NYU professor 'Dr. Doom says that 99 % of cryptocurrencies are fraud - asks investors to stay absolutely away - featured
NYU professor 'Dr. Doom says that 99 % of cryptocurrencies are fraud - asks investors to stay absolutely away - featured
dr. Doom warns that crypto is almost 100 % a fraud
Economic professor Nouriel Roubini, also known as Dr. Doom, warned in an interview with Yahoo Finance Live on Wednesday at the World Economic Forum in Davos, Switzerland, of cryptocurrencies.
Roubini is a professor of economics and International Business at the Stern School of Business at New York University (NYU). He is also the chairman of Roubini Global Economics, a global research company for macroeconomics and market strategy that he co -founded. He told the news agency:
Literally 99.99 % of cryptos are fraud, a criminal activity, a total snowball system that goes broke.
dr. Doom also shared his opinion about the collapsed crypto exchange FTX and her unfavorable founder Sam Bankman-Fried (SBF). FTX requested last November and SBF is currently facing more allegations of fraud what he has pleaded on not to. "FTX and SBF are no exception - they are the rule," explained Roubini.
The NYU professor advanced further from investing in cryptocurrencies. He explained that 99 % of Bitcoin investors would not have bought bitcoin at 1,000 or 10,000 dollar. "Most of them have Fomo [Fear of Missing Out] in 2021 when they exploded $ 20,000 $ 69,000," he emphasized, emphasizing that 99 % of Bitcoin investors bought the cryptocurrency "well above the current market value".
Roubini said: "So you lost your shirts. It's a nightmare." Dr. Doom noticed that Bitcoin investors are not the only ones who lose money because other cryptocurrencies "have fallen 90 %, 95 %". He added: "Of 20,000 ICOS [Initial Coin Offerings], 80 % were officially a fraud and another 17 % went to zero.
In terms of crypto investment, Roubini:
You have to stay away. You absolutely have to keep your distance. And most of these people literally belong to prison - they are literally all crooks.
The NYU professor of economics has long been a loud critic of cryptocurrencies and claims that most crypto supporters are fraudsters. He called Binance CEO Changpeng Zhao (CZ) "a walking time bomb".
Before that, the chairman of the US stock exchange supervisory authority SEC, Gary Gensler, warned Most crypto tokens will fail and ask the investment with this investment class to enter the fomo. In the meantime, a former SEC implementation officer, John Reed Stark, warned, before regulatory attack Sec just starts.
What do you think of the crypto warnings from NYU professor Nouriel Roubini? Let us know in the comment area below.
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