BitMEX’s Arthur Hayes and Nouriel Roubini Exchange War of Words as Dr. Doom Calls Everything Fake

  • Roubini is once again resorting to using debunked claims such as ‘crypto uses too much electricity and is thus bad for the environment’ to slander the altcoin industry.
  • According to a recent research article, the traditional finance market uses three times more power than Bitcoin.

As part of his usual crypto bashing antics, long-time Bitcoin adversary ‘Nouriel Roubini’ has once again come out of the woodworks and taken a dig at various crypto trading platforms.

To be a bit more specific, this time around, Roubini has alleged that BitMEXs recent announcement that its bitcoin derivatives volume had reached $1 billion was fake. In regards to the issue, he was quoted as saying:

“How can one believe ANY of these figures when 95 percent of all bitcoin transactions on a typical exchange are fake? Fake-coins, shit-coins, fake-transactions, fake-pricing. The only true thing in crypto space is manipulation, pump n dump, front-running, wash trading, etc…”

As was to be expected, just hours after the NYU professor launched his unwarranted attack on BitMEX, company CEO Arthur Hayes came out all guns blazing and challenged Roubini to back up his ‘fictitious claims’ with actual data-backed evidence.

“Maybe you should speak with my private bankers they will inform you BitMEX don’t fake shit. Can’t wait to see you in Taipei”

More on the Matter

As many of our regular readers may be well aware of, Roubini and Hayes are scheduled to participate in a debate — that is being hosted by the Asia Blockchain Summit —  on the 3rd of July 2019.

The event has been dubbed as being the most anticipated crypto debate in the history of this relatively young market — with both parties taking several digs at each other over the past couple of weeks.

For example, via a recent tweet (that has since been deleted), Hayes claimed that he would ‘wipe the floor’ with Roubini since his talking points about BTC were shaky and unfounded.

Also, at this point in the article, it should be highlighted that since pronouncing the crypto market dead last November, Roubini has been very quiet on Twitter.

However, since the start of this month, Nouriel he has once again taken to the social media platform to say that crypto helps facilitate tax evasion, money laundering, and other nefarious activities (talking points that have pretty much been debunked at this point).

Important Points Worth Highlighting

As per a report released during Q4 2018, a number of high-profile EU banks were found guilty of tax fraud (amounting to €55.2 billion).

JPMorgan was recently hit with a fine of $5.3 billion by the U.S. Treasury fine for facilitating illegal money laundering activities across the globe.

Wells Fargo recently cost its investors a whopping $2.7 Billion (in fines and penalties) due to its participatory role in a massive account fraud scandal that was unearthed last year.

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