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In conjunction with the sharp decline in the cryptocurrency market with rising interest rates around the world, JPMorgan CEO Jamie Dimon has issued strong criticism of these currencies, describing them as a “fraudulent scheme similar to a Ponzi scheme”.
In his testimony before the US Congress, Damon said that he is one of the main skeptics ofCryptocurrenciesHowever, he considered that stable cryptocurrencies that are pegged to the dollar or real currencies are not a problem.
A Ponzi scheme is a scam that involves paying returns to existing investors from money injected by new investors.
Today, Thursday, the price of Bitcoin fell below $19,000.
