Bitcoin fever still on! Bitmain co-founder starts new cryptocurrency startup

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.

Wu is a major shareholder along with a clutch of global venture capital firms and Bitmain itself, Ge said. Headquartered in Singapore, Matrixport has a team of about 100 staffers, dozens of whom were let go from Bitmain.