NYU Professor Nouriel Roubini, aka Dr. Doom, has warned that “99.99% of crypto is a scam, a criminal activity, a total real-bubble Ponzi scheme that is going bust.” He advised investors to “absolutely stay away” from crypto, claiming that most people in the crypto space are “all crooks.”
Dr. Doom Warns Nearly 100% of Crypto Is a Scam
Economic professor Nouriel Roubini, aka Dr. Doom, warned about cryptocurrency in an interview with Yahoo Finance Live Wednesday at the World Economic Forum in Davos, Switzerland.
Roubini is a professor of economics and international business at New York University (NYU) Stern School of Business. He also serves as chairman of Roubini Global Economics, a global macroeconomic and market strategy research firm that he co-founded. He told the news outlet:
Literally, 99.99% of crypto is a scam, a criminal activity, a total real-bubble Ponzi scheme that is going bust.
Dr. Doom also shared his opinion on the collapsed crypto 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’re a rule,” Roubini exclaimed.
The NYU professor proceeded to advise against investing in cryptocurrencies. He stated that 99% of bitcoin investors did not buy BTC at $1,000 or $10,000. “Most of them got FOMO [fear of missing out] in 2021 when it was skyrocketing from…
