“The Weak Foundation Crypto Industry Is Collapsing”

Nouriel Roubinicritic of the crypto industry and professor of economics at the Stern School of Business at New York University, at the same time as the banking crisis in the United States against Bitcoin and other cryptocurrencies have taken a stand. He says that the crypto ecosystem is host to many profiteers and the end days of this type of asset are near.

Roubini does not consider cryptocurrencies to be a suitable asset for storing wealth and says that investing in this area is “very risky”. Professor of Economics at New York University He cited the collapse of the FTX exchange as one of the prime examples of the unreliability of the crypto industry. FTX was one of the largest cryptocurrency exchanges launched by Sam Bankmanfriednicknamed Sultan Ramzarz, was managed.

Nouriel Roubini says cryptocurrencies help fraudsters, criminals and tax evaders. According to Roubini, “the entire loosely based crypto industry is collapsing.” “If you want to keep your wealth safe, the last place you should invest is crypto,” the NYU economics professor continued.

Roubini says the extreme volatility of crypto makes the industry not a safe haven for people’s assets. According to him, “doing undesirable things” was the selling agent of Silvergate and Signature banks in America. The two banks, which were shut down last week, had close ties to companies in the crypto industry.

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