Alibaba founder Jack Ma is once again showing interest in Ethereum. His company, Yunfeng Financial, has backed a new Ethereum-based insurance project called Anthea Holding, reports Cointelegraph.
⚡ INSIGHT: Alibaba founder’s company backs another Ethereum-based project, South Korean whales account for 91% of the market.
Asia Express via Cointelegraph Magazine pic.twitter.com/2o4nEpJtBL
— Cointelegraph (@Cointelegraph) October 10, 2025
Anthea, based in Bermuda, raised $22 million in Series A funding to develop life insurance products that use Ethereum technology. The project aims to make insurance faster, cheaper and more transparent by using blockchain. Yunfeng Financial led the funding round, showing its growing trust in Ethereum’s potential beyond cryptocurrency trading.
From Doubt to Belief: Jack Ma’s Changing View on Crypto
A few years ago, Jack Ma was doubtful about Bitcoin and other digital currencies. He warned people to be careful and called Bitcoin a bubble. But his recent actions show that his view has changed.
Through Yunfeng Financial, Ma has been slowly investing in crypto-related companies outside China. The latest move of supporting an Ethereum-based insurance platform suggests that he now sees blockchain as a key part of the future financial system.
Ethereum’s use in real-world finance is expanding fast. By investing in Anthea, Yunfeng is betting that Ethereum can help to connect traditional finance with the digital world. Reports also show that Yunfeng recently bought 10,000 ETH, worth about $44 million, to use as a strategic reserve for blockchain projects.
South Korean Whales Control 91% of the Market
While Chinese investors explore Ethereum projects, South Korea’s crypto market is showing another trend. A new report by Cointelegraph revealed that South Korean crypto whales control 91% of the total trading volume on major exchanges.
Basically, this means that most crypto trading in South Korea is done by a small group of big investors or institutions. These whales have huge control over market prices and liquidity. When they buy or sell, prices can rise or fall very fast.
This has made the market risky for the small traders. Many retail investors say that they struggle to compete or predict price moves in such a whale-driven market. Analysts think this level of control might soon get more attention from financial regulators.
What This Means for Asia’s Crypto Scene
The two stories show how fast the Asian crypto market is changing. On one side, a major investor like Jack Ma is backing Ethereum projects that aim to build real-world financial tools. On the other, South Korea’s market shows how power can still be controlled by a few big players.
Experts say that the future of crypto in Asia will depend on finding a balance between innovation and fair market access. If projects like Anthea succeed, Ethereum could become a trusted platform for banks, insurers and governments. However, the region must also address market dominance to keep small investors safe and ensure long-term stability.
In short, Asia’s crypto story is a mix of trust, transformation and challenge. From Jack Ma’s new faith in Ethereum to the whale-driven Korean market, Asia’s role is growing fast. The continent remains one of the most active and influential forces in the global crypto world.
