Crypto skeptic, Nouriel Roubini, is not a fan of Facebook's crypto project

18 Jun, 2019
by Joeri Cant
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Crypto skeptic, Nouriel Roubini, is not a fan of Facebook's crypto project

Notorious crypto skeptic, Nouriel Roubini, recently stated that Facebook's cryptocurrency project, codenamed Libra, has nothing to do with blockchain, and is not really crypto.

Crypto skeptic, Nouriel Roubini, told Coindesk, that Facebook’s future cryptocurrency is not really a cryptocurrency.

The crypto hater, who called Bitcoin 'the mother and father of all bubbles' on a many of occasions, went on to say that Facebook's cryptocurrency project has nothing to do with blockchain.

'Fully private, controlled, centralized, verified and authorized by a small number of permissioned nodes. So what is crypto or blockchain about it? None', he said.

Roubini, is seemingly convinced that Facebook will make a fortune on its crypto project by earning big on its users balances, while paying 0% to its users balances.

'Rip-off! I rather keep my money in $ fiat & earn 2.5% on safe overnight rates!', he tweeted.

Calling Facebook 'a ridiculous chutzpah!', Roubini, points out that at a time when 'Big Tech is coming under sharp legislative scrutiny because of serious anti-trust concerns, where even the United States, want to crack down on these monopolies, Facebook wants to become the monopolistic Global Fed without even a bank license'.

It appears something has happened that nobody could have foreseen, a moment in time, where both Roubini and large parts of the Bitcoin community seem to agree on something.

Crypto hell just froze over!

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