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Chinese beauty app Meitu bought $40 million worth of cryptocurrency



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Following in the footsteps of Tesla, Chinese app maker Meitu has joined the ranks of cryptocurrency investment.
In the early 2010s, Meitu reached such dominance in the portrait touch-up space that its eponymous flagship app became a verb for “photo beautifying” in China. But in recent years, as smartphones became to offer built-in filters, photo editors like Meitu are struggling to hold their lead. Meitu’s stock shrank from HK$18 apiece in 2017 to less than HK$3 today.
As the company turns 13 years old and seeks alternative growth, it sets its eyes on cryptocurrency.
Meitu purchased 15,000 units of Ether and 379.1214267 units …

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