Anecdotally, I hadn't visited Brazil in almost 4 years. Went there some months ago and was definitely surprised (and shocked) by how much chatter about cryptocurrencies was going around. Uber drivers, waiters, bartenders, cashiers, I had experience with them and many other people trying to tell me how they were into crypto, showing me graphs of their earnings (or losses), etc.

It was really alarming to see how many vulnerable people had bought into this mania in a poor country. The moment this bubble pops and crashes it will bring down a lot of non-cryptobros that are being shilled, either by influencers or other "hodlers" friends or family (that may actually think it's a good "investment").

It's looking pretty ugly for the next recession.

You should check out MMM Global

https://behindmlm.com/companies/mmm-global/

It appears the main guy behind it died recently, but its still an active movement in Africa.

https://behindmlm.com/companies/mmm-global/mmm-globals-serge...

The number of people caught up in these scams is just insane:

3 million Nigerians lose $57 million in MMM Nigeria collapse

https://behindmlm.com/companies/mmm-global/3-million-nigeria...

Incidentally, much like the Tabaco industry.

No doubt, as western nations increasingly ban this stuff or regulate it out of existence, the scam will move across the ocean.