After Micree Zhan was forced out of the company he helped found, the entrepreneur is ready to fight back. Zhan is one of the men behind Chinese cryptocurrency mining equipment manufacturer Bitmain, but was forced out by fellow co-founder, and controversial crypto figure Jihan Wu, last month. His ouster, however, was an attempt by Wu to take control of the company and could be illegal.
Zhan wasn’t even given the decency or respect to have been notified in person by Wu. He was away from headquarters on a business trip when he was removed and the decision was made without his consent, according to a letter he penned to Bitmain employees. He explained, “I have never thought that as a person focusing on technology and product, I have to start thinking from legal perspectives. It was embarrassing that as a Bitmain co-founder, the biggest shareholder, and a registered legal representative, I got ousted without any knowledge in this coup while on a business trip.”
BREAKING: Micree Zhan just sent a open letter to all Bitmain employees confirming that he was removed as the legal representative of the company without consent, and that he will take back control of the company through legal channels. #BitmainDrama #CalledIt 🍿 pic.twitter.com/PTGyof57qt
— Samson Mow (@Excellion) November 7, 2019
He feels that he was stabbed in the back, just like the “partners you trusted and ‘brothers’ you fought together with” and vows to fight the move with everything he has. He reassured Bitmain’s employees and shareholders that he has every intention of being back in the company “as soon as possible through legal methods,” and stated, “We want to achieve the goal of 90% market share of bitcoin miner manufacturing market!