Renowned economist Nouriel Roubini, nicknamed “Dr. Doom” for his persistent criticism of cryptocurrencies, recently stunned the crypto industry by unveiling his brand-new crypto project dubbed “Atlas”. Let’s dive into the details with Coinpri.
The notorious Dr. Doom launches his crypto focused on climate change, ironically?
Nouriel Roubini also known by the nickname Dr. Doom because of his gloomy predictions, has never minced his words when it comes to criticizing the crypto universe. His shattering statements have sent shockwaves through financial circles.
In November 2022, at an event in Abu Dhabi, he called the entire crypto ecosystem a fraud even going so far as to create an ironic acronym, the “seven Cs of crypto”, grouping together all possible insults to denigrate this sector.
Declaration of Nouriel Roubini also known as Dr. Doom
In January 2023, taking advantage of the collapse of FTX, Nouriel reiterated his criticism, stating that 99% of cryptocurrencies were a “scam, a crime, a bubble and a vast Ponzi scheme”.
In addition, the Dr. Doom did not hesitate to downplay the impact of blockchain technologies calling them an “overrated trend”. This notorious anti-crypto reputation makes his turn to creating his own cryptocurrency all the more surprising!
Crypto community skeptical of Nouriel Roubini’s Project Atlas
Atlas presents itself as a climate-focused crypto token with a specific mission: to offer accessible and sustainable returns, particularly in regions that need them most. It is supposed to be based on various investments such as inflation-hedged sovereign bonds, strategic commodities, so-called climate-resilient real estate or even gold.
Of course, this was to be expected, the “Atlas” project was not welcomed by the crypto community. This skepticism may seem quite legitimate, given the history of Nouriel Roubini as an outspoken critic of crypto. He thus seems to be saying one thing and doing its opposite.
All the more so when he uses several buzz words of the moment to attract investment such as artificial intelligence (AI), machine learning (ML), blockchain…
Thus, Arthur Hayes, co-founder of Bitmex and a previous target of Roubini reacted with irony, pointing out the use of buzzwords in the description of the “Atlas” project.
Wow, my best friend Nouriel included all the buzzwords, that must mean he’s going to make money.Statement by Arthur Hayes
Similarly, the CEO of Binance, Changpeng Zhao (CZ) strongly criticized Roubini on X for using the Binance on his “Atlas” project website without authorization, highlighting his lack of scrupulousness.
“Some people are shameless. After publicly attacking Binance on stage a year ago, he now issues a token and puts the logo Binance on its website without authorization,” said CZ.
It is important to note that Nouriel Roubini is not the first to make this shift. Many financial institutions and large corporations, such as JP Morgan and BlackRock, initially expressed skepticism before finally diving in and offering cryptocurrency-related services.
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As a journalist at Coinpri, I’ve been captivated by the world of bitcoin and blockchain since 2020. The decentralized aspect of Bitcoin particularly piqued my interest. Since then, I’ve been working constantly to spread my knowledge, hoping one day to see a world where everyone fully enjoys their financial freedom.