Founder of Bitmain Rival MicroBT Arrested 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.