JACK MA'S YUNFENG FINANCIAL SPENDS $44 MILLION IN ETH TO SUPPORT WEB3 STRATEGY AND Tokenize TOKENIFICATION 🔹 Yunfeng Financial Group, a Hong Kong-listed company backed by Jack Ma, purchased 10,000 ETH (~$44 million) using internal funds. 🔹 Simply put, Jack Ma’s Yunfeng Capital, the company he co-founded, controls Yunfeng Financial Group. Through this structure, Jack Ma indirectly holds about 11.15% of Yunfeng Financial’s shares. The name “Yunfeng” is a combination of the two founders’ names: “Yun” from Jack Ma (Ma Yun) and “Feng” from David Yu. 🔹 The company will record ETH as an investment asset on its balance sheet to diversify its portfolio and reduce its dependence on fiat currencies. 🔹 ETH was chosen as a strategic reserve asset to support expansion plans into Web3, Tokenize of real assets (RWA), digital currencies, artificial intelligence, and DeFi related innovation. 🔹 Yunfeng also plans to research the application of Ethereum in the insurance sector and develop new business models related to decentralized finance.