Bitmain staff meeting: Wu Jihan regains control, Zhan Ketuan is banned from entering the office

According to BlockBeats, at the Bitmain employee conference held this afternoon, Bitmain announced major personnel changes. In addition to Zhan Ketuan being removed from his position, the HR department that was previously criticized by internal employees has also been "replaced", and the founding team HR who has been working in Bitmain for many years has become the new HRBP.

Internal employees revealed that in early 2019, Wu Jihan and Zhan Ketuan resigned from their CEO positions due to "lack of management experience" (Bitmain previously had a joint CEO system), and Wang Haichao, a senior executive of the company, was appointed CEO. The two agreed not to interfere with Bitmain's operations and only make decisions on major company matters. The two temporarily left Bitmain after complying with the agreement, but Zhan Ketuan returned to Bitmain shortly afterwards to interfere with the company's management affairs. Wu Jihan's control over Bitmain was once at a disadvantage, which is consistent with Caixin's revelations.

Wu Jihan had privately expressed his dissatisfaction with the incident. At the same time, the company did not agree with Zhan Ketuan's management style, and mining customers were also dissatisfied with the cooperation. This incident caused the middle-level and ordinary employees of Bitmain's marketing and mining machine departments to resign one after another. At the same time, other mining machine companies are preparing to go public in the United States, which has brought considerable pressure to Bitmain Group. As Wu Jihan regained control of the company, many employees said they would continue to work at Bitmain.

Wu Jihan was quite emotional at the staff meeting on October 29, and he told employees, "I have to come back to save this company." It is reported that Zhan Ketuan has been banned from entering Bitmain's office.

After the news was released, BCH rose rapidly to $293 in a short period of time, an increase of 11%, with a market value of 36.7 billion yuan. According to Golden Finance, the latest financial report released by Bitmain shows that the number of BCH held by the company has increased by 2 million, with an average cost of about $300. According to the current BCH circulation, Bitmain currently controls 11.2% of the BCH circulation.

Previously, Bitmain founder Jihan Wu issued an important notice to employees, announcing the decision to remove Zhan Ketuan from all his positions at Bitmain, effective immediately. No Bitmain employee is allowed to follow Zhan Ketuan's instructions or attend meetings convened by Zhan Ketuan. If there is any violation, the company will consider terminating the labor contract depending on the severity of the circumstances; if the company's economic interests are damaged, the company will pursue civil or criminal liability in accordance with the law.

According to the National Enterprise Credit Information Publicity System, Beijing Bitmain Technology Co., Ltd. underwent major industrial and commercial changes on October 28 (Monday). Zhan Ketuan resigned as executive director and continued to serve as manager. At the same time, the legal representative was changed from Zhan Ketuan to Wu Jihan, who also took over Zhan Ketuan's position as executive director. Ge Yuesheng served as supervisor.

Regarding the series of changes that have taken place within Bitmain, ViaBTC and CoinEx founder Yang Haipo also posted a Weibo post today to support Wu Jihan. Yang Haipo said that Wu Jihan is the earliest evangelist of China's blockchain, the translator of the Chinese version of the Bitcoin white paper, and the founder of Bitmain, the world's largest blockchain company. It was under his leadership that Bitmain became prosperous. However, due to some historical reasons, as has happened many times in history, he was almost driven out of the company he founded, and Bitmain also fell from the altar. At the most critical moment, he used iron-fisted means to regain control of Bitmain. I hope he can lead the company to glory again like Steve Jobs. Bitmain is the second largest shareholder of ViaBTC&CoinEx and my most solid ally. Congratulations to @BCH_QQagent (Wu Jihan's Weibo account) and congratulations to Bitmain.