China's CBDC Founder Yao Qian Under Investigation for ICO Bribery

2026-01-15 11:34

Yao Qian, the founder of China's Central Bank Digital Currency (CBDC) and recognized as one of Coindesk's Top 10 Most Influential People in 2017, is under investigation by the Chinese government. He is accused of facilitating an Initial Coin Offering (ICO) in 2018 that raised 20,000 ETH and allegedly accepting a bribe of 2,000 ETH. The investigation also reveals that Yao sold some of the Ethereum holdings when the price was approximately $4,000 in 2021. These allegations come as part of a broader crackdown on cryptocurrency activities by Chinese authorities.

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