MicroBT Founder Arrested in Shenzhen on Charges of Embezzlement

According to a report from BNN Bloomberg, Yang ZUOXING, the founder of MicroBT, the world’s fastest-growing crypto mining chip designing company was arrested in Shenzhen on charges of embezzling funds from one of his clients.

The arrest itself was conducted in October of 2019, but an official comment from the police was made on December 12th. MicroBT is the biggest rival of a crypto mining equipment manufacturing giant Bitmain and was founded by the person that actually got Bitmain to where it is now.

Yang was involved with the leading corporation through designing some of its best-performing products, but due to misunderstandings and rivalries with the founders, he left and founded his own company. MicroBT had fought a few lawsuits ever since but managed to win all of them thanks to Yang’s tech-designing skills. He managed to use a completely different patent and improve upon the hardware made for Bitmain.

The patent was named Whatsminer 20 series managed to become a bestseller in 2019 and seems to be able to continue doing so well into 2020.

As for MicroBT’s performance and credibility, it can be said that nothing much will change even if Yang is found guilty. This is due to Yang’s already known absence with the company after the general hardware design.