Caixin
Jul 05, 2022 07:52 PM
TECH INSIDER

Tech Insider: Crypto Bets Lose Beauty App a Pretty Penny, More Investment in Flying Cars

As of June 30, Meitu’s holdings in bitcoin and ether had a total market value of $50 million, the company said in the filing.
As of June 30, Meitu’s holdings in bitcoin and ether had a total market value of $50 million, the company said in the filing.

Welcome to Caixin’s Tech Insider, your twice-weekly wrap on the movers, shakers and deal-makers in China’s tech scene.

Meitu blames dud crypto investments as losses blow out

Chinese photo touch-up app maker Meitu Inc. said Sunday it believes that it lost between 275 million yuan ($41 million) and 350 million in the first half of 2022, more than double its losses in the prior first half, blaming big bets on cryptocurrencies that went south.

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