Famous economics professor Nouriel Roubini said that Binance CEO Changpeng Zhao is a more questionable name than FTX’s former CEO Sam Bankman-Fried.
The Nobel Prize-winning economist continues his criticism of the cryptocurrency industry.
Nouriel Roubini Targets CZ
Nouriel Roubini, who gained a great reputation by predicting the economic crisis to be experienced in 2008, expressed that CZ is much more dubious than SBF.
A few months ago, SBF was seen as a savior as it rescued struggling cryptocurrency projects. SBF was compared to John Pierpont Morgan, the legendary American financier who managed to bail out a number of institutions during the banking crisis of 1907.
That sounds exactly like SBF when he played LOLR for crappy crypto scams. CZ even shadier than SBF!
CZ Binance reveals to collaborate with major Crypto players to form “Recovery Fund” to help some losses. The announcement is vague and have to wait for more details – Bloomberg
— Nouriel Roubini (@Nouriel) November 14, 2022
In November, the situation went to unexpected points. First faced with a liquidity crisis, FTX soon filed for Chapter 11 bankruptcy.
After the collapse of FTX, CZ announced that it has created a recovery fund to assist projects in a liquidity crisis. Binance CEO recently said that the crypto industry may experience a situation similar to the financial crisis of 2008.
CZ said several platforms have already reached him. Roubini, on the other hand, claims that CZ took the role of SBF.
Saying that the industry is in a rather uncertain situation, Roubini described the cryptocurrency industry as a “corrupt garbage ecosystem”.
