With the approval of the board of directors of Alibaba Holding Group, Cai Chongxin, executive vice chairman of the group, will serve as the chairman of the board of Alibaba Holding Group in September. Wu Yongming became the CEO of Alibaba Holding Group, and at the same time continued to serve as the chairman of Taotian Group.

It is reported that Cai Chongxin is a supporter of cryptocurrency and publicly claimed in 2021 that he "likes encryption". In January this year, court documents disclosed that Cai Chongxin's family office, Blue Pool Capital, had participated in FTX's previous B-1 round of financing. It is reported that Tsai Chongxin also participated in Polygon’s February 2022 financing, Web3 sports platform Fast Break Labs’ fundraising, and NFT platform Artifact Labs’ May 2023 financing.