[Chinese Police Launch Investigation into CreditEase-Related Companies, Whose Funds Previously Participated in Crypto Project Financing for Circle, Figure, etc.] BlockBeats News, October 12: The Chaoyang Branch of the Beijing Municipal Public Security Bureau issued a police report stating that it has recently launched an investigation into alleged illegal activities involving companies related to the Chinese fintech firm CreditEase. Currently, several suspects, including the actual controllers Tang (male, 53 years old) and Zhao (female, 51 years old), have been subjected to criminal coercive measures in accordance with the law. The police emphasized that they are fully committed to investigating the case and urged investors to actively cooperate in providing evidence while remaining vigilant against fraud schemes under the guise of "early repayment." CreditEase is a Chinese fintech company founded by Tang Ning, which initially operated P2P products. Its subsidiary, Yirendai, was previously listed on the New York Stock Exchange. On May 22 of this year, CreditEase completely ceased repayments for its fixed-income-like products, initiating what it called a "orderly exit," involving approximately 30 billion yuan and affecting nearly 100,000 high-net-worth clients. After more than four months of halted repayments, CreditEase recently sent an apology letter to clients, admitting that the group may already be insolvent and facing a significant debt repayment gap. CreditEase has a broad presence in wealth management and investment businesses. Public information reveals that its funds have directly participated in financing crypto-related projects such as Circle, Figure, Poko, and Cashmere Wallet, and have contributed as LPs to multiple traditional VC funds. CreditEase also operates a physical entity in Singapore, CreditEase Asset Management (Singapore) Pte. Ltd., which holds an MAS license and primarily engages in asset management activities.