Jack Ma’s Yunfeng Financial Buys 10,000 Ethereum ($44M), Signaling Major Web3 Pivot

On September 2, Hong Kong-listed Yunfeng Financial disclosed an open-market acquisition of 10,000 Ethereum for a reported total cost of 44 million US dollars. The company is associated with prominent entrepreneurs Jack Ma and Yu Feng.

Although modest relative to Ma’s broader corporate footprint, the allocation holds clear symbolic significance, underscoring renewed attention from China’s first-generation internet leaders toward Web3 and blockchain-based infrastructure.

The transaction echoes Ma’s remarks at the 2020 Bund Financial Summit about the potential centrality of digital currency to future finance; the strategic exposure to ETH points to pragmatic interest in technologies such as blockchain, smart contracts and tokenization without asserting speculative outcomes.