Dr. Nouriel Roubini, an economist most famously known for having predicted the 2008 financial crisis, was present on Thursday at a hearing of the Senate Banking, Housing & Urban Affairs Committee in the United States. During his testimony, he had scathing words to share about cryptocurrencies, going as far as to say that they are “full of scams, insecure, and useless technology.”
A number of CEOs in the blockchain space have released statements that were sent via email to Cryptovest, showing disappointment at Roubini’s words.
“Dr. Roubini’s presentation was disheartening to witness, and his statistics were majorly taken out of context. His comments on prices dropping 80% instill an unnecessary fear in individuals looking to enter the crypto fray, and raises alarms unjustly for those newly invested in the ecosystem. Those of us who have been attuned to the maturation of the industry understand that dips in the market are temporary… [His] testimony [on Thursday] was irresponsible and rooted entirely in his own distrust of emerging technology rather than fact,” said Marshall Hayner, CEO of Metal, a crypto-focused payment processor.
He added that Roubini’s laser-like focu...
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