E-commerce platform Mogujie will allocate up to US$20 million of company assets into digital currency

Mogujie (NYSE: MOGU), a Chinese fashion e-commerce platform listed in the United States, said in its SEC filing that the board of directors approved a strategic asset allocation plan to allocate up to $20 million of corporate 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.