Cryptocurrency

Bitmain Terminates Executive Director Micree Ketuan Zhan; Employees Threatened Not to Maintain Contact With Him

Leading Chinese Bitcoin mining firm, Bitmain Technologies Limited has dismissed its co-founder and executive director, Micree Ketuan Zhan, from his position in a sudden turn of events. The critical news got viral in the crypto niche when Jihan Wu, the fellow co-founder and Board Chairman of Bitmain warned the company employees not to indulge in any interaction with Zhan as in the case of negligence of his orders the particular employee will be terminated from the job.

The controversial email from Jihan read,

Bitmain’s co-founder, chairman, legal representative, and executive director Jihan Wu has decided to dismiss all roles of Ketuan Zhan, effective immediately. Any Bitmain staff shall no longer take any direction from Zhan, or participate in any meeting organized by Zhan. Bitmain may, based on the situation, consider terminating employment contracts of those who violate this note.

As per the reports of CoinDesk, the reason behind the sudden termination of Zhan from the firm is still not disclosed by the officials. Though this shocking dismissal has surely evolved as a surprise for the crypto world as Zhan was amongst the biggest shareholders of Bitmain, holding nearly 36% stake in the firm. One of the most potent possibilities about the ousting of Ketuan Zhan from the Bitmain ecosystem is apparently the clash of strategies.

Hackernoon’s report stated that Zhan is a die-hard supporter of AI chip development while Wu is adamant to lend support to Bitcoin Cash development. This difference in thinking has been rumored to be the prime reason behind Zhan’s termination. Zhan was also cornered during the launch of Bitmain’s biggest mining farm in Texas some time back.

Bitmain has not released any official statement concerning Zhan’s dismissal from the firm, and the officials have been restraining themselves from commenting anything on the critical subject matter.

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Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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