Adam Back compared Ripple and Ethereum to a pyramid scheme
The head of the Canadian blockchain company Blockstream, Adam Back, drew attention to the similarity of some popular cryptocurrencies with the structure of classical financial pyramids.
Inspired by the Ponzi scheme
A well-known businessman in the cryptocurrency community compared Ethereum, Ripple, Stellar, Cardano, and EOS to scams in the form of cryptocurrency pyramids. Adam believes that the creators of these projects are similar to the creator of the first financial pyramid, Charles Ponzi.
The founders of the mentioned projects owned 70% of the emission
The entrepreneur backed up his words with the fact that more than half of the entire emission was originally issued by the project owners, and belongs to them. Adam added that Ethereum and Ripple can compete for the title of the largest SCAM