Nouriel Roubini’s statements to the Senate Banking Committee are a complete embarrassment

Nouriel Roubini’s statements to the Senate Banking Committee are a complete embarrassment

If you’ve been following the cryptocurrency discussions on social media then you’ve probably heard a lot about Nouriel Roubini lately.

First, the Vitalik + LauraShin thread that went viral after Mr. Roubini declined having her as a moderator.

Then tons of other controversy have dominated the crypto scene during the past few days.

But nothing came close to striking us as hard as what we read in Nouriel Roubini’s written testimony to the US Senate.

Roubini is a famous NYU scholar who used the term shitcoins to describe unsuccessful ICO’s in front of the US Senate while apologizing for the use of the word coins next to sh*t because the latter is actually useful as a fertilizer. We’re not making this up, that’s actually what he wrote on the first paragraph of page 3 of the above linked PDF document.

Profanity notwithstanding, the text continues renewing low points as he classifies cryptocurrencies, which are arguably the most fascinating technical advance since the Internet itself, as simply “garbage vaporware”. Mr. Roubini also called everyone who emitted crypto assets “scammers, swindlers, criminals, charlatans, insider whales and carnival barkers (all conflicted insiders) tapped into clueless retail investors’ FOMO (“fear of missing out”)”. That is a verbatim quote from his exposition before the Committee.

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