The disagreement between Zhan Ketuan and Wu Jihan and the struggle for control can be traced back to the 2018 Bitcoin bear market and the failure of Bitmain's listing in Hong Kong. On March 26, 2019, Bitmain announced the end of the "dual CEO" model, with Zhan Ketuan as chairman and Wu Jihan "retiring to the second line". However, on October 28, 2019, Wu Jihan launched a "coup" and removed Zhan Ketuan from his position as executive director and legal representative of Bitmain Hong Kong through a shareholders' meeting, and appointed himself as the new legal representative and executive director. Since then, the struggle between the two sides has further escalated, including a series of events such as "robbing offices", "robbing official seals" and "robbing public accounts".