Jihan Wu Launches New Crypto Startup
09 July 2019 09:34, UTC
The Singapore firm, named Matrixport, reportedly hired dozens of former Bitmain employees who were fired from the company as a result of the effects of the 2018 bear market.
Jihan WU is a major shareholder of Matrixport, but the company has attracted investors, a number of global venture capital companies, including Bitmain itself, as announced by its current CEO Ge YUESHENG. In an interview with Bloomberg, he said that Matrixport will act as a Bitmain partner, not a competitor.
The news came amid reports that Bitmain is reviewing its initial public offering (IPO) plans in the second quarter of 2019. Anonymous sources told Bloomberg that Bitmain plans to raise between $300 million and $500 million this year during an IPO in the United States.
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