Is Crypto a Ponzi? Define 'Ponzi'

Is Crypto a Ponzi? Define 'Ponzi'
If you can believe it, scams and Ponzi schemes have existed and thrived in the cryptocurrency industry well before the recent speculative exuberance around decentralized finance (DeFi), non-fungible tokens (NFTs) and token launches on blockchains like Binance Smart Chain. For sure there are a lot of sketchy “profile pic” projects (PFPs) and questionable economic games played using smart contracts, those lines of code that supposedly cut out the middlemen from basic financial services. So, you know, do your own research.Thankfully, some crypto projects make it easy for you. In 2014, Ponzi.io launched. It promised 1.2 times returns paid in bitcoin…