Breaking: Alibaba vice chairman says he “likes crypto”
Executive vice-chairman of China’s biggest online retail platform Alibaba, Joe Tsai took Twitter by storm earlier today when he tweeted “I like crypto.” What made it even more prominent is the fact that China has taken a no-nonsense policy against crypto banning all forms of crypto mining and declaring crypto transactions as illegal.
I like crypto
— Joe Tsai (@joetsai1999) December 28, 2021
Binance CEO Changpeng Zhao was quick to notice the tweet and responded with “I like Joe.” While the Chinese government has banned crypto more than a dozen times, but Chinese crypto traders often find a way to bypass the ban. Even after an all-out ban on foreign exchanges, many Chinese crypto traders turned to Defi to sweep under the radar of government surveillance.
I like Joe https://t.co/axjaRtPoe3
— CZ 🔶 Binance (@cz_binance) December 28, 2021
Non-Fungible Tokens (NFTs) have got very popular among Chinese artists and businesses despite a looming uncertainty from the government. Recently, Baidu, the Chinese equivalent of Google filed for NFT patents despite a recent warning issued by the state media outlet.
How will Alibaba’s vice-chairman’s comment play out?
It is not new for Chinese tech giants to show interest in emerging technologies unless and until they are warned by the state authorities. Last year, a press release from Alibaba group hinted at possible crypto payment integration leading to worldwide media attention, but the firm had to later retract the comments and said they won’t be adding any foreign crypto option until the government’s approval. China has made it clear that anything apart from its CBDC would be deemed illegal for use.
Alibaba’s former executive Chief Executive Officer (CEO) and founder Jack Ma was also at the center of media attention around the world after he suddenly vanished from the public eye reportedly after criticizing the government over its policies. Thus it is to be seen how the recent comments on crypto by the executive vice-chairman play out.
- Breaking: Ripple Partners With Bahrain’s Fintech Bay in Push for RLUSD Adoption
- XRP News: Why Whales Sold 440M Coins in a Month Despite ETF Launch Buzz
- Just In: DeFi Dev Corp Launches Japan’s First Solana Treasury Company, SOL Price Reacts
- Pi Network Mainnet to Get Major Upgrade in Q4, Says Expert
- Bitwise Solana ETF to Launch This Week as It Amends Staking, Fees? Bloomberg Weighs In
- Bitcoin Price Prediction as US Govt. Shutdown Extends- What’s Next for BTC?
- Solana Price Megaphone Points to a Parabolic Move as SOL Treasuries Near $3B
- XRP Price Prediction Amid ETF Approval Roadblock as Analyst Warns of $2.72 Dip
- Binance Coin Price Prediction If It Surpasses Bitcoin Marketcap— Is $3000 Possible in 2025?
- ASTER vs HYPE Price Analysis – Which Perp DEX Token Looks Poised to Dominate Q4 Performance?
- Ethereum Price Could Soar to $6,500 as BlackRock’s ETF Nears $20B Milestone
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
