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The New Daily
The New Daily
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Michael Pascoe

A Ponzi scheme is a Ponzi scheme, crypto or otherwise

The end of the ultra-cheap-money era will expose countless crypto ponzi schemes, writes Michael Pascoe. Photo: Getty

A facet of the crashing crypto game (I really can’t call it a “market”) has reminded me of a journalistic failure a quarter of a century ago, a story that got away and ended up costing mugs millions of dollars.

A lesson from that failure was that a product that stinks is stinking for a good reason – there’s something putrid beneath it that will prove poisonous.

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