Bitcoin & # 39; Dr Doom & # 39; Nouriel Roubini makes a massive BitMEX warning & # 39;



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Bitcoin and crypto-currencies have plunged into the financial sector and traditional economists, with some arguing that bitcoin and crypto are incompatible with the current system and others more open to new technology.

The price of bitcoin, well known for its extreme volatility, did not help, as Bitcoin detractors pointed to the sudden fluctuations in cryptography markets as evidence of manipulation and price fraud.

Nouriel Roubini, a professor of economics at the Stern School of Business at New York University, recently stepped up his bitmoin and crypto-exchange quarrel at New York University, BitMEX, suggesting his involvement. in "systematic illegality."

Nouriel Roubini is known as Dr. Doom for his lousy economic forecasts. He strongly criticizes bitcoin and crypto-currencies. & Nbsp;

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"BitMEX insiders have revealed that this exchange is also used daily for large – scale money laundering by terrorists and other criminals from Russia, Iran and the United States. ;elsewhere." Roubini wrote in a blog post. & Nbsp;"The exchange does not do anything to stop this because it benefits from these transactions."

Roubini, who has clashed with Arthur Hayes, managing director of BitMEX, at the Blockchain Summit in Asia earlier this month, had previously called Bitcoin "overhyped" and a "cesspool." & Nbsp;

"Some of the biggest cryptography players can be openly involved in systematic illegality," & nbsp;Roubini & nbsp; wrote, adding "BitMEX, an unregulated exchange of multi-billion dollar crypto derivatives, domiciled in Seychelles but active on a global scale … involves peddling "degenerate gamblers" (that is to say private retail investors), crypto derivatives with a leverage of 100 for one. "

"Margin trading", where traders can borrow against their stock market deposits, is on the rise this year and could have an effect on the bitcoin price, as investors have more money to speculate.

Earlier this month, Binance, the world's largest exchange of bitcoins and crypto-currencies in the world, allowed operators to borrow up to three times their deposit, while Bitfinex, based in Hong Kong, allows loans 100 times higher.

Binance's managing director, Changpeng Zhao, often known simply as CZ, warned that this margin trading could be a bit late on the last bitcoin and cryptocurrency rally.

The price of bitcoin has skyrocketed this year due to interest in bitcoin encryption from some of the world's largest technology companies.

CoinDesk

Hayes retaliated during Roubini's latest attack, dismissing "any allegation of criminality, manipulation or unfair treatment of our clients, who are at the center of everything we do."

"BitMEX provides secure, fast, professional, and liquid means for those who see the potential of cryptography and negotiate and hedge the risk of cryptocurrency," Hayes told Bloomberg, a financial news agency. "We continue to monitor all legal and regulatory developments in the world and we will comply with all applicable laws and regulations. "

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Bitcoin and crypto-currencies have plunged into the financial sector and traditional economists, with some arguing that bitcoin and crypto are incompatible with the current system and others more open to new technology.

The price of bitcoin, well known for its extreme volatility, did not help, as Bitcoin detractors pointed to the sudden fluctuations in cryptography markets as evidence of manipulation and price fraud.

Nouriel Roubini, a professor of economics at New York University's Stern School of Business, recently stepped up his feud with bitcoin and bitmex crypto exchange registered in the Seychelles, suggesting he was involved in the "systematic ". illegality."

Nouriel Roubini is known as Dr. Doom for his gloomy economic forecasts and has been a virulent critic of bitcoins and crypto-currencies.

Getty

"BitMEX insiders have revealed that this exchange is also used daily for large – scale money laundering by terrorists and other criminals from Russia, Iran and Japan. 39; elsewhere, " Roubini wrote in a blog post. "The exchange does not do anything to stop this because it benefits from these transactions."

Roubini, who clashed with Arthur Hayes, president of BitMEX, at the Blockchain Summit in Asia earlier this month, had already called Bitcoin "over-hypo" and "cloaca".

"Some of the biggest players in cryptography can be openly involved in systematic illegality," Roubini wrote adding "BitMEX, an unregulated exchange of multi-billion dollar cryptographic derivatives domiciled in Seychelles but active on a global scale (…) involves peddling "degenerate gamblers" (ie private investors) retail) as cryptographic derivatives with a leverage of 100 for one. "

The so-called margin trading, where traders can borrow against their stock market deposits, is on the rise this year and could have an effect on the price in bitcoins, as investors with a greater volume of funds to speculate.

Earlier this month, Binance, the world's largest exchange of bitcoins and cryptocurrencies in the world, allowed traders to borrow up to three times their deposit, while Bitfinex, of Hong Kong, allowed loans 100 times more important.

Binance's managing director, Changpeng Zhao, often known simply as CZ, warned that this margin trading could be a bit late on the last bitcoin and cryptocurrency rally.

The price of bitcoin has skyrocketed this year due to interest in bitcoin encryption from some of the world's largest technology companies.

CoinDesk

Hayes reacted to Roubini's latest attack, dismissing "any allegation of criminality, manipulation or unfair treatment of our customers, which are central to everything we do."

"BitMEX provides safe, fast, professional and liquid means for those who see the potential of crypto-badysis, as well as trade and cryptocurrency risk coverage," Hayes told Bloomberg, a financial news agency. . "We continue to monitor all legal and regulatory developments worldwide and will abide by all applicable laws and regulations."

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