Bitmain Showdown: The Dramatic Fallout Between Co-Founders Zhan and Wu

Zhan’s Unconsented Dismissal

In a shocking twist reminiscent of a Hollywood drama, Micree Ketuan Zhan, co-founder of Bitmain, has claimed he was ousted from his legal representative position without a shred of consent. On November 7, the Twitterverse was rocked by a statement from Zhan, courtesy of Blockstream’s CEO, Samson Mow. Zhan’s declaration was not just a social media post; it was a rallying cry for legal retribution against what he describes as a coup within the company he helped build.

A Betrayal of Trust

In what can only be described as a Shakespearean episode of backstabbing, Zhan expressed profound disappointment over the betrayal he felt from his partners. He likened his situation to the dramatic plots of television shows where trusted allies turn on each other. According to him, “Those scenes in TV shows, where you get stabbed on your back by those partners you trusted, can really happen in real life.” Zhan holds Bitmain close to his heart, calling it “our child,” and he vows to defend it with all legal means available. If it’s a war they want, then he’s ready to suit up.

Chaos at Bitmain

The situation at Bitmain reveals a chaotic regime change, with concerns of legality swirling around Zhan’s unexpected departure. Mow indicates that this removal took place without proper approval from investors or shareholders. This has led him to speculate on a potential civil strife within the company, coining the phrase “#BitmainCivilWar.”

Wu’s Ultimatum

In a dramatic game of corporate chess, Jihan Wu, the other co-founder, has issued a stern warning to Bitmain employees. They are strictly prohibited from any interaction with Zhan, effectively canceling any directives or meetings he might organize. The severity of Wu’s warning hints at deeper rifts within the organization, suggesting that this isn’t merely a workplace spat but a significant existential fight.

Looking Ahead: Zhan’s Optimism

Despite the chaos, Zhan remains optimistic about Bitmain’s future. He is determined to navigate back into the fold and has even projected potential earnings from the company’s pivot towards artificial intelligence (AI). As Zhan conjectures, AI could contribute significantly to revenue, estimating 100 million yuan for 2019 and potentially reaching 1 billion yuan in 2020. This ambitious outlook comes amidst changing tides within the cryptocurrency landscape, particularly driven by regulatory pressures in China.