Chinese Court Freezes Half a Million Dollars of Bitmain Assets
By court order, Bitmain assets totaling 514 thousand US dollars were frozen in one of China provinces. These funds were frozen for two years, until December 16, 2021, became known. The reason for such a decision is still unknown. Some experts connect it with a recent attack by the company co-founder Micree Zhang. As we wrote earlier, he was stripped of all privileges at Bitmain back in October 2019, and Jihan Wu became CEO. After this incident, Zhang decided to regain control of the company through a meeting of shareholders, but his attempt was unsuccessful. Besides, in November, Chinese law enforcement authorities detained former Bitmain employee Yang Zuxing. He is accused of misappropriation of intellectual property. Some users connect this with the wars of the founders.