A civil war broke out at the cryptocurrency company Bitmain yesterday after ousted co-founder Micree Ketuan Zhan threatened to take legal action to seize back control of the company.
Mr Zhan said he was unwillingly removed from his position as chairman of the company, which claims to supply three-quarters of the world’s bitcoin minting machines, while he was away on a business trip.
He wrote that he was stabbed in the back by “my most-trusted partner and a brother who fought beside me”, in an open letter posted to his WeChat social media account.
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