Nouriel Roubini, a renowned economist known for his bearish views on cryptocurrencies and who famously stated that 99% of crypto is a scam, has taken an unexpected turn by co-founding a cryptocurrency project named “Atlas.”
This project is being marketed as a climate-related token designed to foster accessible and scalable returns in regions where they are most required. According to the project’s official website, Atlas is tied to a thoughtfully selected portfolio of tangible real-world assets, including climate-resilient Real Estate Investment Trusts (REITs), strategic commodities, inflation-hedged sovereign bonds, and gold. The goal appears to be to create a digital asset that is tied to the value of these tangible assets and can potentially address climate-related concerns.
This move by Roubini, often referred to as “Dr. Doom” for his pessimistic economic predictions, is an intriguing departure from his previous critiques of the cryptocurrency space. It will be interesting to see how this project unfolds and if it challenges some of his earlier views on the crypto industry.
Nouriel Roubini’s Brutal Attacks on Crypto
Nouriel Roubini has been a vocal critic of the cryptocurrency industry, expressing strong and often negative opinions about various aspects of the space. His past comments have included derogatory characterizations of the crypto ecosystem, such as calling it a “fraud” and using the “seven C’s of crypto” as a way to highlight his skepticism.
He has also consistently criticized blockchain technology, often emphasizing his doubts about its potential apart from cryptocurrencies. Roubini’s stance has positioned him as one of the most prominent bearish voices in the cryptocurrency and blockchain community.
With the launch of the “Atlas” cryptocurrency project, Roubini’s involvement in the space has taken an unexpected turn. It will be interesting to see how this project aligns with his previous critiques and whether it signals a shift in his views on crypto and blockchain technology.
CZ Calls Roubini “Shameless”
Changpeng Zhao, the CEO of Binance, publicly called out Nouriel Roubini for using the Binance logo on his crypto project’s website, Atlas, without the exchange’s authorization. CZ expressed his criticism on social media, stating, “Some people are shameless. After attacking Binance publicly on stage a year ago, now [he] issues a token and puts Binance logo on their website without permission.”
Arthur Hayes, co-founder of Bitmex, who has also been the target of Roubini’s critiques, took a playful jab at the economist’s crypto project. Atlas token is advertised as being powered by artificial intelligence (AI), machine learning (ML), climate technology, and blockchain. Hayes responded with humor, remarking, “Wow, my bestie Nouriel included all the buzzwords; it must mean he is going to make money.” Hayes’ comment reflects the skepticism and humor often associated with Roubini’s shift into the cryptocurrency space.