Famous economist Nouriel Roubini, who gained the nickname “Dr. Doom” for his pessimistic predictions, has made a surprising move in the world of cryptocurrency. Despite previously stating that 99% of crypto is a scam, Roubini has now co-founded his own cryptocurrency project called “Atlas”. This unexpected development has raised eyebrows and sparked curiosity among crypto enthusiasts.
The Objective of Atlas
The primary aim of the Atlas project is to promote accessible and scalable returns in regions where they are most needed, with a specific focus on climate-related concerns. The official website of the project claims that Atlas is backed by a carefully chosen portfolio of real-world assets, including climate-resilient REITs, strategic commodities, inflation-hedged sovereign bonds, and gold. This diversified approach to asset backing adds credibility to the project’s goals.
Roubini’s Views on Crypto
Roubini has been known for his sharp criticism of the crypto industry in the past. In November 2022, during Abu Dhabi Finance Week, he boldly stated that the entire crypto ecosystem is a fraud. He didn’t hold back, saying:
“99% of crypto is a scam, criminal, bubble, and a massive Ponzi scheme.”
Even in January 2023, when the FTX collapse was unfolding, Roubini took the opportunity to reiterate his negative views on crypto. He remained unconvinced about the potential of blockchain technology outside the realm of cryptocurrency, describing it as the “most hyped technology ever”.
Response from the Crypto Community
Roubini’s involvement in the crypto space hasn’t gone unnoticed, with prominent figures expressing their opinions. Binance CEO Changpeng Zhao (CZ) called out Roubini for displaying the Binance logo on the Atlas project’s website without permission. CZ expressed his discontent on social media, stating:
“Some people are shameless. After attacking Binance publicly on stage a year ago, now issues a token and puts Binance logo on their website without permission.”
Arthur Hayes, co-founder of BitMEX and another target of Roubini’s criticism, took a more sarcastic stance. Responding to the news of Atlas and its claim to be enabled by AI, ML, Climate Technology, and Blockchain, Hayes humorously commented:
“Wow my bestie Nouriel included all the buzzwords. It must mean he is going to make money.”
