Crypto Venture of Bitmain Co-Founder Now Has Unicorn Status

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Mon, 08/02/2021 - 05:46

Alex Dovbnya

Bitmain co-founder Jihan Wu has managed to stage a comeback with his own unicorn

Crypto Venture of Bitmain Co-Founder Now Has Unicorn Status

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Matrixport, a Singaporean cryptocurrency-focused financial service company, has achieved unicorn status after raising $100 million during its latest fundraising round spearheaded by C Ventures and other participants, Bloomberg reports.

The firm managed to accomplish such an impressive feat just two and a half years after it was launched by Bitmain co-founder Jihan Wu back in February 2019.

Wu officially announced that he was stepping down from the embattled Bitcoin mining giant after years of bitter rivalry with fellow co-founder Micree Zhan.

He has a majority stake in Matrixport together with CEO Ge Yuesheng, a former Bitmain employee.

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About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.