Chinese Cryptocurrency Platform Collapses, Prompting Concern That It Was Ponzi Scheme

Chinese Cryptocurrency Platform Collapses, Prompting Concern That It Was Ponzi Scheme
Screenshot of video of Aishang’s victims talking to police. Oct. 15, 2020
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A Chinese cryptocurrency trading platform recently collapsed, prompting speculation that the site was running a scam.

On Oct. 15, the platform, Aishang, saw the cryptocurrency traded on its site named Tether plummet from 0.268U (USDT, equivalent to $0.28) to 0.05U within 3 minutes of opening.