April 25, 2024

Chinese authorities suspend business license for Beijing Bitmain

A conflict within Bitmain's leadership led to the suspension of the business license of the Beijing mining divisiongiant.

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According to Primitive Crypto partner Dovi Wang, Bitmain is trying to leverage its ties with the political elite to renew the license.

Recall, the police in Beijing arrested the representative of Bitmain Liao Liu for attacking the former CEO and co-founder of mining giant Mikri Zhang.

According to Dovi Wang, Zhang received at the BureauIndustry and Commerce Office in Beijing licensed by Bitmain as legal representative. Liao Liu with a dozen people literally robbed Zhang right in the office building, taking away papers.

The conflict of the co-founders of the company resulted in the pages of the Chinese media - the incident was reported by the largest state-owned news agency Xinhua.