Nouriel Roubini on Crypto Market: 'Bloodbath Has Only Started'

His most recent warning comes after BlackRock CEO Larry Fink predicted that most cryptocurrencies would fail during a Wednesday appearance at the New York Times DealBook Summit.

"Dr. Doom," who predicted the global financial crisis, described Fink's words as an"understatement," offering a much gloomier view.posted on Nov. 30, Roubini argued that 97% of initial coin offerings were scams that went bust, adding that corrupt spending is"standard" among all cryptocurrency projects that are run by"gangsters." Prior to that, Roubini also called crypto"the biggest criminal heist in human history.

Roubini has been one of the main crypto naysayers for years. In 2020, he called the entire crypto industry"a scam." Feeling vindicated after the recent FTX-induced crash, Roubini has ramped up his anti-crypto rhetoric in recent weeks.Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.

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