Bitmain Co-Founder to Launch His Own Startup in July
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One of the founders of bitcoin mining firm Bitmain, Jihan Wun, is about to launch his own crypto-focused startup before the end of July, reports The Block.

The new so-called Matrix startup will reportedly offer custody and lending services to the Bitmain itself, which generates an enormous volume of crypto assets as a miner provider.

On unnamed source that is familiar with the matter claims this business will be "the biggest OTC desk and asset-manager overnight."

At press time, Bitmain hasn't made any official statement.

Previously, back in January, Bitmain closed its mining facility in Texas. However, according to a blockchain research firm Diar, bitcoin miners' incomes have begun to recover slightly after falling to their lowest levels in 18 months.

In the meantime, Bitmain plans to launch two new products to the market before the next Bitcoin halving, which is scheduled for May 2020

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