DayOfCrypto
  • Home
No Result
View All Result
DayOfCrypto
No Result
View All Result
DayOfCrypto
Home Other
chinese-police-hold-microbt-ceo-allegedly-over-dispute-with-bitmain

Chinese Police Hold MicroBT CEO Allegedly Over Dispute With Bitmain

by Admin
November 8, 2019
in Other
286 6
0
Share on FacebookShare on Twitter

Chinese police are holding the founder of Bitmain rival MicroBT over suspected allegations of intellectual property infringement.

The founder of Bitcoin mining rig manufacturer MicroBT is being held as of Nov. 8 by Shenzhen Police to assist in an investigation, according to a local news source. Police are likely to be questioning Zuoxing Yang over allegations of intellectual property infringement regarding the technology of Beijing-based Bitmain.

Previous allegations of patent infringement

Yang previously worked at Bitmain as processor design director, and developed the Antminer S7 and S9 models. Allegedly unhappy after talks over stock options fell through, Yang left, and raised $20 million to found MicroBT.

In 2017, Bitmain sued the company over alleged infringement of a patent. However, Yang’s lawyers successfully appealed to have the patent revoked the following year.

Did Jihan Wu instigate the renewed investigations?

A source said that it was unclear why the police had resumed investigations at this time. However, the timing of Yang’s detention, coming just after the unexpected return of co-founder Jihan Wu to Bitmain, may suggest that Wu could be involved.

Wu returned to the company at the end of October, ousting fellow co-founder and biggest shareholder, Micree Zhan. Wu publicly dismissed Zhan of all duties last month, warning that any staff still communicating with him may be fired.

Tags: BitmainChinaMining

Admin

About Us

We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc. Check our landing page for details.

Follow Us

Popular Tag

Adoption Banks Binance Binance Coin Bitcoin Bitcoin Cash Bitcoin Price Bitcoin Regulation Bitcoin SV Blockchain Central Bank China Coinbase Crimes Cryptocurrencies Cryptocurrency Exchange EOS Ethereum Ethereum Price Facebook Germany Government Investments Japan Law Libra Litecoin Markets Market Update Mining Payments Regulation Ripple SEC Security South Korea Stablecoin Stellar Switzerland Tokens Tradings Transactions USA Wallet XRP

Recent News

Poloniex Review – Buy and sell cryptocurrencies, Bitcoin, Registration, Safety, Reference

Poloniex Review – Buy and sell cryptocurrencies, Bitcoin, Registration, Safety, Reference

November 8, 2020
Bitstamp Review – Buy and sell Bitcoin and cryptocurrencies, Registration, Safety, Reference

Bitstamp Review – Buy and sell Bitcoin and cryptocurrencies, Registration, Safety, Reference

November 8, 2020
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2021 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result
  • Home

© 2021 JNews - Premium WordPress news & magazine theme by Jegtheme.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Go to mobile version
Skip to toolbar
  • About WordPress
    • WordPress.org
    • Documentation
    • Support
    • Feedback
  • Log In
  • AMP
    • View AMP version