Yuzo Kano to return to president of cryptocurrency exchange bitFlyer

Returning to the national team with a long-awaited return

bitFlyer Holdings, which operates a major crypto asset (virtual currency) exchange company in Japan, announced that its founder and major shareholder, Yuzo Kano, will return to the position of CEO. The election of a new director was resolved at the shareholders’ meeting on the 30th.

Source: bitFlyer Holdings

In June 2018, bitFlyer was one of the exchanges that received a “business improvement order” due to insufficient internal control system during the simultaneous on-site inspection by the Financial Services Agency following the large-scale hacking of the crypto asset exchange Coincheck. one of. Kano resigned as president in 2019 after being questioned about his management responsibility.

However, after that, there were rumors of internal turmoil, such as the change of president four times in a row due to conflicting management policies, and the discovery that acquisition negotiations were proceeding without Mr. Kano’s approval, led by an investment fund. was done.

Strict leverage (margin trading) regulations in crypto asset derivatives trading are also weighing down bitFlyer’s centripetal force has been pointed out. In February of this year, Mr. Kano returned to represent one of Japan’s leading crypto asset exchanges in order to accelerate management reforms. was declaring

Accelerate the development of the web3 industry in Japan.

In order to fuse bitFlyer Blockchain and bitFlyer (exchange), I will return to the exchange representative and serve concurrently.

“Once again, bit flyer fighting in the world”

Thank you all for your support!! https://t.co/1nZSIPZMJM

— Yuzo Kano @bitFlyer (@YuzoKano) February 27, 2023

In recent years, the Kishida administration has been promoting web3, and while the momentum is increasing in Japan, users are also hoping for Mr. Kano, who is familiar with the web3 industry and has the driving force, to return as president.

In the future, it will accelerate management reforms and aim for an initial public offering (IPO) on the stock market.

connection:Why did the Japanese government start promoting the “Web3 policy”?Summary of important points and related news

connection:What is the virtual currency exchange bitFlyer | 3 recommended points for investors

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