Initially posted here.
By: Adewumi Victor
Overview
Because the Chinese language authorities continues to have a good time the decline of the cryptocurrency market, a high Chinese language blockchain skilled has known as crypto a Ponzi scheme. The CEO of Purple Date Expertise, one of many main tech companies in growing China’s main blockchain undertaking, Yifan He, lately wrote an article the place he defined the Ponzi-like nature of varied sorts of cryptocurrencies. The native newspaper, The Individuals’s Day by day, revealed the article on Sunday. Within the piece, Yifan tagged non-public cryptocurrencies because the “greatest Ponzi scheme in human historical past.”
Yifan additionally talked about the collapse of the Terra community and the …
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