- He actively invests in Web3 projects and says he “loves” cryptocurrency
- Support for the industry from a businessman of this caliber could benefit global adoption
- Alibaba Group announced on Tuesday, June 20, a personnel reshuffle. Eddie Yunming Wu was named CEO and Joseph Tsai, who has a very supportive view of the cryptocurrency industry, was named chairman of the board.. The company aims to separate the technology services sector from retail sales.
As for Tsai, the cryptocurrency community has high hopes for his appointment. The fact is that Alibaba Group’s new CEO is an active investor in Web3.
In December 2021, he succinctly expressed his attitude towards the industry in one tweet:
“I love cryptocurrency.”</nbsp;
Cai’s asset management company, Blue Pool Capital, was a minority shareholder of FTX. The firm has participated in two rounds of fundraising.. He invested in Polygon, the Fast Break Labs Web3 platform, and several other projects. The support of the cryptocurrency industry by a businessman of this level, even in China, is a huge step towards the popularization and promotion of the sector.Recall that earlier Avalanche announced a partnership with Alibaba Cloud, Find more details at the link.
In the past, Avalanche announced a partnership with Alibaba Cloud.
Latest
Crypto-enthusiast Joseph Tsai becomes new chairman of Alibaba
