Bitmain Becomes EOS Block Producer

Media: Bitmain co-founder faces jail due to self-capture of the company

  • Bitmain co-founder could face jail for forging company resolution.

  • There are no official statements from Bitmain yet.

  • The redistribution of power in the company has been going on since the end of 2019.

International consortium of news organizations developing transparency standards.

The scandal over the reign of the popular manufacturer of mining equipment takes a new turn.

Bitmain co-founder Jihan Wu faces jail time for forging company documents to take over Bitmain.

This was announced on her Twitter page by the head of marketing at HashKey Hub Molly (@molllliy) with reference to the statement of Bitmain founder Mikri Jean.

Earlier, the editorial staff of BeInCrypto wrote that Jean hired a private security organization in Beijing to regain control of the company..

As a result of the return of control, Jean urged former Bitmain employees to “take the opportunity” and return to the office.

However, the story around the conflict at Bitmain with the return of control over the Beijing office did not end..

Later, Jean began to “interfere” with workers at a warehouse in Shenzhen to send ASICs, which caused delays in the supply of mining farms..

As a result, one of the largest manufacturers of cryptocurrency mining equipment Bitmain temporarily stopped supplying ASICs.

Power of resolution

In a new statement, Jean claims that Wu forged the resolution of the shareholders meeting with which he was able to subsequently dismiss Jean as director of the company..

However, there is no official confirmation from Bitmain about a possible lawsuit against the company’s co-founder..

The current head of Bitmain accuses Jihan Wu of “putting his will above the laws, illegally squandering company property and putting his own interests ahead of the interests of the company.”.

Jean stressed that if Wu really violated at least one of the above points, he could face legal consequences up to and including imprisonment..

Ineffective decisions

The conflict in the top management of Bitmain began at the end of 2019.

Media: Bitmain co-founder faces ...

Then the current CEO of Bitmain Jihan Wu ordered to fire Jean due to ineffective decisions made within the company..

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Jean, in turn, declared the illegality of his dismissal and began to fight to regain control of the company..

What do you think? Will the conflict within Bitmain affect the cryptocurrency market? Share your thoughts with us in the comments and join the discussion in our Telegram channel.


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