Dr. Doom continues to attack Arthur Hayes; equates BitMEX to a ‘racket business’

Remember the concept of the ‘totem’ from Inception? If the totem continues to spin, the holder is still dreaming and if it drops, it is reality. Nouriel Roubini is the cryptocurrency world’s version of the totem. If he spews crypto-criticism, you can be sure this is reality.

Now, Dr. Doom is at it again. Days after his infamous debate with Arthur Hayes which saw its tapes sealed shut, the economist has now called out the BitMEX CEO and accused him or propping up a “racket business” with his exchange. Roubini even called for “regulators” and even “prosecutors” to take notice of BitMEX, in what could have larger implications than a mere clash between two opposing members of the financial world.

The economist tweeted,

Roubini, in a previous tweet, had shared a video from YouTuber ‘Beyond10x’ which intended to detail what was in the mind of Hayes when he created BitMEX. In a short CNBC clip prior to the crux of the video, Hayes referred to himself as a “volatility trader,” adding that if any unforeseen news does hit the crypto-market, “short it, I don’t care.”

The economist added that this was the “biz model” of BitMEX and that half of its revenues came from “liquidation funds.” He even called for the futures exchange to be sued in “unregulated jurisdictions.”

Since the debate on July 3 in Taipei, Roubini has been relentless on social media. Post the debate Roubini stated that he “nailed him [Hayes],” adding that the venue was justifiably a “criminal home court” for his opponent, and due to the defeat Hayes is “hiding the video tape he made.”

Roubini has also been ‘shit-talking’ the cryptocurrency community, calling its members “scammers” and no better than “drug dealers,” with each of them having their own agenda to pump up their own books with no interest in the larger sense of cryptocurrencies as a store of value.

In an interview with Bloomberg, Dr. Doom did what Dr. Doom does,

“There is [are] whole millions of what they call ‘degenerate gamblers,’ the ‘retail suckers,’…they are going to create something where they can leverage, not 10 times, not 50 times,  but 100 times, [which] is worse than those drug pushers who give you crack cocaine for free to get you addicted and then lead you to be broke. There are millions of people that have gone bankrupt because of his [Arthur Hayes] policies and his business. He is a drug dealer and a scammer”



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Graduate of Finance and Economics, interested in the intersection of the world of decentralized currency and global governance.

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