News Snapshot:
A 27-year-old executive of blockchain firm Beosin has reportedly been accused of misappropriating $45 million worth of state-owned bitcoins by Chinese authorities. According to a report by local media outlet Tencent News on Thursday, Chief Marketing Officer Gao Ziyang allegedly attempted to short the state’s bitcoin last year. The funds were in the company’s care after police had seized them in a separate incident. Beosin was charged with holding and converting the bitcoin to fiat on behalf of the Chinese treasury where Gao had access. Read more: PayPal Co-Founder, Bitcoin Investor Thiel Says Bitcoin Could Be Chinese ‘Weapon’ Rather than...
