Yunfeng Financial has announced that its board has approved the purchase of Ethereum (ETH) on the open market to serve as a reserve asset. The company has acquired a total of 10,000 ETH at a cost of $44 million, funded from its internal cash reserves. The acquired ETH will be recorded as an investment asset on the company's financial statements. Notably, Alibaba founder Jack Ma is a significant associate of Yunfeng Financial.
Yunfeng Financial Acquires 10,000 ETH as Reserve Asset
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.