Key Notes

Yunfeng's board approved the $44M Ethereum purchase using internal cash reserves without external financing for strategic expansion.

The acquisition supports Web3 services and Real-World Asset tokenization as part of the company's July 2024 strategic roadmap priorities.

This marks the highest-profile Chinese financial services firm adopting cryptocurrency treasury strategies amid ongoing regulatory restrictions.

Yunfeng Financial Group Limited, the Hong Kong-listed company co-founded by Alibaba’s Jack Ma, announced a purchase of $44 million in Ethereum ETH $4 323 24h volatility: 1.7% Market cap: $520.55 B Vol. 24h: $33.05 B , close to 10,000 ETH, on September 2, marking its expansion into cryptocurrency markets amid China’s evolving stance on d

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