BitFlyer's ex-CEO vies for former role: Bloomberg

Yuzu Kano, the co-founder of Japanese crypto exchange BitFlyer, is reportedly planning to retake his old position as chief executive officer of the firm, according to a Bloomberg report.

Kano’s proposal to reassume the CEO role and pursue an initial public offering will be presented to shareholders next month in a bid to put to rest a dispute between shareholders and the company’s management, said Bloomberg.

Kano, who stepped aside from the role of CEO in 2019, owns 40% of the company, according to Bloomberg. Currently, he serves as the CEO of a BitFlyer subsidiary, BitFlyer Blockchain Inc.

An earlier bid to sell BitFlyer last year was defeated by Kano, who reportedly said 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.”

Issues involving BitFlyer shareholders will be addressed at the forthcoming meeting according to BitFlyer's current CEO, Hideki Hayashi, who Bloomberg said declined to address Kano’s statements.