FTX was in talks two months ago to raise 1Billion equity at 32Billion valuation. Binance threatens to sell its holdings of FTX tokens and it all crumbles? How isn’t this a big Ponzi scheme?
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> How isn’t this a big Ponzi scheme?
Wrong scam. Ponzi schemes work by paying existing investors with the money taken from new investors, creating the illusion of profit, to lure in more new investors. There is no value, just money moving around
Bitcoin and crypto are pump and dump scams. Something absolutely worthless is created, you convince a bunch of people it is worth something and will get more valuable over time, you trade it amound other pump and dump scammers at ever higher prices creating the illusion of value growth and driving up the price, and then unload the worthless item to a bunch of suckers for the artificially inflated price. There is no value, just preying on uninformed, greedy people.
Crypt is a pump and dump scam, not a ponzi scheme.
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