- Buy Crypto
- Markets
Futures- Spot
- Copy Trade
- Earn
- More
Cango Announces Completion of Secondary Acquisition and Appointment of New Management Team
Odaily News On July 23, Cango Inc. (NYSE: CANG) announced the completion of its transformation into a global Bitcoin mining company and appointed a new board of directors (the “Board”) and senior management team.
By resolution adopted on July 23, 2025, the Board of Directors appointed:
(1) Xin Jin is the Chairman of the Board and a non-executive director;
(2) Peng Yu is the Chief Executive Officer and Director;
(3) Chang-Wei Chiu as director;
(4) Yongyi Zhang as Chief Financial Officer;
(5) Simon Ming Yeung Tang is the Chief Investment Officer.
To enhance governance, the Board also appointed:
(1) Independent Director Chi Ming Lee is a member of the Compensation Committee and the Nominating and Corporate Governance Committee;
(2) Independent Director Yanjun Lin serves as Chairman of the Compensation Committee and a member of the Nominating and Corporate Governance Committee;
(3) Haitian Lu is the Chairman of the Nominating and Corporate Governance Committee and a member of the Compensation Committee.
During the same period, the board of directors accepted Xiaojun Zhangs resignation as director and chairman of the board, and Jiayuan Lins resignation as CEO, interim CFO and director. The two also completed a secondary acquisition - selling a total of 10 million Class B common shares to Enduring Wealth Capital Limited for a total consideration of US$70 million; and voluntarily converted all remaining Class B common shares held by their holding company into Class A common shares with one vote per share. After the transaction is completed, they will hold a total of 18.54% of the companys total outstanding shares and 12.07% of the total voting rights; Enduring Wealth Capital Limited will hold approximately 2.82% of the companys outstanding shares and 36.73% of the voting rights. (PR Newswire)
You may also like
Kyle Samani's Exit Scam, Is There More to the Story?
February 10th Market Key Intelligence, How Much Did You Miss?
Tokenomics New Paradigm? When Backpack Starts Enabling VCs to "Deferred Gratification"
BankrCoin Achieves New Milestones as YZi Labs and ETH Investors Make Significant Moves
Key Takeaways BankrCoin (BNKR) hit a new all-time high with significant market activity. YZi Labs executed a major…
Bitcoin Tests $75K Amid Market Predictions
Key Takeaways Bitcoin shows a 47% chance to test the $75,000 mark this February, contrasting with a potential…
MrBeast Acquires Step to Enhance Financial Offerings for Youth
Key Takeaways YouTube star MrBeast has acquired the financial services platform Step through Beast Industries. The acquisition aims…
Polymarket Predicts Bitcoin Uptrend as MrBeast Ventures into Fintech
Key Takeaways Bitcoin’s Potential Surge: Polymarket denotes a fluctuating probability of Bitcoin achieving $75,000 in February, reflecting volatile…
MrBeast Enters Financial Services with Step Acquisition
Key Takeaways Binance announced an Alpha Airdrop event, highlighting the growing trend of gamified airdrops. Bitcoin prediction markets…
Analysts Predict Bitcoin May Fall to $55K as Support Levels Threaten
Key Takeaways Analysts suggest a potential drop of Bitcoin to $55K if current support levels are breached. Galaxy…
Analysts Predict Bitcoin May Drop to $55K Amid Support Challenges
Key Takeaways Experts caution that Bitcoin could fall to $55,000 if current support levels are breached. The market…
Bitcoin May Decline to $55K: Analysts Warn
Key Takeaways Analysts project Bitcoin could drop to $55,000 if key support levels fail. Technical analysts forecast that…
YZI Labs Transfers Massive ID Tokens to Binance as BNKR Hits New High
Key Takeaways BNKR, a digital currency, has achieved its highest-priced milestone of $0.295 CAD as of January 26,…
MrBeast Acquires Step, Expanding Influence in Teen Finance Market
Key Takeaways MrBeast has acquired the financial services app Step, which caters specifically to Gen Z users. Step…
Analysts Predict Bitcoin’s Critical Support Level May Trigger Decline
Key Takeaways Experts indicate a crucial moment for Bitcoin, with potential price drop to $55,000 if support fails.…
Michael Saylor Faces Bitcoin Valuation Challenges: Impact on the Crypto Market
Key Takeaways Michael Saylor’s Bitcoin investment is currently valued at $55 billion, but recent market trends have seen…
MrBeast Acquires Step FinTech App in Strategic Move
Key Takeaways MrBeast’s company, Beast Industries, has announced the acquisition of Step, a fintech app focused on Gen…
Bitcoin’s Potential Surge Sparks Debate Among Investors
Key Takeaways The probability that Bitcoin will reach $75,000 in February fluctuates as predicted by Polymarket. Bitcoin recently…
Analysts Predict Bitcoin’s Potential Plunge to $55K
Key Takeaways Analysts warn of a possible drop to $55K if Bitcoin’s current support breaks. 10X Research and…
Kyle Samani's Exit Scam, Is There More to the Story?
February 10th Market Key Intelligence, How Much Did You Miss?
Tokenomics New Paradigm? When Backpack Starts Enabling VCs to "Deferred Gratification"
BankrCoin Achieves New Milestones as YZi Labs and ETH Investors Make Significant Moves
Key Takeaways BankrCoin (BNKR) hit a new all-time high with significant market activity. YZi Labs executed a major…
Bitcoin Tests $75K Amid Market Predictions
Key Takeaways Bitcoin shows a 47% chance to test the $75,000 mark this February, contrasting with a potential…
MrBeast Acquires Step to Enhance Financial Offerings for Youth
Key Takeaways YouTube star MrBeast has acquired the financial services platform Step through Beast Industries. The acquisition aims…
App