Global trade giant Alibaba has stated that the name to take the role of chairman in September is Joseph Tsai, a pro-crypto.
Amid the institutional perception of cheap Bitcoin and the cautious shift towards crypto, a new move has come from Alibaba. Alibaba announced the changes to its board of directors. The most striking detail among these changes was the attitude of the new president towards crypto.
Alibaba’s new president is Joseph Tsai, who has previously said he loves crypto.
Alibaba Has a President Who Loves Crypto
Global giant Alibaba has appointed Joseph Tsai, a crypto-loving and active Web3 investor, as the company’s Chairman of the Board.
Alibaba made changes within the company and announced its new planning. The global giant brought important names to the positions of Chairman of the Board and CEO. Joseph Tsai became the Chairman of the Board, while Eddie Yongming Wu became the CEO.
The name that stood out here was Tsai. Tsai said in a tweet in 2021 that he loves crypto.
I like crypto
— Joe Tsai (@joetsai1999) December 28, 2021
It is noteworthy that Alibaba has included a crypto-friendly name on the management side, as Alibaba accelerates its blockchain initiatives and strives to be at the lead of new technologies.
Also, according to documents from the FTX bankruptcy court, Blue Pool Capital, which Tsai used as his family office, was one of FTX’s shareholders. Tsai was often thrown into such ventures. The new head of Alibaba has also been involved in various Web3 initiatives.
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