BNB Drops 6% as "Dr. Doom" Roubini's Criticism of CZ Considered Bullish by Some in Community
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.
Prominent economist Nouriel Roubini, who accurately predicted the mortgage market crisis a few years before it actually struck the world in 2008-2009 that earned him the nickname "Dr. Doom," has tweeted in response to a Twitter user about CZ of Binance.
User @esatoshiclub stated that Roubini's recent criticism of the Binance chief executive and co-founder CZ is bullish for Binance and its native coin.
However, BNB has dropped nearly 6% since Sunday morning, Roubini reminded the "Satoshi Club" bullish-on-BNB-thanks-to-Roubini Twitter user.
"Happy to send 'bullish' signals any time": Roubini
"Satoshi Club" stated that Roubini has been criticizing Bitcoin since BTC was worth $10, adding that "Dr. Doom's" frustration with Changpeng Zhao is "a bullish sign" for both Binance exchange and its native coin that fuels all operations on it – BNB.
In response, Roubini reminded the whole crypto community that over the past 24 hours, Binance Coin (BNB) has lost nearly 6% of its value, per CoinMarketCap data, dropping from $313 to the current level of $294.
He also stated that BNB is currently trading 55% below its all-time high of $690. According to the aforementioned crypto reference platform, at the time of this writing, BNB is down 57.31% from that historic peak.
Such a bullish sign for that crappy BNB that it dropped 4% in the last 24 hours alone. And it is down 55% from its ATH a year ago. Happy to send you such “bullish” signals any time . Be my guest! https://t.co/oqO56vxORs
— Nouriel Roubini (@Nouriel) November 28, 2022
Over the past couple of weeks, Roubini has been spreading heavy criticism over Binance's CZ, saying that Binance is like FTX, BNB is similar to FTT and CZ is even shadier than former FTX chief Sam Bankman-Fried.
The reason Roubini mentioned for that is that Changpeng Zhao has not been revealing the location of the Binance headquarters, whereas with FTX it was common knowledge that its head office was based in "the shady Bahamas."
Yuri MolchanRobert Kiyosaki takes dig at FTX
The famous investor, who made his fortune in real estate and wrote the bestselling book on financial literacy "Rich Dad, Poor Dad," has taken to Twitter to slam Sam Bankman-Fried (SBF) and his former FTX exchange.
In his tweet, Kiyosaki, who is also a big crypto fan and supports (and holds) Bitcoin, as well as gold and silver, referred to FTX and SBF as "crypto code for 'I see stupid people.' " The point he wanted to get across is that the community should not trust "big names" and those who the media calls "geniuses." However, his message is wider than just crypto, also spreading to the sphere of education and pharmaceuticals; he is slamming "big universities" and "Big Pharma," stating that all of them are corrupt.
SBF-FTT-FTX: Crypto Code for “I see stupid people.” Stupid people who believe Brand Name Universities, can turn polyamorous wierdos into “financial geniuses.” BIG UNIVERSITIES are as corrupt as BIG PHARMA. SBF and FAUCI are both power hungry nerds. WAKE UP! We are being WOKED.
— therealkiyosaki (@theRealKiyosaki) November 28, 2022
Arman Shirinyan
Alex Dovbnya
Dan Burgin
U.Today Editorial Team
Vladislav Sopov