Quoted from hansard.parliament.uk on
The story of the past few months is this: crypto has crashed, and so has the Chancellor—and how similar they are. The Chancellor and cryptocurrency came out of nowhere. The value surged, and it looked like the future, but it has all turned out to be one giant Ponzi scheme.
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This statement expresses a highly critical and dismissive stance toward crypto, likening it to a “Ponzi scheme” and using it metaphorically to criticise the Chancellor. It portrays crypto as a failed trend, characterised by hype, collapse, and lack of substance.