I try to read both sides of the crypto story – the believers and the critics. Amy Castor and David Gerard have just dropped a new post offering a detailed update of the argument that a lot of crypto (and DeFi) is mostly a Ponzi scheme.
The TL;DR is “there’s no money left, and no more coming in” according to Amy and David but their long answer can be found here and is (I believe) worth reading whatever side of the debate you sit on.
The post admittedly plays to my sceptical bias on crypto and DeFi but let me know what I am missing.
Tony – From The Outside
P.s. if you want to hear the other side then “The Breakdown”, a podcast by NLW, is one of the sources I rely on.