• Tue, 26 Mar 2019, 08:45 AM
  • All times are UTC
  • Edition:
    International
Link copied

New CEO to take the helm at bitcoin mining giant Bitmain: Report

Fri, 11 Jan 2019, 05:28 am UTC

Bitcoin mining giant Bitmain will soon have a new chief executive officer, who will replace co-founders Wu Jihan and Zhan Ketuan, South China Morning Post reported.

Sources familiar with the matter told the news outlet that the successor is likely to be Wang Haichao, who has been serving as the director of product engineering. They went on to state that Haichao has already taken over duties from the co-founders and is currently in a transition period that began in December.

Sources added that the company has not decided for a definite timeline for Haichao to take the helm as the new CEO.

Wu and Zhan founded Bitmain in 2013. Wu holds 21 percent stake in the company while Zhan has 37 percent ownership. They will continue as co-chairs of the company but will move away from Bitmain’s daily operations. That said, they will still have the final call on major decisions.

The leadership changes follow Bitmain’s efforts to publicly list in Hong Kong last September. Reports suggest that the company is unlikely to get the approval for its initial public offering (IPO) as the country’s regulators see a lack of regulation in the cryptocurrency industry.

More recently, the company confirmed its plans to lay off staff. The move comes as the crypto industry continues to reel under the effects of a prolonged bear market. ConsenSys and ShapeShift have also announced layoffs recently.

<Copyright © TokenPost. All Rights Reserved. >

The commenting service is available only after having logged in.
More
  • Bitcoin (BTC) $3,959.47 (-1.76%)
  • Ethereum (ETH) $134.81 (-1.80%)
  • XRP (XRP) $0.302400 (-1.95%)
  • Litecoin (LTC) $59.13 (-1.70%)
  • EOS (EOS) $3.66 (-0.34%)
  • Bitcoin (BTC) $3,959.47 (-1.76%)
Mar 26, 2019 (Tuesday)
07:07
CoolBitX’s crypto hardware wallet adds support for Gemini Dollar
06:18
Bitcoin nonprofit BitGive teams up with US-Based NGO to provide aid to Venezuela
05:13
OKEx to launch its own blockchain and decentralized exchange
04:40
Blockchain insurance startup B3i secures $16M in latest funding
03:36
eToro acquires smart contract startup Firmo
Mar 25, 2019 (Monday)
04:22
UniCredit completes transaction via we.trade blockchain platform
03:47
Crypto exchange Seed CX ventures into Asian markets via Hydra X partnership
Mar 22, 2019 (Friday)
10:46
SBI Group partners with U.S.-based semiconductor firm to manufacture crypto mining hardware
10:03
Square seeks engineers for new crypto-related initiatives
09:02
Cardano Foundation joins European Commission’s blockchain initiative INATBA as founding member
07:09
Blockchain smartphone maker Sirin Labs partners with MyEtherWallet
06:21
Alibaba, Aerospace Information partner to foster blockchain development
05:30
UPS partners with blockchain startup Inxeption for B2B e-commerce platform
04:36
Financial market veteran Rob Catalanello to lead crypto liquidity provider B2C2’s US expansions
03:44
Numerai secures $11M from Paradigm and Placeholder via token sale
Mar 21, 2019 (Thursday)
11:49
Former Prime Minister of Denmark joins blockchain firm Concordium as strategic advisor
11:00
North Korean dissident group CCD to issue blockchain-based post-liberation visas
10:03
Switzerland inches closer to cryptocurrency regulation
09:07
Huobi Global to launch token sale platform “Huobi Prime”
07:21
Asia Pacific Leaders Malaria Alliance’s M2030 partners with Dragonchain for blockchain-based services
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft