TechFlow, June 3 — Meitu CEO Wu Xinhong said in a recent interview with LatePost that he remains cautious about the company's past cryptocurrency investments, stating, "I don't want to comment on cryptocurrencies because it's already a thing of the past." During 2018–2019, Meitu faced difficulties due to blind diversification and expansion, was forced to cut 60% of its workforce, and returned to its core image tools business.
Earlier reports indicated that as of December 4, 2024, Meitu had sold all of its cryptocurrency holdings, totaling approximately 31,000 Ethereum and 940 Bitcoin, receiving total cash proceeds of about $100 million and $80 million respectively, realizing gains of approximately $79.63 million (around 571 million RMB).
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