Mercurity Fintech a ‘blatant scam,’ short-seller Morpheus says

Morpheus Research, which notes that it holds short positions in Mercurity Fintech Holding, calls Mercurity “a virtually zero-revenue business with a decade of failed business initiatives that now claims to operate at the forefront of AI hardware, financial technology, and blockchain.” The short-seller, which calls Mercurity a “blatant scam,” claims “insiders have numerous ties to crypto scams, stock market pump-and-dumps, and a billion dollar Ponzi scheme.” The firm adds that it believes Mercurity “will continue to lose money until there is nothing left and it is relegated to the annals of stock market history as yet another pump and dump.”