- Nouriel Roubini called Binance founder Changpeng Zhao a “walking time bomb” on Wednesday.
- The economist called cryptocurrencies “totally corrupt” at a CNBC event in Abu Dhabi.
- Roubini also accused Shark Tank investor Kevin O’Leary of “a paid hack of FTX.”
Nouriel Roubini has described Binance boss Changpong Zhao as a “walking time bomb” amid rants about corruption in the crypto industry.
The Economist, who has been dubbed ‘Doctor Doom’ for his grim predictions, is better known by his initials CZ, as the recent collapse of major exchange FTX shows cryptocurrencies need to be wary of the bad guys. He said he included Zhao in that group.
“Cryptocurrency has 7 C’s,” said Roubini CNBCMiddle East Wednesday. “Hidden, corrupt, crooks, criminals, crooks, carnival touts, and finally he’s CZ.”
“Unfortunately, this is a completely corrupt ecosystem,” added Roubini. “Unfortunately yes. I think the lesson of the last few weeks is that these people should get out of here.”
Speaking at Abu Dhabi Finance Week, Roubini questioned why Binance is allowed to operate in the United Arab Emirates.
exchange is banned from the UK Last year, by the Financial Conduct Authority, Allegations Iranian firms aided money laundering under investigation by US authorities.
“I can’t believe CZ and Binance have a license to operate in the UAE,” Roubini said. “Regulators should think carefully,” he added. “It’s a walking time bomb.”
Roubini also criticized “Shark Tank” investor and frequent CNBC guest Kevin O’Leary. Bankrupt Exchange Spokesperson and Early Investor.
“Kevin O’Leary is a paid hack for FTX,” he said. “I hope CNBC gets rid of him.”
Neither Binance nor Kevin O’Leary immediately responded to Insider’s request for comment.
Roubini is a longtime cryptographer who has repeatedly criticized the industry, including since then. FTX announces it is considering bailout deal with Binance After being hit by a solvency crisis last week,
Roubini tweeted on November 9th, “First FTX bailed out crumbling cryptocurrency Ponzi scam. Now FTX is crumbling and bailed out by Binance.”
“But who will bail out Binance when that crap house of cards collapses? Crypto is the mother of all Ponzi schemes!” he added.