December 30, 2021

Alibaba Gives Latest 'Hints' To Enter The Crypto World?

 Vice chairman of global retail giant Alibaba Joe Tsai today posted a short statement on his Twitter page. Where this statement has prompted speculation among crypto market players as well as stock investors.


In a tweet containing the 3 words, he stated that “I love crypto”. Interestingly this brief statement was issued amid Chinese principles and crackdowns on acting to ban anything related to crypto altogether. At the same time, the Chinese government also declared crypto transactions as illegal.


I like crypto


- Joe Tsai (@joetsai1999) December 28, 2021


 


I like Joe https://t.co/axjaRtPoe3


- CZ 🔶 Binance (@cz_binance) December 28, 2021



Binance CEO Changpeng Zhao responded quickly by replying to the tweet as “I love Joe”. Although the Chinese government has banned crypto many times it has not dampened the spirit of those involved with crypto. Chinese retail players and the crypto industry often find ways to circumvent the ban. Many among Chinese crypto traders turned to Defi to prevent their activities from being sniffed out.


At the same time, Non-Fungible (NFT) tokens have become very popular among Chinese artists and businesses despite the uncertainty of government behavior.


Recently, Baidu, a Chinese-language web search site has filed for an NFT patent despite a warning issued recently.


Thus the involvement of giant companies like Alibaba is not a new thing for them to show interest in blockchain technology. Last year, Alibaba had expressed a desire to develop the integration of crypto payments but the statement was withdrawn for some reason until it received government approval.


Former Alibaba executive CEO and founder Jack Ma has also become the focus of media attention around the world after he suddenly disappeared from public view after criticizing the government over its policies.


So with the latest statement from the Vice Chairman of Alibaba will be the attention of the masses.