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- Nouriel Roubini stated that crypto markets are full of criminal activity, manipulation, and other illegal activities.
- In a Tuesday tweet, the famed economist called the industry a "criminal enterprise".
- The crypto bear stated earlier this year that the space was a "total real bubble Ponzi scheme" and is about to go bust.
Nouriel Roubini will be aiming at crypto this week.
In a Twitter tweet, the famous economist stated that Tuesday's trillion-dollar industry was full of "constant marketplace manipulation" and "total criminal enterprise."
–Nouriel Roubini, @Nouriel, March 28, 2023
His comments were based on claims by Bitfinex, a well-known pseudonymous cryptocurrency blogger. He claimed that token prices rose before financial regulators enforcement actions. He also accused exchanges of inflating market prices by coordinating with "market faker" friends.
This isn’t the first time Dr. Doom has attacked digital assets.
Roubini celebrated the fall of the banks that cosy up to the crypto sector earlier this month. Roubini vented his anger after Silvergate, Signature Bank and Silicon Valley Bank failed. He ended with a simple message: Good riddance.
He wrote that the US government's decision not to protect customers from losses at Signature and SVB was "sickening." What logic is there to protecting Signature Bank's depositors, who recklessly jumped into the crypto sandbox and bet the house on shitcoins?
Roubini stated that "literally 99 percent of crypto is a fraud" and that it is a Ponzi scheme with total real-bubbles.
Roubini, an economist who called the 2008 recession, told Yahoo Finance in Davos, Switzerland, "You have [to stay away] from crypto, you have to absolutely stay away."
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By: mchittum@insider.com (Morgan Chittum)
Title: ‘Dr. Doom’ economist Nouriel Roubini says the crypto industry is a ‘total criminal enterprise’ riddled with market manipulation
Sourced From: markets.businessinsider.com/news/currencies/crypto-nouriel-roubini-dr-doom-total-criminal-enterprise-market-manipulation-2023-3
Published Date: Tue, 28 Mar 2023 17:04:44 +0000
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