Luyao Liu, Bitmain’s Chief Executive, and the former legal representative has been arrested for his part in a ‘mob-like attack’ conducted on Micree Zhan, the exiled co-founder of Bitmain.
Bitmain’s Beijing subsidiary business license was apparently stolen, and the police held Liu responsible for what happened, together with others. Zhan has been involved with Bitmain’s other co-founder, Jihan Wu, in a power struggle since October of last year.
What on Earth Happened?
A group of people with masks (due to COVID-19) hassled Zhan at the Beijing Municipal Administration of Industry and Commerce.
Zhan was there to obtain a business license for Beijing’s Bitmain subsidiary so that he could become the legal rep for the company. Liu got arrested soon after the altercation for being involved in the assault.
The whole story (Jesus I still can’t believe 😂😂😂😂
In the morning, Micree was at the Industry and Commerce Bureau of Beijing office, to get his Beijing Bitmain corp license, which he is the legal representative of
LIU and ten others literally “robbed” it right on the spot pic.twitter.com/mylc9JRuYP
— Dovey 以德服人 Wan 🪐🦖 (@DoveyWan) May 8, 2020
Bitmain Says Liu Is the Company Legal Rep
An announcement from Bitmain’s WeChat official account says Zhan no longer holds a position at the company since October 2019, adding that Liu Luyao is the legal rep of Bitmain Beijing. Even if there are documents who show Zhan is in fact occupying this position within the firm.
The documents were called by Bitmain a registration error. Wu abandoned his CEO post at the firm in 2018, yet he appears to have appointed Liu as a legal rep this year. In February, Zhan appealed the decision with the Beijing Haidian District Bureau of Justice and won.
The Power Struggle at Bitmain
In October last year, a power struggle between Wu and Zhan started because Wu decided to oust Zhan. Zhan’s position within the company at that point was of chairman and legal rep. Bitmain staff was forbidden by Wu to have any interaction with Zhan, who said back then that he was removed as a legal rep without him giving his consent.
Ever since, he filed many lawsuits against 2 Bitmain subsidiaries, trying to also restore his position within the company and to obtain a business license for Bitmain Beijing.