Report
The Crypto Industry Is Getting Too Honest
What if no one cares whether it’s a Ponzi scheme?
wired.com
This is kind of crazy. The head of major crypto trading platform admitted that yield farming is essential a Ponzi scheme... and nobody cares
It gives me strong vibes of pre-2008 Finance Industry. Not the systemic risk part. But the "we're very much aware we're doing kind of evil, but hey as long as the 💰 flows..." mentality. The mindset also seems quite present in the NFT space.
Agreed. It might be even worse in NFTs TBH.
From the article:
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