**Ponzi vs. pyramid schemes: What’s the difference?**

https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=90,width=840/https://s3.cointelegraph.com/storage/uploads/view/f638ac6b960baca348b55ac3f6c719fe.jpg

Ponzi schemes promise returns generated from the money of future investors, while in pyramid schemes, income flows up through recruitment.

https://cointelegraph.com/explained/ponzi-vs-pyramid-schemes-whats-the-difference