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Bitmain Ousted Co-Founder from Board Showing Clash in Management

“Crypto miner maker Bitmain is going through a power tussle in its management as it recently ousted Micree Ketuan Zhan, the co-founder and executive director of the company” writes Arnab Shome for financemagnates.com. Reported by Bloomberg on Tuesday, the decision of the company was communicated to the employees by Jihan Wu, co-founder and present chairman of the Chinese company, with the circulation of an internal memo.This power tussle came at a time when the company is pushing to list its shares publically but failed in multiple markets.Being majority shareholders of the company, both of them held their seats on the board and appointed at key roles to guide the company for strategic decisions.
 
Source: financemagnates.com



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