On September 2, 2025, Yunfeng Financial Group, a Hong Kong-listed firm linked to Alibaba co-founder Jack Ma, announced the purchase of 10,000 ETH worth $44 million to establish an Ethereum treasury strategy, per CoinDesk and Cointelegraph. This acquisition, funded from internal cash reserves, positions ETH as a strategic reserve asset to support Web3, real-world asset (RWA) tokenization, digital currencies, and AI initiatives unveiled in July 2025, per. Yunfeng’s shares rose 9.55% to HK$3.67 (47 U.S. cents) following the news, reflecting market optimism, per. The move aligns with growing institutional interest in ETH, following firms like SharpLink Gaming and Bitmine Immersion Technologies, per.
Yunfeng, majority-owned by Yunfeng Capital (co-founded by Ma in 2010), aims to reduce reliance on traditional currencies and integrate ETH into operations like insurance and asset management, per. The board views ETH as infrastructure for RWA tokenization, enabling 24/7 trading and fractional ownership, per Cryptopolitan. This treasury strategy mirrors MicroStrategy’s Bitcoin approach but focuses on Ethereum’s smart contract capabilities, per. Jack Ma’s indirect 11.15% stake via Yunfeng Fund underscores the significance, positioning the firm as a bridge between traditional finance and Web3, per. ETH trades at $4,264, down 2.12% in 24 hours, with a $567B market cap, per CryptoSlate.
Amid this news, GoldenMining (goldenmining.cc) promotes ETH mining contracts promising up to 3 ETH daily earnings, per Thecryptoupdates. Contracts range from $15 (reward $0.6) to $300,000 (reward $307,500), with daily USD settlements convertible to ETH or other cryptos, per. Features include $15 registration bonus, green energy (solar/wind), SSL encryption, AIG insurance, 24/7 support, multi-currency support (ETH, BTC, XRP, DOGE, SOL, LTC, USDT, USDC, ADA), and a 3%+2% referral program, per. Users rent computing power from 90 global farms using ETH for payments, avoiding hardware costs, per.
Yunfeng’s investment is credible, signaling institutional ETH adoption and potential for RWA growth, per. However, GoldenMining raises red flags. No verifiable evidence ties it to Jack Ma or Yunfeng; searches yield no legitimate connections, per. Cloud mining platforms like this often promise unrealistic returns (7,500% APY in similar scams), using Ponzi mechanics where early payouts lure victims, per FTC and Scam Detector. GoldenMining.com has a low trust score (40.4/100), with indicators of suspicious hosting and hidden ownership, per. Trustpilot reviews (4 stars from 12 users) appear fabricated, praising ease but lacking depth, per. X posts label it a scam, citing “fantasy” claims like UK government protection, per. Similar platforms (e.g., Hashflare, Genesis Mining) have collapsed or been exposed as frauds, per Brave New Coin.
