Standing in front of a group of local Chinese TV and radio reporters earlier this year, Arcadia City Councilman John Wuo spoke about an investment opportunity called Gemcoin, a digital currency in the vein of bitcoin that he called a "breakthrough in finance."
"This is cutting edge," said Wuo, flanked by Gemcoin executives. "This has great potential for our economy."
At another appearance in May, Wuo took the stage at a conference in Los Angeles and lavished praise on Steve Chen, the founder of the company launching the currency, calling him "one of the quickest thinkers" he had ever known.