On September 4, Hong Kong-listed Yunfeng Financial announced on September 2 that it had purchased 10,000 Ethereum in the open market, with a total investment cost of $44 million. Behind Yunfeng Financial stand Jack Ma and Yu Feng, two important figures in China's business world. This investment is not huge for Jack Ma's business map, but its symbolic significance goes far beyond its financial value. It marks that the founders of the first generation of the Internet in China have begun to seriously set their sights on the next generation of the Internet, that is, Web3. After more than two decades of rapid growth, China's Internet giants are looking for new continents. At the 2020 Bund Finance Summit, Jack Ma said, "If we use the vision of the future to build the financial system in 30 years, digital currency may be a very important core." For Jack Ma, Web3 is not a "new outlet" label, but an opportunity to reconstruct business logic from the bottom. Behind blockchain, smart contracts, and tokenization may be the new answers they are looking for. From Ant Group's stablecoin ambitions to Yunfeng Financial's strategic allocation of ETH, Jack Ma once again stands at the intersection of the new financial wave, confirming his intuition with the words of his early years: "The opportunity in the future lies in transforming traditional industries with new technologies." For more information, please refer to BlockBeats' in-depth report "Why did Jack Ma buy Ethereum?" 》
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Viewpoint: Jack Ma's purchase of Ethereum symbolizes far more than financial value; the creator of China's Web2 is shifting focus towards Web3.
On September 4, Hong Kong-listed Yunfeng Financial announced on September 2 that it had purchased 10,000 Ethereum in the open market, with a total investment cost of $44 million. Behind Yunfeng Financial stand Jack Ma and Yu Feng, two important figures in China's business world. This investment is not huge for Jack Ma's business map, but its symbolic significance goes far beyond its financial value. It marks that the founders of the first generation of the Internet in China have begun to seriously set their sights on the next generation of the Internet, that is, Web3. After more than two decades of rapid growth, China's Internet giants are looking for new continents. At the 2020 Bund Finance Summit, Jack Ma said, "If we use the vision of the future to build the financial system in 30 years, digital currency may be a very important core." For Jack Ma, Web3 is not a "new outlet" label, but an opportunity to reconstruct business logic from the bottom. Behind blockchain, smart contracts, and tokenization may be the new answers they are looking for. From Ant Group's stablecoin ambitions to Yunfeng Financial's strategic allocation of ETH, Jack Ma once again stands at the intersection of the new financial wave, confirming his intuition with the words of his early years: "The opportunity in the future lies in transforming traditional industries with new technologies." For more information, please refer to BlockBeats' in-depth report "Why did Jack Ma buy Ethereum?" 》