June 17, 2021
Crypto markets are heavily rigged and many of the cryptocurrencies created and issued are pyramid schemes. Many of the creators of these schemes are anonymous and could be extremist groups and criminal cartels.
The formations of cartels is very common in the crypto sector and there is a lot of collusion between these cartels.
The biggest cryptocurrency Bitcoin is backed with very little fiat and appears to be pumped by fraudulent pump and dump tokens, counterfeit stable coins tokens such as Tether, and relies too heavily on criminal activity such as human trafficking, narcotics and ransomware.
Something so corrupt and so dangerous to the public, politics and the environment should not be given the status of exchange traded fund (ETF).