A transcript from a podcast that Sam Bankman-Fried was on back in Feb where he describes what is happening as putting money into a box, and then when more people add money to the box the box pays dividends to existing holders (aka a ponzi).
That's a pretty big red flag right there, one that everyone seems to have missed or willingly overlooked.
That's a pretty big red flag right there, one that everyone seems to have missed or willingly overlooked.