{"id":80507,"date":"2023-06-20T16:47:00","date_gmt":"2023-06-20T13:47:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=80507"},"modified":"2025-09-11T17:24:13","modified_gmt":"2025-09-11T14:24:13","slug":"crypto-advocate-set-to-become-alibabas-new-chairman-of-the-board","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/crypto-advocate-set-to-become-alibabas-new-chairman-of-the-board\/","title":{"rendered":"Crypto advocate set to become Alibaba&#8217;s new chairman of the board"},"content":{"rendered":"<p>Alibaba&#8217;s co-founder Joseph Tsai<a href=\"https:\/\/www.businesswire.com\/news\/home\/20230619481579\/en\/Alibaba-Group-Announces-Chairman-and-CEO-Succession-Plan\"> will replace<\/a> Daniel Zhang as chairman of Alibaba&#8217;s board.<\/p>\n<p>The changes will take effect on September 10, 2023.<\/p>\n<p>Before his appointment, Tsai was Zhang&#8217;s deputy.<\/p>\n<p>The entrepreneur, whose fortune is estimated at $7.8 billion, is known as a proponent of digital assets. In 2021 he admitted to a &#8216;love for cryptocurrencies&#8217;.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">I like crypto<\/p>\n<p>\u2014 Joe Tsai (@joetsai1999) <a href=\"https:\/\/twitter.com\/joetsai1999\/status\/1475705992964763655?ref_src=twsrc%5Etfw\">December 28, 2021<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In January 2023, FTX court filings showed that Tsai&#8217;s venture firm Blue Pool Capital backed the<a href=\"https:\/\/forklog.com\/en\/news\/ftx-group-files-for-bankruptcy-sam-bankman-fried-resigns-as-ceo\"> that filed for bankruptcy<\/a> platform.<\/p>\n<p>According to <a href=\"https:\/\/www.crunchbase.com\/organization\/blue-pool-capital\/recent_investments\"> Crunchbase<\/a>, the company participated in 25 funding rounds, including six \u2014 as lead investor. Blue Pool Capital exited six projects, including Animoca Brands.<\/p>\n<p>In July 2021, Tsai&#8217;s firm was among participants in an investment round for an NFT-game developer <a href=\"https:\/\/forklog.com\/en\/news\/nft-game-developer-animoca-brands-raises-50-million-from-coinbase-ventures-and-other-investors\">for $50 million<\/a>. Earlier Blue Pool Capital<a href=\"https:\/\/forklog.com\/en\/news\/nft-project-the-sandbox-raises-93-million-to-build-a-metaverse\"> supported<\/a> the project The Sandbox. <\/p>\n<p>According to <a href=\"https:\/\/www.theblock.co\/post\/235585\/crypto-curious-joseph-tsai-to-take-over-as-chair-at-alibaba\">The Block<\/a>, the news of Tsai&#8217;s appointment sparked speculation about possible lifting of China&#8217;s cryptocurrency restrictions.<\/p>\n<p>These conjectures are reinforced by the authorities&#8217; recent publication of the White Paper on Web3 Innovation and Development (2023). In the document, the technology was described as the &#8216;inevitable trend for the future development of the internet industry&#8217;.<\/p>\n<p>Earlier, in May 2023, the Avalanche team<a href=\"https:\/\/forklog.com\/en\/news\/avalanche-and-alibaba-forge-partnership-to-develop-metaverses\"> agreed to collaborate<\/a> with Alibaba Cloud to create a platform for deploying <a href=\"https:\/\/forklog.com\/en\/news\/what-is-the-metaverse\">metaverses<\/a>.<\/p>\n<p>Earlier the cloud services provider<a href=\"https:\/\/forklog.com\/en\/news\/alibaba-cloud-to-open-division-for-web3-game-development\"> announced<\/a> the launch of a &#8216;blockchain-laboratory&#8217; in Japan to build Web3 games.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Co-founder Joseph Tsai will replace Daniel Zhang as chair of Alibaba&#8217;s board.<\/p>\n","protected":false},"author":1,"featured_media":80508,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[640,83,1110],"class_list":["post-80507","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-alibaba","tag-business","tag-web-3-0"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80507","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=80507"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80507\/revisions"}],"predecessor-version":[{"id":80509,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80507\/revisions\/80509"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/80508"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=80507"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=80507"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=80507"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}