Micree Ketuan Zhan, who is the Bitmain co-founder and a former director at the major Chinese Bitcoin (BTC) mining giant Bitmain, recently claimed that he was removed as a legal representative of the company without his consent.
The CEO of Blockstream was in the cryptocurrency news on November 7, after posting a statement from Zhan on Twitter which implies that the Bitmain co-founder claimed tht he would take legal measures to return to the company.
The other co-founder of Bitmain, Jihan Wu, announced in an email last week that Zhan had left the company and stated:
“Bitmain’s co-founder, chairman, legal representative and executive director Jihan Wu has decided to dismiss all roles of Ketuan Zhan, effective immediately.”
Zhan’s message today, however, featured him expressing his disappointment and feeling of betrayal. The translation shows that he stated the following:
“I didn’t realize until then that those scenes in TV shows, where you get stabbed on your back by those partners you trusted and ‘brothers’ you fought together with, can really happen in real life. […] Bitmain is our child. I will fight for her till the end with legal weapons. I won’t allow those who want to plot against Bitmain to succeed. If someone wants a war, we will give them one.”
The Bitmain co-founder is definitely part of a “messy removal” as Mow postulates, mostly because his dump was executed without investor or shareholder approval. Wu had warned the Bitmain staff from interacting with Zhan and said:
“Any 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 employment contracts of those who violate this note.”
As it stands, the Bitmain co-founder Micree Zhan claims that he will return “as soon as possible through legal methods to end this very critical moment.” According to Mow’s translation of the document, Zhan also predicts that Bitmain’s artificial intelligence (AI) business will generate 100 million yuan ($14.2 million) this year, predicting an additional AI revenue of 1 billion yuan ($142 million) in 2020.
The reports on our site before showed that Bitmain narrowed its focus towards artificial intelligence (AI) in May of last year in the face of a toughening crackdown of the crypto industry by the Chinese government.
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