Exclusive News from Coinlive: Yu Ji, Chairman of Shanghai Binco, born in 1981 and a native of Shanghai, passed away suddenly this afternoon.
It is reported that Binco Network has faced consecutive failures in its attempts to go public since 2020, leading to Yu Ji accumulating a substantial amount of gambling debt. In October 2022, Bilibili applied to freeze over 87.21 million yuan of his assets, and with the delisting of Tengxin, Yu Ji was under immense psychological pressure.
Yu Ji's death is believed to be related to pressure from numerous investors demanding repayment of debts. However, it is yet to be determined whether it was a suicide or an accident. Coinlive will closely monitor and follow up on the story.