Crypto Proponent Joseph Tsai Becomes the New Chairman of Alibaba

The billionaire, who has shown sympathy toward the cryptocurrency sector, will start serving in the new position on September 10, 2023.

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.