July 25, 2024
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Joe Tsai, Alibaba’s vice chairman claims he “Likes” cryptocurrency

Joe Tsai, the executive vice-chairman of Alibaba, China’s largest online retail platform, made waves on Twitter earlier today when he stated, “I enjoy crypto.” The fact that China has taken a no-nonsense approach to crypto, prohibiting all forms of crypto mining and making crypto transactions illegal, has only added to its prominence.

“I like crypto” — Joe Tsai (@joetsai1999) December 28, 2021

So, Binance CEO Changpeng Zhao, who replies, “I like Joe.”

Despite the fact that the Chinese government has banned cryptocurrency more than a dozen times, Chinese crypto merchants frequently find a means to circumvent the restriction. Even after the government outright banned international exchanges, many Chinese crypto traders moved to Defi to avoid government scrutiny.

“I like Joe” — CZ 🔶 Binance (@cz_binance) December 28, 2021

Despite the government’s looming uncertainty, Non-Fungible Tokens (NFTs) have become very popular among Chinese artists and businesses. Despite a recent warning from the state media outlet, Baidu, China’s equivalent of Google, recently filed for NFT patents.

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