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First-Ever Bitcoin Cash (BCH) Option to Be Launched by Bitmain Founder Jihan Wu

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Wed, 01/20/2021 - 11:18
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Vladislav Sopov
One of the most influential Chinese crypto entrepreneurs, Jihan Wu formerly of Bitmain, is going all in on Bitcoin Cash (BCH) with his derivatives platform
First-Ever Bitcoin Cash (BCH) Option to Be Launched by Bitmain Founder Jihan Wu
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Chinese blockchain journalist and insider Colin Wu announces that Bitmain founder Jihan Wu has begun offering perpetual swaps on Bitcoin Cash (BCH) through his platform, Bit.com. According to Wu, the former CEO also plans to release the first BCH/USDT option in crypto history.

Bit.com adds perpetual swaps on Bitcoin Cash (BCH), teases options launch

As announced in the latest tweet by Mr. Colin Wu, Bit.com, a small Seychelles-incorporated centralized cryptocurrency exchange, adds BCH/USDT perpetual swaps. This release is accompanied by a lucrative promotional campaign with a $100,000 airdrop for the first traders.

Jihan Wu launches BCH/USDT perpetual swaps
Image via Twitter

Impressive leverage up to 33x will be avaliable for all traders of BCH/USDT positions. According to the official announcement by Bit.com, only new users (who have not used Bit.com products prior to Jan. 20, 2021) are eligible for the airdrop. The maximum bonus for one trader is $10 in Bitcoin Cash (BCH) equivalent.

The campaign will be closed on Jan. 27, and BCH payouts for participants will go out within three days of the end of the campaign.

Also, Bit.com is offering seven types of BCH bonuses for registering, submitting KYC information, joining social media channels and depositing large sums of Bitcoin Cash (starting from five BCH, which is equal to $2,600).

Has the civil war ended?

On Feb. 1, 2021, Mr. Colin Wu adds, Bit.com will also list the first-ever Bitcoin Cash (BCH) options. Thus, the service (with only one active pair, BTC/USDT, on Coinmarketcap so far) becomes laser-focused on Bitcoin Cash (BCH) adoption.

According to the Chinese insider, Jihan Wu decided to go all in because of "huge losses on BCH" born by Bitmain. They, in turn, resulted in internal attacks on the former CEO and cofounder.

As covered by U.Today previously, Jihan Wu left Bitmain in late 2020 with a $76,000,000 compensation for his 20 percent stake.

Related
Jihan Wu Leaves Mining Giant Bitmain

Thanks to his policy, Bitmain, the world's largest miner producer, may have invested more than $888 million in Bitcoin Cash (BCH), or 69 percent of its record-breaking 2017 cashflow.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)