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this post was submitted on 25 Oct 2025
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Pyramid schemes are not legal in the US.
There are some systems that have some aspects in common with pyramid schemes that are legal (Social Security sometimes gets called a "pyramid scheme" by people that don't like it, for example, and MLM schemes are legal, though they can, in practice, partially work something like pyramid schemes).
I assume people arguing this also don't have any other form of insurances?
I am not a lawyer, so I can't make any claims about US law.
If, as you claim, pyramid schemes / ponzi / pump and dumps are not legal in the US. , how is it that A16Z leadership wasn't arrested for investing in Axie Infinity?
A business model like Axie Infinity is mathematically impossible. The same cannot be said of government safety net systems.
I'm not familiar with Axie Infinity, so I can't tell you off-the-cuff.