Is Bitmain in Trouble After Jihan Wu Coup?

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Jihan Wu took over as the legal representative of Bitmain in China, after ousting the company’s co-founder Ketuan “Micree” Zhan in a dramatic email sent out this Tuesday. The role taken by Jihan Wu is instrumental, as he is the de facto face of Bitmain in China.Dovey Wan, co-founder of Primitive Crypto, commented on the Bitmain case, suggesting that the shuffle in leadership may hurt the company’s reputation. The shift in leadership was dramatic, banning Ketuan Zhan from visiting the offices and explicitly warning employees not to communicate with him, or follow his orders. news arrived at a time when Bitmain has been preparing an IPO in the USA. BTCKING555, one of the Twitter personalities tracking the Bitmain efforts to present an IPO, suggested that Ketuan Zhan may have been against the IPO. In the past days, it became known that Bitmain may have harnessed the services of Deutsche Bank…

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