Chinese police arrest former Bitmain employee, who is now CEO of its rival MicroBT

Police in China have arrested Yang Zuoxing, a former employee of cryptocurrency mining chips manufacturer Bitmain and the current CEO of its rival MicroBT, the maker of WhatsMiner bitcoin miners. 

Chinese news outlet BlockBeats reported the news Friday, citing “insiders,” who include Chinese cryptocurrency miners and exchanges. Yang has reportedly been taken into custody over a dispute involving the intellectual property rights of Bitmain.

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