Alibaba Group Holding Ltd – ADR (NYSE:BABA) chairman and co-founder Joe Tsai is showing appreciation for the cryptocurrency industry.
What Happened: “I like crypto,” Tsai tweeted on Monday night without any context or earlier tweets the would provide context to the statement. Changpeng Zhao — the CEO of the world’s top cryptocurrency exchange Binance — quickly answered the tweet with a simple statement “I like Joe.”
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Tsai — who owns the NBA’s Brooklyn Nets and has a estimated net worth of about $8.7 billion — is no stranger to blockchain technology, considering that Alibaba financial technology subsidiary Alipay is a major investor in this industry. His statement follows Brooklyn Nets player Kevin Durant partnering with major United States cryptocurrency exchange Coinbase Global Inc.(NASDAQ:COIN) in a multi-year deal in which Durant will become an advertising face for the exchange.
Furthermore, earlier this year Tsai entertained the idea of the Brooklyn Nets issuing fan tokens and non-fungible tokens (NFTs) to find new ways to connect with team supporters, along with a new source of income for the Nets.
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