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New reports claim Bitmain’s street fight is exaggerated

May 9, 2020

We recently reported that Bitmain’s CFO, Luyao Liu, He was arrested after allegedly participating in an attack in Beijing. However, recent updates indicate that this was not the case.

At the time, sources claimed the attack was directed against the company’s co-founder, Micree Zhan. Local reports suggest that the police took Liu away after stealing a business license from Zhan, the mining giant’s main daughter, Bitmain Beijing.

What really happened according to CaiXin News

According to the CaiXin news:

“Caixin’s reports said the party was Bitmain’s chief financial officer and legal representative, Liu Luyao, and others. Bitmain’s founder, Wu Jihan, instructed him to intervene; the other party was co-founder Micree Zhan, who was expelled from the company and his two lawyers.”

Business scene: No mobs participated

New reports claim Bitmain’s street fight is exaggeratedNew reports claim Bitmain’s street fight is exaggerated

The Haidian District Market Oversight Administration said in its release:

“According to the decision of the Beijing judicial administration, it is currently necessary to issue a business license to the registered legal representative of the company and to return the (old) business license within a certain period.”

When the business license was supposed to be delivered to Zhan, the Bitmain people quickly took it away from him. A Caixin reporter heard Liu Luyao say:

“The business license is owned by the company. How can it be granted to a person?”

According to media reports, the police arrested Liu Luyao. However, Bitmain replied that this was nothing more than a rumor. Caixin’s reports indicate that all parties are working with the police.

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