Post
Topic
Board Bitcoin Discussion
Re: Jihan Wu is no longer CEO of Bitmain
by
n00b3rt
on 27/03/2019, 23:21:01 UTC
A) still in deep financial trouble and had to lay off many of their staff recently
Definitely. Some of the news about it were fake, but they did close their Israeli and Dutch offices, I believe.
Still holding a significant amount of BCH?
Surely. The market could never handle the sale of 1MM BCH, so that's certain.
Jihan Wu seemed happy to hold his Bitcoin Cash bags and not dump them on the market, but if the new CEO feels differently as ETFbitcoin suggests he might and decides to starting selling the bags, it could accelerate BCH's long, drawn out death.
Jihan is still a director, so I don't believe he'd ever allow that, and it's bad for Bitmain anyway. Rumour has had it for months that Jihan is going to transfer some of his Bitmain responsibilities to others so he can invest his time and his personal billions into Bitcoin Cash - so there is a chance that he'll buy off Bitmain's bags at around $100 per piece.