Chinese e-commerce platform "Mogujie" will invest US$20 million in cryptocurrency and related investment products

Odaily Planet Daily News According to the US SEC, the board of directors of China's fashion e-commerce platform Mogujie (NYSE: MOGU) has approved a strategic asset allocation plan to allocate up to US$20 million of company assets into digital currencies, mainly including Bitcoin, Ethereum and Solana, as well as related securities and investment products. The board of directors believes that by integrating digital assets into core assets, the company can not only diversify its capital reserves, but also enhance its operational capabilities to support the next generation of artificial intelligence products and services. The board of directors has authorized Chairman Chen Qi to decide the timing and amount of the digital currency acquisition.