On Jan. 10, news emerged that Chinese mining giant Bitmain’s co-founders, Jihan Wu and Micree Zhan Ketuan, will step down as co-CEOs of the company. The move follows a streak of reports suggesting that Bitmain has been facing mass layoffs, class action lawsuits and difficulties related to its initial public offering (IPO) during the last quarter of 2018. So what exactly is happening with one of the world’s most influential crypto outfits?

Brief introduction to Bitmain, the world’s most powerful crypto mining giantBitmain was founded in 2013 by Jihan Wu and Micree Zhan Ketuan. Prior to that, Wu was a private equity fund manager who studied economics and psychology at Peking University, while Zhan, a graduate of the Chinese Academy of Sciences, was trying to raise funds for a startup that allowed users to stream television shows to a computer screen via a set-top box.

Continue Reading on CoinTelegraph

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

READ  RBI Denies Creating Crypto, Blockchain and AI Research UnitRBI Denies Creating Crypto, Blockchain and AI Research Unit





Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here