Blockchain-based Service Network (BSN) founder has some harsh words for the cryptocurrency industry.
Yifan He, the CEO of Blockchain-based Service Network , published an article on June 26 referring to cryptocurrencies as the “biggest Ponzi scheme in human history.” He is also the CEO of Red Date Technology, which happens to be one of the founding members of China’s blockchain infrastructure.in the state media wherein the founder mentioned Tesla chief Elon Musk’s tweets influencing Dogecoin’s price in 2021 while describing the market as an “old scam, new form.
He also cited the examples of Microsoft founder Bill Gates and Berkshire Hathaway CEO Warren Buffett, both vastly successful and influential figures but have long believed the crypto story will not end well. Following the rapid declines, Beijing has renewed efforts to discourage Chinese investors from all crypto-related activities.