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Economist Nouriel Roubini Blasts Crypto Market as a Total Criminal Enterprise

Tue, 03/28/2023 - 19:50
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Alex Dovbnya
Renowned economist Nouriel Roubini has once again taken aim at the cryptocurrency market, this time labeling it a "total criminal enterprise" on Twitter
Economist Nouriel Roubini Blasts Crypto Market as a Total Criminal Enterprise
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Renowned economist Nouriel Roubini recently criticized the cryptocurrency market on Twitter, describing it as a "total criminal enterprise" due to constant market manipulation.

Roubini's comments follow the recent lawsuit against Binance by the CFTC for allegedly willfully evading US law.

"Dr. Doom" has consistently criticized the cryptocurrency industry. In a recent tweet, he expressed satisfaction over the collapse of several crypto-related banks, noting that they are all collapsing. He has also previously lambasted the crypto sector for the high risks associated with it, predicting that the entire industry will go extinct because of these risks.

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The tweet from prominent crypto skeptic Bitfinex'ed that sparked Roubini's criticism suggests that exchanges and market faker friends inflate the market just before enforcement actions.

This manipulation is viewed as a deliberate attempt to evade the law, raising concerns among regulators and investors.

The recent CFTC lawsuit against Binance alleges that the company's compliance efforts have been insincere and that it has deliberately prioritized profits over legal compliance.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.