Yunfeng financial group (0376) Joined the ranks of listed companies to adopt an Ether cash strategy, buying 10,000 ETH for $ 44 million.
Yunfeng Financial, based in Hong Kong, a provider of financial services such as insurance, brokerage and asset management, belongs to the majority owned by the Shanghai-based capital-investment company, Yunfeng Capital, which was co-founded in 2010 by Jack Ma, who also co-founded Ant Group and Alibaba.
The purchase of the ETH, announced on Tuesday, is part of Yunfeng’s expansion in web3 assets, the real world (Rwas)digital currency and artificial intelligence (AI)that he revealed in July. Yunfeng Financial said that ether will reduce its dependence on traditional currencies and help facilitate its technological plans in web3.
A number of audiences, including the sports betting company, Sharplink Gaming (Sbet) and immersion technologies of cryptography and data center (BMNR) have started to continue ether cash strategies in recent months, buying large quantities of the second largest cryptocurrency in the world to imitate the game book that Michael Saylor’s strategy (MSTR) Famous rendering with Bitcoin .
The actions listed in Hong Kong of Yunfeng Financial closed 9.55% more to 3.67 dollars in Hong Kong (47 cents American) Tuesday.
