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Ketuan Zhan to take legal action against Bitmain for his removal from the company – Bitmain News

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Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

Micree Ketuan Zhan, the co-founder of the bitcoin mining hardware producer Bitmaim, has said that he would take legal action against the company after he was removed from the company without his consent. Bitmain co-founder Jihan Wu announced last week that Zhan had left the company.

Last week Bitmain co-founder and Chairman Jihan Wu announced that he had dismissed all roles of Ketuan Zhan from Bitmain. Samson Mow, the CEO of Blockstream earlier today, shared an open letter that was sent by Ketuan Zhan to all Bitmain employees confirming that he was removed from the company without his consent. He also said that he would take legal action to take back control of the company.

 

Zhan’s Sudden Departure from Bitmain

On 29th October, Bitmain Co-founder Jihan Wu sent an email to all the staff members of the company informing them that Ketuan Zhan has been removed from the company. The email also asked employees not to take any direction from Zhan or participate in any meeting organized by him.

Now Jihan Wu has officially taken over the role of executive director and legal representative of Bitmain from Zhan. When Bitmain filed for the IPO last year, Zhan had 36% shares of the Bitmain, and Wu only had 20%. Coindesk reported that the sudden departure of Zhan from Bitmain was shocking for the employees as well.

 

Bitmain in the midst of a Civil War?

Samson Mow earlier called the drama that company is going through a Bitmain Civil War. Unfortunately, the situation is only getting worse. Bitmain is considered as one of the most important cryptocurrencies companies in the crypto industry. Zhan, in his open letter to the Bitmain, has promised to come back to the company as soon as possible.

Disclaimer: Coinnounce's views are not necessarily reflected in the articles published, and they are the sole representation of the author's opinions. Article's information should not be taken as investment advice. Risks are involved in cryptocurrency investments and trading. Readers are urged to carry out extensive research before making a decision.

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