Matrixport, the new company of Jihan Wu, who entered a major throne fight in Bitmain in 2020 and left the company he founded after receiving a large compensation, decided to shrink in the crypto crisis.
Asset management firm Matrix Asset Management, one of the subsidiaries of the company valued at approximately $1.5 billion, parted ways with its CEO and business development manager, while another subsidiary, Matrixport Technologies, decided to part ways with 10% of its employees. Cynthia Wu, COO of Matrixport Technologies, said in a statement that the company went through a restructuring due to regulations.
A great career…
CEO Damien Loh, who left Matrix Asset Management, did not comment on the subject. Loh’s career in the major cities of the world draws attention. Loh, who spent 15 years in JPMorgan’s New York, Tokyo and Singapore offices, became Matrix CEO in October 2021.
FTX products damaged
Matrixport company announced in November that it is not at risk of bankruptcy due to the effects of the FTX collapse, but that about 80 corporate customers have lost due to their investments in FTX products.
