Bitmain has eliminated Du Shisheng from the place of chairman and issued a letter to all staff, requiring staff to report corrupt conduct by November 6 and the corporate won’t pursue their felony legal responsibility.
In accordance with Wu Blockchain, on November 1, one of many largest bitcoin miners on the planet Bitmain appointed Xiao Shengqiang as president of the mining machine enterprise for a time period of 4 years and eliminated Du Shisheng from the positions of president of the mining machine enterprise division and EMT member.
The newly appointed Xiao Shengqiang was a former monetary officer of Bitmain Shenzhen.
On November 2, the corporate issued a letter to all staff, asking staff to report corrupt acts by November 6 and the corporate won’t pursue their felony legal responsibility.
Corruption practices embrace soliciting and accepting bribes from clients/suppliers for kickbacks, benefiting from gross sales/buy transfers, each immediately and thru bagman.
In 2017, when it was simply based, Bitmain efficiently raised $50 million from two of the world’s main enterprise capital funds, Sequoia Capital and IDG Capitalre, making the firm’s valuation as much as $75 billion. In an update to the corporate’s financials launched at the moment, the group now has $53 million in money within the financial institution as of October 31, 2022.
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