Crypto supporter Joseph Tsai becomes the new chairman of Alibaba
Crypto supporter Joseph Tsai becomes the new chairman of Alibaba
The Alibaba Group-a Chinese technology company specializing in e-commerce-announced that Joseph Tsai Daniel Zhang will replace the new chairman of the company.
The Taiwanese-Canadian billionaire is known as the advocate of the cryptocurrency industry and his name was involved in several projects for digital assets. The latest sources revealed that Blue Pool Capital-an organization that manages the personal assets of Tsai-was involved in two financing rounds of the once significant crypto exchange FTX.
Changes at the top
Tsai, which is currently acting as an executive Vice Chairman, will take up his new role on September 10 of this year and replace Daniel Zhang. Eddie Yongming Wu, for his part, becomes Chief Executive Officer of the Alibaba Group and takes over Zhangs on the board.
The latter will continue to lead the Alibaba Cloud Intelligence Group and adds that he is looking forward to working with future managers. He also promised to make cloud computing and artificial intelligence for "companies of all sizes and industries to continue their digital transformation".
Tsai emphasized earlier work as Chief Technology Officer of Taobao and Alipay and claimed that he was "significant in the architecture of our technology platforms and the management of our strategic orientation". He expressed hope that Alibaba can continue to grow under the new leadership by focusing on technology and innovation. "While our current transformation brings a new organizational and governance structure for the company, the mission of Alibaba remains unchanged. We will continue to enable individuals and companies to benefit from the digital economy and to offer our customers a unique promise of value that is supported by innovation and our leading technology" Wu. The Taiwanese-Canadian businessman, whose net assets are estimated at almost $ 8 billion, has shown his positive view of the digital asset sector over the years. Some of his first comments came at the end of 2021 when he simply tweeted : "I like crypto."
His name was once again connected to the industry in February 2022, as a Blue Pool Capital (Tsai employs as his family office) Span Data Preserver-Spaces = "True"> participated Led Donation campaign by Artifact Labs in March of this year. However, not all investments in this area were successful. South China tomorrow Post Unveiled At the beginning of this year Blue Pool Capital took over in two financing rounds in FTX. remember that the stock exchange registered bankruptcy in November 2022, which was one of the greatest broken breaks in the history of cryptocurrencies. . Tsais Pro crypto posture
Joseph Tsai, The New York Times