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Nouriel Roubini attacks Tether and hopes for a crackdown
Nouriel Roubini attacks Tether and hopes for a crackdown
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Nouriel Roubini attacks Tether and hopes for a crackdown

By Marco Cavicchioli - 1 Dec 2020

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Nouriel Roubini heavily attacked Tether on Twitter, sharing a tweet from CTO Paolo Ardoino with a rather explicit comment: 

“The unbacked Tether printing machine keeps on cranking fake money and use it to prop up BTC and all sorts of Shitcoins. Luckily law enforcement authorities are investigating…so expect in due time a crackdown as the one on BitMex”. 

Roubini in fact is convinced that the value of bitcoin is manipulated, probably because he does not want to accept the fact that he was wrong all these years when he did nothing but attack it without even knowing it thoroughly

He has identified Tether as his scapegoat to blame for what he considers an increase in value that is incomprehensible to him.

Ardoino himself responded to Roubini’s accusations by publicly reporting Roubini’s tweet to Tether’s lawyer Stuart Hoegner, asking him to intervene. 

In fact, these might well be grounds for trying to take legal action against the economist, since the accusations made in this and other tweets have some defamatory remarks. 

In fact, it is worth remembering that there is no evidence of Tether’s manipulation of the crypto markets, so stating it publicly without evidence could be part of the case history of defamation. 

A dispute between Tether and Nouriel Roubini

However, Hoegner responded to Ardoino by simply inviting him to ignore what Roubini said, defining it as irrelevant. 

So it is hard to imagine that Tether is really suing Roubini, if only for the fact that within the crypto sector the economist has very little influence. That is to say, what Roubini says is in fact already commonly ignored by those who operate in the crypto markets, also because those who know these assets well, will have no difficulty in understanding that the economist’s knowledge in this sector seems really scarce. 

For example, he reiterated that he considers Bitcoin a Ponzi scheme, clearly showing that he does not recognize its basic functioning. 

It is possible that these tweets are intended to attract the consensus and attention of Bitcoin’s detractors, but since they are decreasing, it may not prove effective in the long run. On the contrary, it seems to work in the short term, since in the last few days his followers have increased by about 2,000 units.

Marco Cavicchioli
Marco Cavicchioli

Class 1975, Marco teaches web-technologies and is an online writer specializing in cryptocurrencies. He founded ilBitcoin.news, and his YouTube channel has more than 25 thousand subscribers.

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