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Economist Nouriel Roubini Blasts Crypto Market as a Total Criminal Enterprise

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Tue, 28/03/2023 - 19:50
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.

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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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