Roundup: Crypto skeptic Roubini targets Binance boss Changpeng Zhao: “Ticking time bomb” | news

Roundup: Crypto skeptic Roubini targets Binance boss Changpeng Zhao: “Ticking time bomb” |  news

• Nouriel Roubini calls Binance boss “ticking time bomb”
• Demand for expulsion from the United Arab Emirates
• Binance should not be licensed to conduct business

The FTX bankruptcy has shaken the crypto community for good. The events of the past few days and weeks have caused turbulence on the crypto market, the bankruptcy of the once highly acclaimed crypto company founded by Sam Bankman-Fried caused Bitcoin & Co to fluctuate massively. The well-known crypto skeptic Nouriel Roubini has recently sharply criticized the events surrounding FTX. He spoke of a “crypto house of cards” and called for strict regulation for the digital foreign exchange market.

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Binance boss moves into focus of Roubini

A few days later, at the Abu Dhabi Finance Week in Abu Dhabi, Roubini also commented on the FTX competitor Binance, whose announced FTX token sale is one of the reasons for the FTX bankruptcy. With this announcement, Binance ensured that investors withdrew funds from FTX on a large scale. Just one day later, Binance rejected a takeover of FTX that had been promised in the meantime, thus sealing the insolvency of the competitor.

Roubini had already come across this business practice before, during the event, the economics professor at New York University’s Stern School of Business railed against Binance boss Changpeng Zhao. The expert said in a speech that he could not understand that Binance was even allowed to do business in the United Arab Emirates (UAE). For him, the Binance CEO is “even worse” than Sam Bankman-Fried. He called him a “ticking time bomb”

However, Roubini does not want his statements to be understood as an attack on Changpeng Zhao, as he later explained in more detail on Twitter: He did not attack him, he only told the authorities that Biance should not have a license in the United Arab Emirates if the company is prohibited in the UK and is being investigated by the US Department of Justice. “Who gave him a visa to stay there?” Roubini said.

Crypto market “completely corrupt”

According to Roubini, the crypto market itself consists of the seven Cs: “1. Concealed, 2. Corrupt, 3. Crooks, 4. Criminals, 5. Con men, 6. Carnival barkers, 7. @cz_binance.” Roughly translated: concealment, corruption, crooks, criminals, scammers, barkers and Changpeng Zhao.

In this context, crypto bull Mike Novogratz also got a swipe: “When I was live on stage at the ADGM Crypto Day today, I demanded that @cz_binance be kicked out of the United Arab Emirates. This shady character auditioned directly me along with the madman @novogratz and both of them talking their shit about collapsing shitcoins. rats and roaches,” Roubini continued on Twitter.

And crypto billionaire Kevin O’Leary was caught in the Roubini sweep. He was a “paid hacker for FTX,” the economics professor referred to his position as FTX spokesman.

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Image credits: Vivien Killilea/Getty Images for Berggruen Inst., Iryna Budanova / Shutterstock.com

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