Ousted Bitmain Co-Founder Takes Beijing Office with Hired Guards: Report

The power struggles between the cofounders of cryptocurrency mining giant Bitmain appear to have heightened to a fever pitch. Jihan Wu removed co-founder Micree Zhan from the company last year; since then, Zhan has been working to fulfill a vow that he made to return to the company using legal means.

What has already been a highly public spat between the two co-founders took a rather aggressive turn on June 3rd, when Zhan reportedly attempted a physical takeover of Bitmain’s office in Beijing. According to CoinDesk, the office has been mostly empty of employees for the last several months due to the COVID-19 quarantine.

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Indeed, according to reports by Chinese publication BlockBeats, Zhan led a team of ‘Bao Ans’, or private guards, into the office on Wednesday, demanding that he be reinstated as an operating member of the company.

The report also included a video of guards marching next to what appears to be the Bitmain office; one figure can be seen blockading the door to the office from the outside with furniture.

Finance Magnates reached out to Bitmain to confirm the details of this story, but did not receive a response before press time. This article will be updated as reponses are received.

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