Bitcoin.org Co-Owner Cobra Shares Concern on Absence of Bitmain’s Former CEO Jihan Wu on Social Media
The co-owner of Bitcointalk.org and Bitcoin.org, known by a pseudonym Cobra, has expressed his worry about the disappearance of the former Bitmain CEO Jihan Wu from social media.
Speaking about the sudden disappearance of Jihan Wu, Cobra said that:
I could be completely wrong, but my admittedly low-info Westerner understanding of Chinese business culture is, if your large venture fails, there are serious, dangerous personal consequences.
— notsofast (@notsofast) January 21, 2019
Where Trouble Began
Jihan Wu has absconded from social media for a while now, leaving the cryptocurrency community worried. Trouble started back in November 2018, when the Bitcoin Cash Community split during the famous Bitcoin Cash hardfork, which saw the blockchain, split between Bitcoin Cash ABC and Craig Wright’s Bitcoin Cash SV.
The two factions were not in agreement and had a continued dispute, forcing them to split the coin into two cryptocurrencies – both of which are currently among the top 10 coins according to market capitalization.
Continued Woes For Jihan Wu
Following the Bitcoin Cash hard fork, market pressure forced the two cryptocurrencies to take a sharp dive to a yearly low. During that time, Jihan Wu was also demoted from the position of director at Bitmain to a supervisor, with resignation rumors surfacing months later.
While Jihan Wu remains one of the stakeholders of Bitmain, he is expected to be ousted as the CEO of the company, with a new appointment imminent.
Since all these problems came into light, Jihan Wu has chosen to remain behind the scenes, retreating from all social media channels, something that has left many people in the cryptocurrency space worried.