Posts on X (Twitter) recommend that Bitmain co-founder Micree “James” Zhan Ketuan could also be dealing with a billion-dollar advantageous, alleged detention, and a whole fallout with enterprise accomplice Jihan Wu.
Conflicting stories depart the crypto group scrambling to confirm the main points of one of many sector’s most high-profile crises.
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Bitmain Co-Founders at Heart of Rising Hypothesis and Uncertainty
Bitmain, a pioneer in Bitcoin mining {hardware}, controls gear powering over 74% of the worldwide Bitcoin hash price. Additionally it is liable for chips utilized in AI knowledge facilities working Nvidia H100s.
The corporate now finds itself on the intersection of geopolitics, authorized scrutiny, and inside company strife.
On December 21, 2025, crypto veteran Chandler Guo sparked hypothesis with a cryptic social media submit referencing an business colleague’s “deep-sea fishing” ordeal. The time period is used to explain covert detention in China, price a number of billion {dollars} over six months.
In accordance with Guo, whereas the person emerged safely, he had realized a tough lesson that even the largest backers are usually not dependable. Once they fall, their associates endure as nicely.
“There’s an outdated pal from the crypto circle by my aspect who simply went by way of an expertise of being deep-sea fished. It’s stated to contain a number of billion US {dollars}, and he’s been coping with it for half a yr. Thankfully, the particular person has already safely come out of it…He relied on his backer’s connections to strike down his opponents, however he additionally acquired bitten again by the backer’s personal enemies,” wrote Guo.
Observers rapidly linked Guo’s account to Zhan. Rumors circulating in crypto circles point out fines starting from $1 billion to $10 billion, although none have been formally confirmed.
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Some stories declare Zhan paid a $1 billion penalty, whereas others allege he fled to Indonesia two months in the past and stays lacking. A Chinese language group lead, fashionable on X, confirmed two key developments:
- Current disruptions in Xinjiang’s mining operations and
- Escalating inside battle between Bitmain’s co-founders.
Twin CEO System Collapses Amid Founder Battle
Bitmain’s twin CEO construction, which allowed each Zhan and Wu to steer the corporate, collapsed utterly in 2025. Wu, a Peking College graduate, reportedly used political connections to problem Zhan, a Chinese language Academy of Sciences alumnus who targeted on chip design and manufacturing.
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Their rift mirrors broader business dangers, demonstrating the risks of intertwining enterprise with influential backers.
This alleged inside upheaval comes as Bitmain faces mounting exterior pressures. Whereas Zhan traditionally targeted on technical operations, Wu has led strategic partnerships and enterprise improvement.
The absence of both founder may depart operational gaps at a time when Bitmain stays central to Bitcoin mining worldwide. The agency is already dealing with a lawsuit from Outdated Const alleging breach of a internet hosting deal and makes an attempt to reclaim mining {hardware} with out trigger.
Geopolitical Dangers and Infrastructure Vulnerabilities
Past company disputes, Bitmain faces scrutiny from US authorities over potential {hardware} safety threats. In June, Bitmain and two different corporations relocated to the US to bypass new tariffs and optimize provide chains.
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Nevertheless, with the corporate’s mining infrastructure embedded in each crypto and AI knowledge facilities, nationwide safety considerations amplify the stakes.
Any compromise may ripple by way of world Bitcoin networks, highlighting crypto’s ongoing vulnerability to geopolitical tensions.
Current crackdowns on Xinjiang mining farms, mixed with Zhan’s alleged detention, have fueled hypothesis of coordinated regulatory strain.
The crypto sector stays vigilant, because the scenario may impression mining {hardware} markets, provide chains, and aggressive dynamics.