Main navigation

'Black Swan' Author Bashes Coinbase Insiders and CEO for Getting Rich by Dumping COIN After IPO

Thu, 05/04/2023 - 09:55
article image
Yuri Molchan
Famous writer and risk management expert Nassim Taleb has used his recent book title to describe Coinbase CEO and other insiders who sold COIN right after IPO
'Black Swan' Author Bashes Coinbase Insiders and CEO for Getting Rich by Dumping COIN After IPO
Cover image via

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

Nassim Taleb, well known as the author of "Black Swan," "Antifragile," "Skin in the Game" and other nonfiction books on handling risk and uncertainty, has taken to Twitter to again confirm his anti-crypto position and also to criticize those whom he believes to be charlatans in the crypto space.

Along with crypto and blockchain, he also slammed start-ups with a "neuro" prefix, calling them fraudsters.

"Great refuge for the charlatans"

Taleb posted a tweet, saying that " 'Neuro' something" has always been a "great refuge of the charlatans."

However, the caricature on the blackboard in the picture clearly says "Bloke chain. Hedge" and shows a man in a suit in hysterics from laughter next to it.

Taleb is a former Bitcoin advocate who made a U-turn on this subject a couple of years ago, and since then, he has been criticizing BTC and all cryptocurrencies overall, calling Bitcoin a "tumor" in particular and other similar names, constantly displaying his skepticism toward crypto.

As reported by U.Today, roughly a month ago, Taleb appeared on a Bloomberg podcast with Joe Weisenthal and criticized Bitcoin as a "very fragile commodity."

He believes that the flagship cryptocurrency is in fact controlled by a small number of people, and it is just a book entry that needs to be maintained all the time.

Breaking: Bitcoin (BTC) Stumbles as Fed Opts for Another Rate Hike

Slamming Brian Armstrong and other COIN sellers

In another recent tweet, the scholar commented on the tweet of analyst Ed Elson dated May 2, in which the former shared a list of people who sold COIN shares right after the IPO of major U.S.-based crypto exchange Coinbase was conducted in April 2021.

That list of people who sold their COIN a month after the IPO includes several Coinbase executives and chief executive Brian Armstrong. He, in particular, earned $291.8 million on that sale and comes second after Fred Wilson, a U.S. venture capitalist and early Coinbase investor. He made $1 billion by selling his COIN shares. They got rich on that, Taleb stressed.

Taleb called this "inverse 'Skin in the Game,' " contrary to the title of his book. He stated that Coinbase "sold a story" to investors and then "transferred the downside to suckers."

article image
About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at