Yuri Molkhan
Max Keizer has called DeFi a scam and LUNA the latest example of a scam
contents
- LUNA Doesn’t Represent All Cryptos: Jake Chervinsky
- “LUNA is emblematic of all DeFi [scams]”
Prominent bitcoin supporter Max Keizer has responded to a tweet by Joe Weisenthal, a Bloomberg business news host and Odd Lots podcast co-host, who called UST/LUNA an “egregious example of Ponzi-style play.”
Keizer also slammed LUNA as well as DeFi, Ethereum and even Mike Novogratz, linking them all to fraud.
LUNA Doesn’t Represent All Cryptos: Jake Chervinsky
Weisenthal tweeted that while decentralized finance apps have been the “biggest thing in crypto” in recent years, the reality is that they have had little economic impact. He tweeted this in response to Jake Chervinsky, head of policy at the Blockchain Association.
Chervinksy had complained on Twitter that anti-crypto media had hit LUNA hard, stating that basically all cryptos are potentially like LUNA/UST.
To sue
Anti-crypto media is milking UST with all it’s worth. I’ve seen a few unfair reviews this week behaving like all crypto is just one big algo stable.
Annoying but to be expected. That’s just how it is. What matters is that the hits are not translated into politics. So far, so good.
— Jake Chervinsky (@jchervinsky) May 19, 2022
Weisenthal has called LUNA “a particularly egregious example of a broader phenomenon of Ponzi-like games across the space” as he appears to believe all DeFi are Ponzi schemes.
He likes Uniswap and other AMM (Automated Market Maker Protocols) and says they have potential that could one day make them commercially important.
“LUNA is emblematic of all DeFi [scams]”
Max Keiser, economist and RT host of his own finance and bitcoin show, tweeted to Weisenthal that he fully agrees with defining DeFi as a scam and Ponzi scheme (which he says is based on their yield farming mechanisms). tweet work).
As for LUNA and Terra’s UST stablecoin, Keizer has called them “emblematic of all DeFi.”
Some harsh criticism was even leveled at Galaxy Digital CEO Mike Novogratz, who was a fan of LUNA until it collapsed and even got a tattoo of it (a wolf howling at the moon).
Agreed.
DeFi (like ICOs) was a scam from the start. The underlying “yield” is based on Ponzi nouns. LUNA/UST is emblematic of all DeFi. Shysters like @novogratz are scammers who prey on noobs. ETH is an exit scam. https://t.co/8cqcl3Ah04
— Max💙🇸🇻 (@maxkeiser) May 19, 2022
Keizer is known as one of the Bitcoin OGs and he is critical of all altcoins, calling them scams, including the second largest crypto, Ethereum, which runs most DeFi apps.
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