According to a report from Bloomberg, Yuzu Kano, one of the co-founders of the Japanese cryptocurrency exchange BitFlyer, has apparently been making plans to return to his former role as chief executive officer of the company.
According to Bloomberg, next month shareholders will be presented with Kano’s proposal to reassume the CEO role and pursue an initial public offering in an effort to put to rest a dispute between shareholders and the company’s management. Kano’s proposal aims to put an end to the dispute between shareholders and the company’s management.
According to Bloomberg, Kano, who stepped down as CEO in 2019, controls forty percent of the business. Kano served as CEO until 2019. At the moment, he is the Chief Executive Officer of BitFlyer Blockchain Inc., which is a subsidiary of BitFlyer.
Kano was reportedly quoted as saying that the Singapore-based fund ACA Partners “wanted to get rid of me, both as a shareholder as well as the representative of a subsidiary.” Kano was successful in thwarting an earlier attempt to sell BitFlyer in the previous year.
According to the current CEO of BitFlyer, Hideki Hayashi, who Bloomberg stated declined to answer Kano’s claims, issues concerning BitFlyer shareholders will be discussed at the upcoming meeting.