Bitmain Denies Reports That CEO Jihan Wu Was Ousted From Its Board
Bitcoin mining giant Bitmain has denied widely circulated reports that its co-CEO, Jihan Wu, has been ousted from the board of BitMain Technologies Holding Company, the entity currently seeking to go public on the Hong Kong Stock Exchange (HKEX).
The news first emerged on a Chinese cryptocurrency media site on Monday, which suggested that Wu and several other executive directors had left their positions at a different entity, Beijing Bitmain Technology Limited.
The report further cited a lawyer, not affiliated to Bitmain, who said the change meant Wu would no longer have executive power over Bitmain’s operations. However, the report did not state clearly whether that comment was referring to Beijing Bitmain Technology or the holding company.
Various media reports have subsequently cited the news and alleged that Wu is no longer at the board of the holding company and hence has no voting power on the firm’s…