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Anti-Crypto Economist Nouriel Roubini drags Ripple for “false statements” in its 2019 XRP markets report

It is no news that Nouriel Roubini amongst others is one of cryptocurrency’s most public haters. The Stern NYU Professor has once again expressed his distrust towards crypto in a recent tweet where he termed the Ripple XRP team members “con men” whilst responding to its 2019 markets report for the second quarter of the year 2019. In alignment with another tweet from the twitter handle “TrollyMcTrollface”, Roubini responded to the market commentary section of Ripple’s market report which stated; “The SEC announced that it would establish nodes on certain open-source, permissionless ledgers, such as the XRP Ledger, to help inform its policymaking.” Agreeing with the user who said “Ripple continues to lie in broad daylight”, Roubini once again referred to cryptocurrency and blockchain as a technology run by ingenuity.  “Indeed lying in broad daylight is standard operating procedure for all things crypto and blockchain. In no new technology in human history you have seen so many crooks, scammers, liars, cheaters, criminals, snake oil salesmen, carnival barkers, self serving whales, con men!” – Nouriel RoubinI. While the crypto-community has in its usual manner responded in defense, the renowned Economist is yet to honor these comments with any reply. Meanwhile, Ripple’s market report reflects tremendous growth between the beginning of the year and present. With a total of $251.51 million XRP tokens sold in the second quarter of 2019, the reduction of sales in the future has substantially improved. Adaptation rate for Ripple and its native token has also skyrocketed. According to the reports, the token has been listed on 130 exchanges while institutional interests have simultaneously increased.  Released on the 24th of July on its Ripple Insight website, Ripple’s market report further addressed the issue of transparency as regards to previous concerns on the network  “overstating market trading volumes” amongst other issues.  The post Anti-Crypto Economist Nouriel Roubini drags Ripple for “false statements” in its 2019 XRP markets report appeared first on ZyCrypto.

Nouriel Roubini Accuses Bit MEX of “Systematic Illegality”

Nouriel Roubini, otherwise known as Dr. Doom for his pessimistic attitude towards bitcoin and crypto, is a professor of economics at the New York University Stern School of Business. At press time, Roubini is fighting with cryptocurrency exchange Bit MEX, which is registered in Seychelles, and says that it, along with several other exchanges, are registered in “systematic illegality.”  Roubini Takes on Crypto Yet Again Crypto prices are generally volatile. In fact, just two days ago, bitcoin fell below $10,000 and hit the $9,600 mark following a series of negative tweets from President Donald Trump and an ongoing Senate hearing in which former PayPal head and current Libra developer David Marcus was questioned by members of Congress regarding the cryptocurrency’s goals and properties. Simon Peters, an analyst at crypto exchange e-Toro, commented on the sudden drops in bitcoin and other cryptocurrencies’ prices, stating: Crypt bears are poised to pounce after several high-profile U.S. government officials took aim at bitcoin and Facebook’s Libra this week. The bitcoin pullback, which started over the weekend, is in full force now. Selling pressure has intensified, with prices having now broken below the psychological $10,000 mark. Other cryptos are also falling fast, succumbing to regulatory uncertainty. At press time, however, bitcoin is back up to just over $10,350, though this is still less than where it stood 24 hours ago ($10,600). Roubini has always been of the mind that because they are volatile, cryptocurrencies are scams that are likely to bring about the death of America’s financial system. Earlier this month, Roubini engaged in a war of words with Bit MEX founder Arthur Hayes and even referred to bitcoin as both “a cesspool” and “overhyped.” However, his criticism for Bit MEX was directed at the idea that it was somehow responsible for laundering terrorist funds that came from regions like Russia and Islamic states. In a blog post, he wrote:  Bit MEX insiders revealed to me that this exchange is used daily for money laundering on a massive scale by terrorists and other criminals from Russia, Iran and elsewhere. The exchange does nothing to stop this, as it profits from these transactions… Some of the biggest crypto players may be openly involved in systematic illegality. Bit MEX [is] an unregulated trillion-dollar exchange of crypto derivatives that is domiciled in the Seychelles but active globally… It involves peddling to ‘degenerate gamblers’ (meaning clueless retail investors), crypto derivatives with 100-to-one leverage.  Hey, We’re Not So Bad! Hayes later came to the defense of Bit MEX, exclaiming:  Bit MEX provides safe, fast, professional and liquid ways for those who see the potential of crypto and to trade and hedge cryptocurrency risk. We continue to monitor all legal and regulatory developments around the world and will comply with all applicable laws and regulations. The post Nouriel Roubini Accuses Bit MEX of “Systematic Illegality” appeared first on Live Bitcoin News.
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Arthur Hayes’ BitMEX Under Investigation By CFTC For Illegal Crypto Trading; Was Nouriel Roubini Right?

