Most crypto companies will 'crash' after years of industry Ponzi schemes: Palantir co-founder [FOX News]
Palantir Technologies Inc. Class A (PLTR)
Company Research
Source: FOX News
closeVideoCrypto industry has been full of 'Ponzi schemes': Palantir co-founderCrypto and Web3 have unrealized potential, but the lack of regulation over the years has led to speculative bubbles and Ponzi schemes, Joe Lonsdale says. crypto companies are going to fall toPonzi scheme-style bankruptcy"Overall, I think you're going to have most things crash," said Joe Lonsdale, an investor and a co-founder of software company Palantir. Various crypto lenders, crypto tokens and other parts of the ecosystem were "a Ponzi scheme, and it made no sense whatsoever.""This is what you'd expect in any situation where you have stuff that's not regulated," he added.WATCH PALANTIR CO-FOUNDER PREDICT THE FUTURE OF CRYPTO EXCHANGES:WATCH MORE FOX NEWS DIGITAL ORIGINALS HEREOver the last several years, crypto projects have been "valued not based on cash flows, not based on creating value in the economy, but based on what people would pay for it," Lonsdale said.FTX founder Sam Bankman-Fried is facing an
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PLTR
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- 2/5/24 - Beat
PLTR
Sec Filings
- 4/3/24 - Form 4
- 4/3/24 - Form 4
- 4/2/24 - Form 4
- PLTR's page on the SEC website