NYU Professor ‘Dr. Doom’ says 99% of crypto is a scam – tells investors to ‘stay away absolutely’
In a live chat and interview with Yahoo Finance on Wednesday at the 1st World Economic Forum in Davos, Switzerland, economics professor Nouriel Roubini, aka Dr. Went. Roubini is a professor of economics and international trade at the Stern School of Business at New York University (NYU) and serves as the Roubini Chair in Global Economics. This form, of course, is the global business economic and market strategy research firm he founded. They tell the news outlet that in fact, 99.99% of cryptocurrencies are marked as a scam and it is seen as a criminal activity and if we look at the whole situation and assess it, we find that the whole The real plan is just a dummy plan which is sure to fail and lose its effectiveness. For example, he used the collapse of FTX last November as a reference and said that he was definitely talking about former CEOs who were present at FTX in his statement. He added that with his filing for bankruptcy last November, it is certain that the former CEO is still facing claim money and that the man, who has been in prison, is on remand from the US Department of State for fraud. and on many occasions he has proved to himself that he is innocent but of course this is no exception and it is connected to all.
He further says that you should continue against investing in crypto currency because of course his advice is for this. He went on to say that 99% of bitcoin investors didn’t buy bitcoin at $1000 or even $10000 and most of them got FOMO [fear of missing out] in 2021 when it skyrocketed from $20,000 to $69,000 and They insist that 99% is bitcoin. Who is the investor who currently trades or buys crypto currency well above market value?
The professor further explains that it is a bad dream. He added that bitcoin investor money is not alone in the corner as other cryptocurrencies have “plunged by 90%, 95%.” further states that “out of 20,000 ICOs [initial coin offerings], officially 80% existed as a scam and the other 17% went to 0. So this means that 97% were either scammed or lost everything. Roubini’s advice about crypto investing is that you have to stay away from it and stay away completely because most people are actually in prison. Everyone in the industry is a crook and everyone presents different misleading statements through outright misrepresentation. Speaking of which, the New York University economics professor has long been a critic of bitcoin and cryptocurrencies. and claims that most crypto proponents are conmen. He called Binance CEO Changpeng Zhao (CZ) a “walking time bomb.” In recent days, Gary Gensler, chairman of the Young Se Securities and Exchange Commission, has also warned that most cryptocurrency tokens would fail and investors would be urged not to FOMO in class. Meanwhile the chairman, John Reed Stark, a former enforcement officer, cautioned that the SEC regulatory onslaught is just beginning. Surely we can say that economists and professors are really negative about the recent changes and market of bitcoin crypto currency and what was already negative has become even more dire and now it is warning investors. Totally recommending to get out of this industry.