Per the latest reports, crypto derivatives exchange BitMEX is now under the scrutiny of the regulators. The US Commodity Futures Trading Commission (CFTC) is investigating cryptocurrency exchange BitMEX, reported Bloomberg. Citing people familiar with the matter, Bloomberg stated that the CFTC is looking into whether the Seychelles-based exchanges broke the rules by allowing American customers […]
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Nouriel Roubini accuses BitMEX CEO Arthur Hayes of ‘systematic illegal activities’ in latest op-ed

Following a heated debate at the Asia Blockchain Summit, Dr. Nouriel Roubini ramped up his campaign against BitMEX and its CEO, Arthur Hayes. In a recent op-ed piece, Roubini accused Hayes of being involved in “systematic illegal activity” at BitMEX, saying the exchange’s 100-to-one leverage and liquidation profits should be banned. Dr. Doom takes another jab at BitMEX After a heated debate at the Asia Blockchain Summit in Taipei, the crypto industry’s most vocal critic took another jab at Arthur Hayes. Nouriel Roubini, a professor of economics at the Stern School of Business, published an op-ed piece on Project Syndicate earlier this week, where he accused BitMEX of being involved in shady and illegal activities. The article, titled “The Great Crypto Heist,” starts as a criticism of the current state of the crypto industry, but quickly turns into a hit-piece targeted at Hayes and his exchange. Roubini said that “some of the biggest crypto players may be openly involved in systematic illegality.” That, he noted, includes BitMEX. Roubini criticized BitMEX for allowing its traders to take on too much risk. He said that with the exchange’s 100-to-one leverage, even a 1 percent change in the price of the underlying asset could trigger a margin call that would wipe out all investments. Roubini also accused BitMEX for profiting from its liquidation fund. Citing a 2018 Medium post from an anonymous blogger as a source, he said that, at times, liquidations account for up to half of BitMEX’s revenue. Skirting AML and KYC regulations, front-running clients on their internal for-profit trading desk, and providing a platform for terrorists from Russia and Iran to launder money are some of the other accusations mentioned in the article. BitMEX stands its ground despite community criticism Hayes was quick to respond to these accusations, telling Bloomberg News that BitMEX rejects any allegations of criminality, manipulation or unfair treatment of their customers. “BitMEX provides safe, fast, professional and liquid ways for those who see the potential of crypto and to trade and hedge cryptocurrency risk,” he said via a spokeswoman. “We continue to monitor all legal and regulatory developments around the world and will comply with all applicable laws and regulations.” Last year, Hayes also told Yahoo Finance that the exchange doesn’t make money when its customers are liquidated and never trades against them. BitMEX’s perpetual BTC/USD contract is also not the only product with 100-to-one leverage – even Bitfinex is preparing to launch its own 100x margin derivatives product. Related: Nouriel Roubini lost his cool during debate with BitMEX CEO Arthur Hayes However, BitMEX’s seemingly rock-solid position has been shaken by serious criticism from the crypto community. The exchange secretly managed to secure exclusive rights to the video of the Roubini vs Hayes debate and has refused to release it in full for more than a week. With both Roubini and Hayes claiming to have won and only a few short videos shared, it was impossible to tell how the debate actually went. Roubini spent several days demanding that the full video of the debate be released. Surprisingly, he gained a huge following among the crypto community, who criticized Hayes for refusing to release the video despite claiming to have won the debate. The post Nouriel Roubini accuses BitMEX CEO Arthur Hayes of ‘systematic illegal activities’ in latest op-ed appeared first on CryptoSlate.
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Celsius Network Offers up To 12% APR on USDC, TUSD, USDT and Other Stablecoins

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