It’s no longer just anonymous internet trolls calling out Tether on twitter. One of the most influential economists in the world today, Nouriel Roubini, has just entered the debate, coming down hard against the controversial company.
Dr. Doom vs Tether
Renowned economics professor Nouriel Roubini (commonly known as Dr. Doom) has called out Tether today for being a scam meant to artificially prop up the price of bitcoin. He thinks that without this “criminal manipulation” the price of bitcoin would crash by 80% and that American financial markets regulators are failing to stop this fraud.
Roubini tweeted that: “Regulators asleep at the wheel while $2 billion of fake $ created via this scam, half of it since December. Not even North Korea created so many fake $ backed by nothing.” And in a separate tweet he added: “Regulators are just ‘looking’ and doing little so far while swindlers, charlatans, scammers, criminals, carnival barkers are in full action in the crypto-universe.”
Tether Printing Press in High Gear, Issuing $400 of Fake USD in 4 Days to Manipulate and Prop Up the Price of Bitcoin. Without this criminal manipulation Bitcoin would crash by 80% based on a recent econometric study. And regulators are asleep at the wheel https://t.co/k2TkbLhBQI
— Nouriel Roubini (@Nouriel) January 25, 2018
All That Glitters Is Doomed
Roubini had Read More Here