It is estimated that Jihan Wu’s new startup is about a month away from launching according to sources close to The Block. The startup, Matrix, will be a custody and trading services firm. It is believed that the firm will provide lending and custody services to Bitmain which will, in turn, provide vast liquidity for Matrix’s OTC desk. Bitmain is noted to be working closely with Matrix. It was noted by a source that this relationship could turn Matrix into the world’s biggest OTC desk overnight.
Source: The Block
