Are crypto tokens Ponzi schemes?

… JPMorgan Chase CEO Jamie Dimon likened crypto tokens to Ponzi schemes before a U.S. House Committee Oversight hearing on Wednesday, reiterating his well-known criticism of cryptocurrencies. “I'm a major skeptic on crypto tokens, which you call currency like Bitcoin.

What does Jamie Dimon think of crypto tokens?

In a CNBC interview, JPMorgan Chase CEO Jamie Dimon compares crypto tokens to collecting "pet rocks" and explains why he's long been critical of cryptocurrencies. msnback to msn homenews Skip To Navigation Skip To Content Skip To Footer Sign in

What are decentralised tokens?

They are decentralised tokens issued on a blockchain that aim to be a store of value, or a medium of exchange. There are over 4,000 cryptocurrencies but bitcoin, and to a lesser extent, ethereum, XRP, litecoin, and bitcoin cash, dominate the market.

Is Dimon a skeptic of blockchain?

However, Dimon said he is not a skeptic of blockchain technology itself or other innovations such as Decentralized finance (DeFi) and “tokens that do something” such as those used to transact money or other information when asked what were the biggest obstacles preventing JPMorgan from being more active in the crypto space.