Bitmain’s former Bitcoin mining chip designer arrested for embezzlement, report

The founder of Chinese Bitcoin mining manufacturer MicroBT has reportedly been arrested for allegedly embezzling $14,339 (100,000 yuan). Yang Zuoxing, the former director of chip design at Bitcoin mining giant Bitmain, has been in prison since the end of October, Caixin Global reports. He is credited with developing Bitmain‘s wildly successful AntMiner S7 and S9 models. The publication says the People’s Procuratorate of Nanshan district in the southern Chinese tech hub confirme