The Chinese police have arrested CHEN Shaojie, the founder and CEO of live streaming platform Douyu, on unspecificed charges, the company confirmed on Tuesday night.
Douyu’s shares slid more than 6 percent in pre-market trading to US$0.9 per share and its market cap shrank to only US$308 million (2.2 billion yuan), down 95.3 percent from its peak in 2021.
