Jihan Wu is one of the most well-known and controversial figures in the cryptocurrency world. In 2013, he founded Bitmain with Micree Zhan, and this company became the world's largest company producing specialized hardware for Bitcoin mining. Wu's fortune reached billions of dollars with the rise of cryptocurrency markets, and he was named one of the world's youngest billionaires by Forbes magazine in 2018.
The Rise and Fall of Bitmain
Bitmain revolutionized the cryptocurrency market by producing application-specific integrated circuits (ASICs) designed specifically for Bitcoin mining. These special hardware made it possible to mine Bitcoin much faster and more efficiently than traditional computers. This gave Bitmain a dominant position in the market and made Wu one of the most powerful figures in the cryptocurrency world.