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Bitmain’s Wu Jihan is back

Bitmain’s Wu Jihan is back Wu Jihan, co-founder of the world’s largest bitcoin mining company Bitmain, has ousted co-founder and executive director Zhan Ketuan to become the sole leader of the company. “Zhan Ketuan dismissed from all roles … staff shall no longer take any direction from Zhan” Join:D exclusively secured an important notice email that Wu sent to Bitmain staff members on Tuesday. According to the email, Wu “decided to dismiss Zhan Ketuan from all roles, effective immediately.” Wu added that “Bitmain staff shall no longer take any direction from Zhan, or participate in any meeting organized by Zhan. Bitmain may, based on the situation, consider terminating the employment contracts of those who violate this note.” Soon after sending out the notice, Wu sent another notice saying that a human resources executive that Zhan Ketuan hired in late 2018 was also dismissed. The vacant position was handed over to a human resources specialist who worked with Wu in the early years of Bitmain. Wu also held an all-staff meeting and emphasized that he “had to come back to save the company.” Dispute between Wu and Zhan … the change was expected According to Bitmain employees, Wu and Zhan stepped down from the CEO positions earlier this year, citing a lack of experience, handing control to Haichao Wang. The two agreed to stay out of management and only participate when making important decisions. But Zhan took back control and threatened Wu’s place in the firm. Wu and his supporters and clients had issues with Zhan coming back to management and were looking to oust Zhan and his people. "The future is bright for Bitmain led by Wu" Haipo Yang, founder of Chinese mining pool ViaBTC and cryptcocurrency exchange CoinEx, said on Weibo that the return of Wu is good news for Bitmain. “Jihan Wu is founder of Bitmain and a pioneer of the Chinese cryptocurrency industry for translating the first Chinese bitcoin white paper,” Yang said. “He opened the golden age for Bitmain but later had to step down from management. As a result, Bitmain collapsed and Wu eventually returned. Under Wu’s lead, Bitmain will face another golden age.”

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