Are 'crypto tokens' a Ponzi scheme?

Just this month, Jamie Dimon, the CEO of JPMorgan, called “crypto tokens ' decentralized Ponzi schemes '.” On the other hand, large institutional investors like Fidelity are adding bitcoin to the offerings in corporate 401 (k) and are considering allowing individual customers to trade it.

What does Jamie Dimon think of crypto tokens?

In a CNBC interview, JPMorgan Chase CEO Jamie Dimon compares crypto tokens to collecting "pet rocks" and explains why he's long been critical of cryptocurrencies. msnback to msn homenews Skip To Navigation Skip To Content Skip To Footer Sign in

Are Ponzi schemes a good investment?

Ponzi schemes prey on the almost insatiable desire of people to “get rich quick.” Crypto is a prime target for the masterminds of Ponzi schemes. Average investors do not fully understand the technology that crypto uses or how to evaluate a cryptocurrency as a sound investment.

What is a late-stage Ponzi scheme?

Late-stage Ponzi schemes are often fraught with problems with slow withdrawals, problems “accessing funds” and the eventual disappearance of the con artists with any remaining assets. Ponzis are notorious for enticing victims by leveraging their mastery or superior knowledge of a “new technology” as a selling point for targets.