Bitmain Rival MicroBT’s Founder Arrested in China for Alleged Embezzlement

Caixin said in the report, citing people familiar with the case, that the person arrested is indeed the founder and CEO of MicroBT, which manufactures the WhatsMiner bitcoin mining equipment with about 40 percent of the market share. The alleged embezzlement amount is 100,000 yuan, or about $15,000, the report said.

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Micree Zhan Says He’ll Take Legal Action to Return to Bitmain

Bitcoin mining giant Bitmain’s co-founder Micree Zhan, who was abruptly ousted from the company last week, said he’s going to take legal action to secure his return to the firm. In a letter posted on his WeChat feed Wednesday, Zhan publicly addressed what he described as a coup without consent for the first time. Last […]

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