Bitcoin mining giant Bitmain has denied crypto media reports that its co-CEO Jihan Wu has been removed from the board of BitMain Technologies Holding Company, which is currently aiming to go public on the Hong Kong Stock Exchange (HKEX).
While the news first appeared on a China-based crypto money news channel on Monday, then crypto news channels accelerated the news that Jihan Wu was removed from BitMain’s board of directors.
After all this, Coindesk’s Bitmain officials, whom he reached out to, denied these news in the crypto money media and shared the answer “To be frank, no changes were made in our board members” with the US-based crypto media.
The Board of Directors was Restructured
Coindesk In the e-mail he sent to , it was stated that Bitmain was preparing for the IPO process and that a change was made in the structure of the board of directors in order to comply with the regulations, these words were included;
“As a standard listing process, Bitmain is rearranging its board and group chart to comply with regulations during the IPO process. This is basically done in order to better explain the distribution of work in the board of directors. No one has left our board of directors, and our co-founder Jihan Wu continues to be a member of the board of directors and co-CEO of the company.”
Bitmain, the world’s number one Bitcoin mining company, formerly Bitcoin. With the potential to control more than 50 percent of its network, it brought the discourse of 51 percent attack in the crypto money world to the agenda again.
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