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Crypto Proponent Joseph Tsai Becomes the New Chairman of Alibaba

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. Tsai, who currently serves as Executive Vice Chairman, will step into his new role on September 10 this year, replacing Daniel Zhang.

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