Contents
- Roubini claims Barry Silbert’s DCG may be at risk
- Taking a stab at CZ once again
Nouriel Roubini says with bankruptcy risk to digital currency group Bitcoin could fall harder
Yuri Molchan
Prominent economists continue to bash crypto space, saying Barry Silbert’s DCG could go bankrupt, pushing prices lower
Nouriel Roubini has taken to Twitter to state that Bitcoin and other cryptos could fall lower than they have now, given a possible risk of bankruptcy for Digital Currency Group (DCG), and the fact that its subsidiary Grayscale allegedly cannot provide proof of assets behind. GBTC.
Also, after slamming CZ from Binance once again, “Dr. Doom” Roubini has extended his criticism to the “four G’s” – which includes shades of gray and the liquidity problems of Genesis Global Capital. Both are affiliated with DCG.
Roubini claims Barry Silbert’s DCG may be at risk
In a recent tweet, NYU economics professor Nouriel Roubini took aim at what he calls “Crypto’s Gansta G Gang of Four”. These are four prominent companies in the crypto space, two of them associated with crypto billionaire Barry Silbert’s Digital Currency Group – Grayscale and Genesis Global Capital.
“Dr. Doom” also claims that prices in the crypto market may fall lower considering the bankruptcy risk of crypto mammoth Digital Currency Group due to its exposure to Genesis Global Capital. The latter has frozen withdrawals recently. The partner Gemini Earn run on the Winklevoss exchange followed.
Many – 3AC, Alameda – tried that trade and went bankrupt. The discount could be larger given the bankruptcy risk for DCG (given the exposure to Genesis) and no evidence that GBTC has the assets it claims to have. Crypto is the mother of all scam card houses. And it’s imploding now!
— Nouriel Roubini (@Nouriel) 19 November 2022
Overall, he tweeted that the big four companies, including Mike Novogratz’s Galaxy Digital (which was invested in FTT) are in big trouble now.
Crypto’s Gansta G Gang of Four: Genesis, Grayscale, Galaxy, Gemini
Now everyone is in big trouble and/or collapsing.
From the moon, all the madmen are now crashing down to earth! pic.twitter.com/Ihff2WBsWM
— Nouriel Roubini (@Nouriel) 19 November 2022
Taking a stab at CZ once again
Over the past week, Nouriel Roubini, also known as “Dr. Doom” for his prediction of the 2008-2009 mortgage crisis, has taken aim at the head of the Binance exchange CZ and has “picked a fight” with him.
Roubini has lashed out at CZ for the second time now, using the same technique – he tweeted several “C’s” that have negative associations with the crypto space. Among these was CZ Binance, which came after “corrupt”, “criminal”, cult, etc.
Moreover, Roubini also “awarded” the crypto industry as a whole with one few colorful descriptions: “collapsing Ponzi scheme”, “collapsing House of Cards”, “Mother of All Bank Runs” and others.
In a recent interview, Roubini also compared CZ to North Korean dictator Kim Jong-un.
