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Hong Kong-listed Yunfeng Financial Group, backed by Alibaba founder Jack Ma, has acquired $44 million worth of Ethereum to fuel its expansion into Web3 and tokenized finance. The purchase of 10,000 ETH signals the company’s strategic pivot toward digital assets and blockchain infrastructure. This move positions Yunfeng at the forefront of integrating traditional finance with emerging Web3 technologies.
- Company acquired 10,000 ETH worth $44 million entirely from internal cash reserves
- Strategic focus includes real-world asset tokenization, Web3 infrastructure, and AI integration
- ETH chosen specifically as a reserve asset to support technological innovation in finance
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