Deals
Bitmain Crypto-Billionaire Launches New Startup as Bitcoin Rises
- Matrixport is backed by VCs and Bitmain co-founder Wu Jihan
- The startup spun out from the crypto mining giant in January
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Bitmain Technologies Ltd. co-founder Wu Jihan has marshaled a group of the mining giant’s former employees to launch a new cryptocurrency financial services startup, hoping to capitalize on Bitcoin’s resurgence.
Called Matrixport, Wu’s latest endeavor is a one-stop platform for over-the-counter trading, lending and custody for digital assets, Chief Executive Officer Ge Yuesheng said. The venture went live on Monday after spinning off from Bitmain in January, when the world’s largest producer of crypto-mining rigs ran into a cash crunch.