Yunfeng Financial Group, a company that lies in Hong Kong with links with the founder of Alibaba, Jack Ma, acquired 10,000 ETH (for a value of approximately $ 44 million) in a movement to deepen its web expansion.
The purchase, revealed in a voluntary announcement on Tuesday, was financed through internal cash reserves. The measure follows a recent announcement of Yunfeng that describes its impulse on web3, Real World Assets (RWA), digital currency and artificial intelligence.
According to the company, Ether (ETH) was chosen as a reserve asset to support RWA token, technological innovation and the broader integration of finance with web infrastructure.
“The Board believes that the inclusion of the ETH as strategic reserve assets of the company is consistent with the group’s expansion design in the border areas, including web3, and provides key infrastructure support for real -world asset token activities (RWA),” the company said.
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Yunfeng will classify ETH as an investment asset
ETH will be reflected as an investment asset in Yunfeng’s general balance. “The ETH is counted as investments in the group’s financial statements,” according to the announcement.
The company also pointed out that ETH Holdings would help diversify its asset base and reduce the dependence of traditional fiduciary currencies. Yunfeng also plans to explore Ethereum’s potential application in insurance operations and new commercial scenarios adapted to decentralized finances.
Yunfeng Financial is a group of financial technology that lies in Hong Kong that provides investment and financing services, including brokerage, asset management, insurance and financial technology solutions. Jack Ma is a key associate of Yunfeng Financial.
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Ether Machine raises $ 654 million in eth
On Tuesday, the Ether machine revealed that it has raised $ 654 million in private financing, obtaining 150,000 ETH’s lawyer Jeffrey Berns, who will join the company’s board.
The increase supports a strategy to build a great ETH Treasury before its planned Nasdaq listing at the end of this year. The Ether machine now has more than 345,000 ETH and is on the way to making public with more than 495,000 ETH.
Bitmine Immersion Technologies, directed by Tom Lee de Fundstrat, added more than 150,000 eth to his treasure, which takes his total holdings to almost 1.87 million ETH, valued at around $ 8.1 billion.
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