Well known Economist turned crypto critic, Nouriel Roubini has stepped up his game on back lashing popular cryptocurrency exchange, BitMEX and its CEO, Arthur Heyes by instigating that BitMEX was a den of criminals involved in subtle illegalities and indeed called Arthur Hayes “a thug” in the process.
Nouriel Roubini took to his twitter handle to announce a platform where he claimed to have exposed the ugly truths about Arthur Hayes and his company to the public. He maintained that BitMEX was being used by Arthur to constitute illicit evasion of Anti-Money Laundering (AML)/ Know Your Customer (KYC) policies, front running, insider trading, massive scale money laundering and gouging of clients.
Exposing BitMEX’s Ugly Truth
As he seized the opportunity to unveil his new work of literature tagged “The Great Crypto Heist| by Nouriel Roubini”, he urged his followers and the crypto community at large to consider following his account of the targeted victims.
According to Roubini,
My new column where I expose the shady rekting racket that is @BitMEXdotcom run by the thug @CryptoHayes: evasion of AML/KYC, front-running, insider trading, massive scale money laundering, gouging of clients, etc.
The Great Crypto Heist by Nouriel Roubini https://t.co/79UsmlZxdr
BitMEX And Bitcoin
Following the debate at Taipei, where Arthur took on Roubini to debate a series of topics including bitcoin and Bitmex, Arthur had said that the community loved speculating and BitMEX was a platform to help them do so more efficiently. As Roubini believed BitMEX to be a predator which feeds on customers irresponsibility in trading leverage, he argued that BitMEX’s x100 leverage option was doing more harm than good to its customers. In fact, according to Roubini, a considerable percentage of BitMEX’s income depends on liquidations derived from leverage trading.
The Common Enemy
Bitcoin and Arthur Hayes seem to have a common enemy- Roubini. The popular crypto critic never misses an opportunity to air his opinion (mostly the negativities) on bitcoin at any given time. While he tried to kill two birds with one stone, he also took a jab at bitcoin and insinuated that it wasn’t a typical currency.
Going by the last 24 hours record in which bitcoin had crashed by 14% to record a price $9480, he took great pleasure in calling Bitcoin and other altcoins (which he referred to as ” shitcoins”) a joke!
According to Arthur’s tweet,
Bitcoin down 14% in last day to below 9.5K! Ouch! It must hurt to get so rekt so fast! Calling bitcoin a currency – let alone 1000s of other shitcoins – is a joke: they are not a unit of account, they are not a means of payments (5tps) and no stable store of value (-14% in a day)
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Staff writer at Coingape. Certified cryptocurrency expert and Blockchain journalist covering crypto market analysis and general Blockchain adoption and development.
You can follow me on Twitter at @ShonubiDare or reach out to me at dare[at]coingape.com