Bitcoin pyramid schemes wreak havoc on Brazil's 'New Egypt'

  

 

"Despite the charges, dos Santos represents an unlikely hero to supporters. Many view him as a modest Black man whose unorthodox Bitcoin business made them wealthy by gaming a financial system they believe is rigged by wealthy white elites.

The case also underscores the fast-growing appetite for cryptocurrencies in Brazil, where years of economic and political crises have made digital currencies an attractive shield against depreciation of the Brazilian real and double-digit inflation."

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Bitcoin pyramid schemes wreak havoc on Brazil's 'New Egypt' | The Independent