All Bitcoin Cash (BCH) developers sent packing by mining giant Bitmain
|- Bitmain fires all BCH developers citing redundancies within its vast labor force.
- The BCH developers had been working on Bitcoin Cash Go client for Bitmain.
A report by Blockstream CSO Samson Mow reckons that the mining giant Bitmain has fired all the developers of Bitcoin Cash. The same reported also appeared on Cointelegraph, a crypto news outlet. The firing is said to be one among many layoffs in the company. Bitmain is likely to be letting go of at least 50 workers this week.
A similar report also appeared on the Chinese version of LinkedIn saying that the exercise is focused on redundancies within its 2,500 labor force. The same reports have started showing up on Twitter after they were posted by one of the founders, Dovey Wan who reckons that reports by the media are “usually very high accuracy, posted by employees themselves.”
The report further says that the BCH developers had been working on Bitcoin Cash Go client for Bitmain under the firms Corpernicus group. Mow’s report states that some of the developers received only a one week notice with some asked to leave after they had just joined Bitmain.
Bitmain has plans to carry out an IPO, however, the development has been held back by a series of controversies. Some reports state that the mining giant is recording losses following the crypto market crash and especially that affecting its BCH reserves.
Read more:
Bitcoin Cash (BCH): Hope this pump doesn’t get to dump
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.