RATE Group | Bitcoin Cash suddenly surges 10% as Bitmain’s co-founder Micree Zhan is ousted
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Bitcoin Cash suddenly surges 10% as Bitmain’s co-founder Micree Zhan is ousted

29 Oct Bitcoin Cash suddenly surges 10% as Bitmain’s co-founder Micree Zhan is ousted

Posted at 07:33h in Bitcoin News by

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  • Bitmain’s largest shareholder exits the company as power struggle mounts.
  • Bitcoin Cash tests $300 as proof that it can do better with Zhan away from it.

Bitcoin Cash is flying the bullish flag high above the cryptocurrency horizon amid news that the largest shareholder and co-founder of Bitmain having been removed from the company. The news of Micree Zhan’s exit was first shared by Primitive Ventures’ Dovey Wan. Zhan owns a 36.5% in the Beijing-based mining giant.

“Got this internal email from Bitmain where Jihan sent to the whole company, this is INTENSE”

Wan quoted the internal email which categorically said:

“Micree Zhan is dismissed from all operating positions from the company immediately. No one should take order from him or attend his meeting.”

The fight to sit at the helm of the mining giant has been ongoing for some time. Jihan Wu is a former CEO of Bitmain and is said to be having a 20.5% stake in the company. Jihan succeeded…

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