Well-known economist and crypto skeptic Nouriel Roubini has recently spoken out about Binance. According to Roubini, the CEO of the crypto exchange, Changpeng Zhao (CZ), is said to be extremely corrupt. He therefore argues that CZ is actually a ticking time bomb and that it is outrageous that Binance is still getting licenses in many places.
Binance CEO gets it
Roubini put this on stage during Abu Dhabi Finance Week. Got it not long ago Binance a permit to operate within the United Arab Emirates (UAE), but according to Roubini this cannot actually be explained.
😳 @Nouriel attacking @cz_binance onstage pic.twitter.com/gkZLPrwcX9
— Yagiz Sozmen (@yagizsozmen) November 16, 2022
“Unfortunately, this ecosystem is totally corrupt, and the lesson of the past few weeks is that these people need to get out of here. I cannot believe that CZ Binance is licensed to operate in the UAE.”
Binance has already been banned from the UK and CZ is also said to be under investigation by the US Department of Justice for possible money laundering of billions of dollars. All these things together make it amazing to Roubini that the Binance CEO is simply welcome in many places.
‘CZ should be banned from the UAE’
Roubini even states that it is actually only a matter of time before CZ and Binance will implode. He even indicates that this may be a lot more intense than the demise of ftx and Sam Bankman Fried. Therefore, the UAE should show CZ the door.
“The supervisor must think carefully. He’s a walking time bomb. He should be kicked out of the country and banned from operating. I’m sorry to say, he gets worse than Sam Bankman-Fried.”
Later, Roubini took his words somewhat back on Twitter. He indicated that he was not attacking CZ at all, but that he only believed that the UAE should not license Binance.
Meanwhile, Roubini has long been known for his extremely negative views on the cryptoindustry, denouncing digital assets as a Ponzi scheme and criticizing the views of the industry’s proponents.