Asia’s Crypto Landscape: Ethereum Investment and Market Concentration
Jack Ma-backed Firm Invests in Ethereum-Based Insurance
A company co-founded by Alibaba’s Jack Ma, Yunfeng Financial Group, is strategically supporting the Ethereum ecosystem. Their latest move involves leading a $22 million Series A funding round for Anthea Holding Limited, a Bermuda-based cryptocurrency insurance provider.
Anthea Holding stated that these new funds will facilitate the launch of its inaugural life insurance product built on the Ethereum blockchain. The company also plans to expand its operations across the Asian market.
This investment follows Yunfeng Financial’s acquisition of 10,000 ETH, valued at approximately $44 million, just over a month prior. This Ether acquisition is intended to serve as a strategic reserve for tokenizing real-world assets and for applications within decentralized finance (DeFi) insurance.
South Korea’s Market Dynamics: Whales Dominate
In other developments across Asia, a significant concentration of wealth is evident in South Korea’s cryptocurrency market. Data indicates that a small number of large holders, often referred to as “whales,” account for 91% of the market share. This highlights a highly consolidated ownership structure within the region’s digital asset space.
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