According to regional reports, members of Bitmain Technologies and other connected subsidiaries like Copernicus are starting an offshoot company called Matrix. It is not officially known yet just what Matrix will do but some sources allege that the new spinoff will offer cryptocurrency lending services, an over-the-counter (OTC) desk, and custody solutions.

Also read: Survey Shows Consumers and Investors Remain Bullish on the Future of Cryptos

Former Bitmain Employees and Copernicus Members Possibly Forming a Startup Called Matrix

There’s been a lot of changes within the cryptocurrency industry and one of the world’s largest mining manufacturers, Bitmain, has seen its share. Reports have detailed that the falling cryptocurrency economy has caused the company to layoff certain members of the team and close down offices in Israel and Amsterdam. On Jan. 10, news.Bitcoin.com reported on Bitmain’s director of product engineering, Haichao Wang, apparently taking the lead role with the mining corporation in place of Jihan Wu. Now…

Click to continue reading on its source location…

Source: https://thebitcoinnews.com/former-bitmain-employees-may-find-refuge-in-a-spinoff-startup-called-matrix/