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Is New York University professor Nouriel Roubini the biggest bitcoin grinch of all time? It sure seems that way, based on an epic Twitter rant he launched just days before Christmas.
In a furious tweetstorm that started at 6:34 am, Roubini trashed crypto as “THE most manipulated financial market in ALL human history…It makes the Wolf of Wall Street look like a naive amateur.”
He noted that the global stock market recently tumbled, but insisted that the downturn paled in comparison to the bloodbath in the crypto market.
In another tweet, the economist derisively mocked employees at Ethereum giant ConsenSys, who recently lost their jobs due to the prolonged slump.
“ConsenSys firing only 60% of employees? It will soon be 99%,” Roubini scoffed.
Have NO sympathy for those fools who left real jobs in tech for fake quick riches!
Roubini linked to a Verge article revealing that ConsenSys — the blockchain startup with 1,200 employees — could lay off 50% to 60% of its staff to cut costs.
As CCN.com reported, the restructuring is part of a move to streamline ConsenSys’ unprofitable business model and shed underperforming projects, which got decimated due to the crypto bear market.
“We must retain, and in some cases regain, the lean and gritty startup mindset that made us who we are,” ConsenSys CEO Joseph Lubin wrote in a company letter preceding the layoffs.
Since February 2018, ConsenSys doubled its workforce while expanding into 29 countries.
Lubin — the co-founder of Ethereum, whose crypto net worth tops $1 billion — personally financed the expansion, but now admits that ConsenSys became unwieldy after its rapid growth.
Roubini gleefully pointed to ConsenSys’ troubles, reiterating that he has “no sympathy for those fools who left real jobs 4 fake quick riches of sh*tcoins.”
If they have any brain left after crypto brainwashing, they will find real jobs where returns are slow and based on real jobs/firms.
Roubini also delighted in the surprising revelation that Blythe Masters — a JPMorgan alum — will step down as CEO of Digital Asset Holdings.
The news sent shock waves across the industry, since Masters was the first and most high-profile Wall Street banker to join the blockchain industry back in 2015.
“What a joke!” Roubini huffed.
Nouriel Roubini isn’t the only vocal critic of crypto, but his relentless agitation and animated negativity toward the burgeoning ecosystem puts him in a class of his own.
Roubini’s crypto-trolling is so over-the-top that he was parodied by a bitcoiner invoking the hit animated series South Park.
In the parody, Roubini was hilariously mocked in a song that chanted, “Nouriel’s a troll! He’s the biggest troll in the whole wide world!”
Featured image from Shutterstock.
Last modified: May 20, 2020 1:20 PM UTC