Ex-head of mining giant Bitmain has launched a new cryptocurrency startup

Former head of the Chinese company Bitmain Cihan Wu, together with some ex-employees of the mining giant, has launched a new platform for over-the-counter trading, lending and storage of digital assets. It is reported by Bloomberg .

So, according to the CEO of the site called Matrixport Ge Yueshena, she began her work this Monday, July 8. He also said that the idea of its creation appeared in January amid financial problems of Bitmain .

Then the company fired dozens of employees, many of whom later became part of the Matrixport team.

Nevertheless, Yueshen stressed that the new platform is not going to compete with Bitmain in any way.

“We are closely associated with Bitmain in its origin. But since we work in different areas of business, we are partners, not competitors, ”said Matrixport CEO.

Apparently, the platform intends to compete with companies such as BitGo and Genesis Global Trading, which provide financial services to professional crypto traders.

The company is registered in Singapore, which, according to Yueshena, will allow it to circumvent the ban on trading cryptocurrencies in the PRC. At the moment, the Matrixport team has about a hundred people, and Cihan Wu is one of the largest investors.

Recall that Jihan Wu intends to leave the leading post in Bitmain, it became known at the beginning of the year. However, he retained the right to vote on issues of strategic importance to the company.

Later, the media reported that Wu intends to launch a startup specializing in over-the-counter trading, lending and custodial solutions by the end of July.

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