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DeepNewz, mobile.
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Chinese photo editing app developer Meitu announced on December 4 that it has sold its entire cryptocurrency holdings, which included 31,000 Ethereum and 940 Bitcoin, for approximately $180 million. This sale generated a profit of about $79.6 million, with the company planning to allocate 80% of the proceeds towards special dividends. The liquidation of its cryptocurrency assets occurred just as Bitcoin approached the $100,000 mark, marking a significant moment for the company. Meitu aims to refocus its efforts on imaging and product design following this divestment.
Meitu has sold all its acquired crypto (ether and #bitcoin) since December 4th https://t.co/gAujuLAAqa
On December 4th, @Meitu_global announced that it had liquidated its #cryptocurrency holdings, making a #profit of approximately 571 million yuan. https://t.co/8E7BXRV5Bn
On 4th December, Chinese company Meitu announced that it sold all of its cryptocurrency holdings for a profit of about RMB 571 million. The board plans to use 80% of profits to pay a special dividend, and shared that it will focus more on its imaging and product design. #China https://t.co/gtLxEHulEC
