Yunfeng Financial links with Jack Ma to buy 44 million dollars worth of ETH in the context of the developing Web3.

Yunfeng Financial Group, a fintech company listed in Hong Kong with ties to Jack Ma, has purchased 10,000 ETH worth approximately 44 million USD to make a strong push for its Web3 strategy. The transaction was funded from internal capital, after the company announced plans to expand into Web3, tokenize real-world assets (RWA), cryptocurrencies, and artificial intelligence.

According to the announcement, Ether has been chosen as a strategic reserve asset to support the tokenization of RWA, technological innovation, and financial integration with Web3 infrastructure. ETH will be recognized as an investment asset on the balance sheet, helping to diversify the portfolio and reduce dependence on fiat currency. Yunfeng is also researching the application of Ethereum in insurance and DeFi.

On the same day, Ether Machine raised 654 million USD (150.000 ETH) to prepare for a Nasdaq listing, while BitMine Immersion Technologies added another 150,000 ETH, bringing the total holdings to nearly 1.87 million ETH.