We see bitcoin as a bit of a Ponzi scheme,” David Gledhill, group chief information officer and head of group technology and operations at DBS, told CNBC on Wednesday.
Bitcoin transactions are “incredibly expensive” and “all the fees are hidden through the crypto-mechanisms,” he said on the sidelines of the Singapore Fintech Festival. “We don’t think DBS being in that game right now is going to create a competitive advantage for us.
Eulogy made by David Gledhill
Top Stories
Free Bitcoin Crash Course
- Enjoyed by over 100,000 students.
- One email a day, 7 days in a row.
- Short and educational, guaranteed!
Why you can trust 99Bitcoins
10+ Years
Established in 2013, 99Bitcoin’s team members have been crypto experts since Bitcoin’s Early days.
90hr+
Weekly Research
100k+Monthly readers
50+
Expert contributors
2000+Crypto Projects Reviewed
Follow 99Bitcoins on your Google News Feed
Get the latest updates, trends, and insights delivered straight to your fingertips. Subscribe now!
Subscribe now 
