1 week ago
Hong Kong-listed Yunfeng Financial purchased $44 cardinal of ETH to enactment its enlargement into Web3, real-world assets and tokenized finance.
Yunfeng Financial Group, a Hong Kong-listed institution with ties to Alibaba laminitis Jack Ma, acquired 10,000 ETH (worth astir $44 million) successful a determination to deepen its Web3 expansion.
The purchase, disclosed successful a voluntary announcement connected Tuesday, was funded done interior currency reserves. The determination follows a caller announcement by Yunfeng outlining its push into Web3, real satellite assets (RWA), integer currency and artificial intelligence.
According to the company, Ether (ETH) was chosen arsenic a reserve plus to enactment RWA tokenization, technological innovation and the broader integration of concern with Web3 infrastructure.
“The Board believes that the ETH’s inclusion arsenic the Company’s strategical reserve assets is accordant with the Group’s layout of enlargement into frontier areas, including Web3, and provides cardinal infrastructure enactment for Real World Assets (RWA) tokenization activities,” the institution said.
Top 15 Ether treasury companies. Source: StrategicETHReserve Related: Ethereum L2 Starknet suffers 2nd mainnet outage successful 2 months
Yunfeng to classify ETH arsenic concern asset
ETH volition beryllium reflected arsenic an concern plus connected Yunfeng’s equilibrium sheet. “The ETH are accounted for arsenic investments successful the fiscal statements of the Group,” per the announcement.
The institution besides noted that ETH holdings would assistance diversify its plus basal and trim reliance connected accepted fiat currencies. Yunfeng besides plans to research Ethereum's imaginable exertion successful security operations and caller concern scenarios tailored to decentralized finance.
Yunfeng Financial is simply a Hong Kong-listed fiscal exertion radical that provides concern and financing services, including brokerage, plus management, insurance, and fiscal exertion solutions. Jack Ma is simply a cardinal subordinate of Yunfeng Financial.
Related: Ethereum to unopen down its biggest testnet Holesky aft Fusaka fork
Ether Machine raises $654 cardinal successful ETH
On Tuesday, The Ether Machine revealed that it has raised $654 million successful backstage financing, securing 150,000 ETH from longtime Ethereum advocator Jeffrey Berns, who volition articulation the company’s board.
The rise supports a strategy to physique a ample ETH treasury up of its planned Nasdaq listing aboriginal this year. The Ether Machine present holds implicit 345,000 ETH and is connected way to spell nationalist with much than 495,000 ETH.
BitMine Immersion Technologies, led by Fundstrat’s Tom Lee, added much than 150,000 ETH to its treasury, bringing its full holdings to astir 1.87 cardinal ETH, valued astatine astir $8.1 billion.
Magazine: Bitcoin is ‘funny net money’ during a crisis: Tezos co-founder
English (US) 