Posted 12/28/2023, 10:18:00 AM
Crypto Project Blast Draws Over $1B in Pre-Launch Deposits, But Marketing Raises Concerns
- Blast has attracted over $1.1 billion in deposits ahead of its launch in February, driven by promises of a future airdrop
- Depositors receive yields of around 5% plus "Blast Points" that can be redeemed for a May airdrop
- The ability to deposit before launch has drawn criticism of being a potential pyramid scheme
- Blast backers Paradigm said the marketing campaign "crossed lines" though still support the project
- The deposits come amidst surging crypto prices, with bitcoin up 150% and ether doubling in 2022