Wu said that Cango announced that it has completed a comprehensive transformation from an automotive trading platform to a Bitcoin mining enterprise, and restructured its board of directors and management. Antalpha founder and CEO Jin Xin has been appointed as the chairman of the board, further consolidating its ties with Bitmain. Antalpha is a financial services platform supported by Bitmain. The newly appointed CEO, Yu Peng, was previously the Chief Strategy Officer of Antalpha and has a background in asset management. The company has also added several members with Antalpha backgrounds to the board of directors. Cango currently holds over 4000 bitcoins.