Matrix’s OTC offering is likely to be boosted by its close ties to bitcoin (BTC) mining company, Bitmain. The new business will reportedly offer custody and lending services to the Beijing-based giant, receiving a liquid pool in return.
The Block notes that speculation remains over whether Wu will serve as chairman or CEO of the new company — as well as over whether Matrix would be allowed to operate in China, which has a history of clamping down on the cryptocurrency industry and crypto trading.
Last November, Wu was reportedly demoted from being a “director” at Bitmain to a “supervisor.”
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