BitFlyer’s Ex-CEO Makes Bold Move To Reclaim Former Position

Key Points:

• Yuzu Kano, co-founder of Japanese cryptocurrency exchange BitFlyer, plans to return as CEO.
• Kano’s proposal for an initial public offering will be presented to shareholders next month.
• Kano’s return as CEO could signal a renewed focus on expansion plans.
• The move could help resolve internal disputes and reinvigorate the company’s growth strategy.

There have been reports that Yuzu Kano, the co-founder of BitFlyer, a Japanese cryptocurrency exchange, is planning to return to his previous position as CEO.

According to Bloomberg, Kano’s proposal to reassume the CEO role and pursue an initial public offering will be presented to shareholders next month in an attempt to resolve a dispute between shareholders and the company’s management.

Kano, who stepped down from his position as CEO in 2019, currently owns 40% of the company and serves as the CEO of BitFlyer Blockchain Inc. Bloomberg also reported that Kano defeated an earlier bid to sell BitFlyer last year. According to Kano, the Singapore-based fund ACA Partners “wanted to get rid of me, both as a shareholder as well as the representative of a subsidiary.”

Hideki Hayashi, declined to address Kano’s statements. However, the forthcoming meeting will reportedly address issues involving BitFlyer shareholders.

The return of Kano as the CEO of BitFlyer could be a significant move for the company. Under Kano’s leadership, BitFlyer became one of the largest cryptocurrency exchanges in Japan. Kano is a well-known figure in the cryptocurrency industry and has been instrumental in the growth of BitFlyer.

The move could also signal a renewed focus on the cryptocurrency exchange’s expansion plans, including the possibility of an initial public offering. BitFlyer is already licensed to operate in Japan, the US, and Europe, and has been expanding into other regions in recent years.

Overall, Kano’s potential return to CEO could be a positive development for the company and its shareholders. The move could help resolve internal disputes and reinvigorate the company’s growth strategy. However, the outcome of the upcoming shareholder meeting remains to be seen, and it will be interesting to see how the situation develops in the coming weeks.

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