⚠️ AlibabaGroup has a new crypto proponent chairman! What could this mean for the company? Read more here -
Alibaba Group – a Chinese technology company specializing in e-commerce – announced that Joseph Tsai will replace Daniel Zhang as the entity’s new Chairman.
The Taiwanese-Canadian billionaire businessman is known as an advocate of the cryptocurrency industry, and his name has been involved with several digital asset projects. Recent sources revealed that Blue Pool Capital – an organization that manages the personal wealth of Tsai – participated in two of the funding rounds of the once-prominent crypto exchange FTX.his new role on September 10 this year, replacing Daniel Zhang.
The latter will continue leading Alibaba Cloud Intelligence Group, adding that he looks forward to working with the upcoming executives. He also vowed to make cloud computing and artificial intelligence more accessible for “businesses of all sizes and industries as they continue their digital transformation.”
Tsai highlighted Wu’s previous work as Chief Technology Officer of Taobao and Alipay, claiming he was “instrumental in architecting our technology platforms and guiding our strategic direction.” He raised hopes that Alibaba can keep growing under the new management by focusing on technology and innovation.“While our current transformation brings in a new corporate organizational and governance structure, Alibaba’s mission remains unchanged.
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