$1B Crypto Ponzi Scheme Revealed by Regulators

Published by
The Street

By Riley Gutiérrez McDermid Whipsawing markets and faltering assets have shocked the nascent crypto market. Now, regulators say they’ve uncovered a Ponzi scheme. It’s been a tough six months to be a crypto investor. Whipsawing markets, faltering assets and economic pressures have all combined to shock the nascent market. The price of crypto’s best-known coin, bitcoin, has slumped since November and currencies that were touted as safe and secure because they were pegged to the dollar and monitored via exchanges have seen their valuations crumble. There were some high points. Crypto evangelists …

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