On April 25, 2022, former FTX CEO Sam Bankman-Fried (SBF) appeared on the Odd Lots podcast, where he inadvertently described a process akin to a Ponzi scheme while explaining "yield farming." SBF used the analogy of a "box"—a project created with minimal resources and a token issued without intrinsic value. He suggested that with sufficient hype and influence, such a project could attract $200 million in investment, driven by a cycle where prices rise as more money flows in, and more money flows in as prices rise. This description highlighted the speculative nature of some crypto investments, drawing parallels to a faith-driven Ponzi scheme.
Former FTX CEO SBF's Podcast Remarks Resemble Ponzi Scheme
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