New York University professor Nouriel Roubini, aka Dr. Doom, warned that “99.99% of crypto-currencies are a scam, a criminal activity, a true Ponzi bubble that will fail“. He advised investors to “stay absolutely away” from crypto, claiming that most people in the crypto space are “all crooks.“
Dr. Doom warns that almost 100% of crypto-currencies are scams.
Economics professor Nouriel Roubini, aka Dr. Doom, warned against crypto-currencies in an interview with Yahoo Finance Live Wednesday at the World Economic Forum in Davos, Switzerland.
Nouriel Roubini is a professor of economics and international business at the Stern School of Business at New York University (NYU). He is also president of Roubini Global Economics, a macroeconomic research and market strategy firm he co-founded. He told the media:
Literally, 99.99% of crypto is a scam, a criminal activity, a real Ponzi bubble that will fail.
Dr. Doom also shared his opinion on the collapse of the crypto-currency exchange FTX and its disgraced founder Sam Bankman-Fried (SBF). FTX filed for bankruptcy last November and SBF is currently facing several fraud charges, all of which he has pleaded not guilty to. “FTX and SBF are not an exception – they are a rule“, exclaimed Nouriel Roubini.
The New York University professor went on to advise against investing in crypto-currencies. He said that 99% of bitcoin investors have not bought crypto-currency securities at $1,000 or $10,000. “Most of them had…
