million as part of its corporate treasury strategy
- The company's shares rose 9.55% following the Ethereum purchase announcement
- Yunfeng plans to use the move to reduce traditional currency reliance and support expansion into Web3 and digital assets
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