Of all people, crypto critic Roubini is launching his own token – ridicule from the crypto community

• Nouriel Roubini was known for his crypto criticism
• “Dr. Doom” is now launching the Atlas Climate Token
• Stablecoin aims to be a “complementary hedge to US dollar instruments”.

Star economist Nouriel Roubini has never made a secret of his opposition to crypto. He denigrated the world’s most popular cryptocurrency, Bitcoin, sometimes as a “shitcoin” and sometimes as the “mother of all bubbles”. Last year he criticized the entire crypto sector as “collapsing Ponzi scheme” – and on another occasion as “the largest criminal heist in the history of mankind.” Even blockchain technology was for him nothing more than a “copy of a spreadsheet.”

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Roubini founds FinTech companies

But now crypto fans are rubbing their eyes in amazement because Nouriel Roubini seems to have radically changed his mind. The economics professor who was one of the first to predict the financial crisis and thus earned the nickname “Dr. Doom” is now co-founder and chief economist of Atlas Capital. The crypto startup describes itself as a “FinTech company that develops technology-driven solutions to address macroeconomic, geopolitical and climate risks.”

Atlas Climate Token launched

But that’s not enough. As can be seen from the project’s website, which is “enabled by AI, ML, climate technology and blockchain”, the Atlas Climate Token, a blockchain-based stablecoin, has been launched. Stablecoins are digital currencies whose value is usually linked to government fiat currencies. According to the website, the Atlas Climate Token is backed by a portfolio of liquid real assets: climate-resilient REITs, strategic commodities, inflation-protected government bonds and gold. The aim is to offer a “stable complementary hedge to US dollar instruments” as well as a “digital store of value and, over time, a means of payment for vulnerable communities”.

Mockery of Changpeng Zhao

Given his previous statements, it is no surprise that Nouriel Roubini is now receiving ridicule from people he previously stepped on. One of them is Changpeng “CZ” Zhao, co-founder and CEO of the crypto exchange Binance: “Some people are just shameless,” CZ mocked on the short message service X. “After publicly attacking Binance a year ago, there [Roubini] is now releasing a token and using the Binance logo on its website WITHOUT permission.

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. ????????? pic.twitter.com/WENaTO4tE4

– CZ ?? Binance (@cz_binance) November 7, 2023

Atlas Capital was clear about this. The logos of all external companies have now been removed from the site, including Binance.

Editorial team finanzen.net