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Cyber Bitcoin
Edited by qqqpeter at 2019-10-31 18:39

News.QQ.com reported that bitcoin prices have returned to the market recently, following the world's second-largest mining machine manufacturer, Canaan, to go IPO in the US. The world's largest miner producer, Bitmain has submitted a listing application to the US Securities and Exchange Commission. The sponsor is Deutsche Bank.

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Image from Insidebitcoins.com

Hired the former representative of Nasdaq's former China region


However, a few days ago, the Bitmain suddenly broke the news of the founder's break. Chairman and co-founder Wu Jihanhan announced that he would dismiss another founder, Zhan Ketuan. News.QQ.com reported that the company's listing plan has always been dominated by Wu Jihan and CFO Liu Luyao, and the Zhan Ketuan has participated less. Bitmain has even hired Zheng Hua, the former representative of Nasdaq's former China region, as the company's consultant to remove the listing obstacle.

Gambling agreement with shareholders of rounds A and B

Bitmain submitted its listing application to the Hong Kong Stock Exchange in September last year. The application for listing in March this year expired. After reviewing its listing documents, the company had signed a “gambling agreement” with shareholders of rounds A and B. If Bitmain failed to complete the listing by August 2022, the company would have to repurchase the shares.

Founder broke. Zhan Ketuan was fired

In addition, the day before the news of the listing of Bitmain, the company suddenly broke out with major personnel changes. At the beginning of this year, founders Wu Jihan and Zhan Ketuan resigned as co-CEOs on the grounds of “lack of management experience”. However, there is internal media that Wu Jihan issued an internal mail announcement on 29th Oct to release all positions of the Zhan Ketuan on Bitmain, and it will take effect immediately.
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