Ex-Bitmain CEO Jihan Wu Set to Launch Crypto OTC Platform Next Month: Report
Matrix’s OTC offering is likely to be boosted by its close ties to bitcoin (BTC) mining company, Bitmain. The new business will reportedly offer custody and lending services to the Beijing-based giant, receiving a liquid pool in return.
The Block notes that speculation remains over whether Wu will serve as chairman or CEO of the new company — as well as over whether Matrix would be allowed to operate in China, which has a history of clamping down on the cryptocurrency industry and crypto trading.
Last November, Wu was reportedly demoted from being a “director” at Bitmain to a “supervisor.”