Is Alibaba about to embrace crypto? With the upcoming leadership transition, the possibility is definitely on the table. Alibaba (NYSE: BABA) said on Tuesday that Joseph Tsai, one of its founders, will step into the role of Chairman come September. This leadership shuffle, which Alibaba has revealed its leadership transition plans, with the pro-crypto Joseph Tsai set to replace long-time chief Daniel Zhang as the new Chairman, has the crypto world buzzing.

Why all the excitement? It boils down to the new chairman's reported views on digital assets. An executive from Alibaba Group, the leading e-commerce platform in China, has announced that he likes cryptocurrencies. This sentiment, coming from Joe Tsai, co-founder and vice chairman at Alibaba, who has often been called Jack Ma’s right hand man, carries significant weight.

Joe Several from the space contend that Beijing likely warming up to crypto. Now, with Tsai as the New Chairman in such a scenario, Alibaba could perhaps be prepping to explore blockchain technology and digital currencies more openly. Given the regulatory environment surrounding digital assets, this would be a major shift, and one that could have a ripple effect throughout the entire Chinese tech landscape. While the executive vice-chairman for Alibaba, Joe , Tsai's influence as Chairman will undoubtedly be substantial.

Keep checking back for updates as this story develops. Will Alibaba become a major player in the crypto space? The appointment of Joseph Tsai as Chairman is a signal that change is potentially coming.