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đź’°Bitcoin mining firm Bitfarms fires CEO amid $27 million damages lawsuit
Toronto-based Bitcoin mining firm Bitfarms fired CEO Geoffrey Morphy on Monday, effective immediately, after he filed a lawsuit against the company claiming $27 million in damages for breach of contract. Previously President and COO, Morphy was promoted to CEO in December 2022. However, in March this year, Bitfarms announced Morphy would be departing the company upon completing its executive search, though he would continue to lead the mining firm in the interim to ensure a “smooth transition.”
đź’°Bitcoin mining firm Bitfarms fires CEO amid $27 million damages lawsuit
Toronto-based Bitcoin mining firm Bitfarms fired CEO Geoffrey Morphy on Monday, effective immediately, after he filed a lawsuit against the company claiming $27 million in damages for breach of contract. Previously President and COO, Morphy was promoted to CEO in December 2022. However, in March this year, Bitfarms announced Morphy would be departing the company upon completing its executive search, though he would continue to lead the mining firm in the interim to ensure a “smooth transition.”
China’s stock markets are some of the largest in the world, with total market capitalization reaching RMB 79 trillion (US$12.2 trillion) in 2020. China’s stock markets are seen as a crucial tool for driving economic growth, in particular for financing the country’s rapidly growing high-tech sectors.Although traditionally closed off to overseas investors, China’s financial markets have gradually been loosening restrictions over the past couple of decades. At the same time, reforms have sought to make it easier for Chinese companies to list on onshore stock exchanges, and new programs have been launched in attempts to lure some of China’s most coveted overseas-listed companies back to the country.
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