government's attempts to exercise anti-trust policies to curb the power of big tech firms.
In the interview, Roubini said that Libra is " blockchain in name only," as the technology doesn't use a proof-of-work function to verify P2P transactions, it's permissioned and centralized, and it is not trustless, and that the Libra token "is either a security, and thus to be regulated by security regulators, or it is a bank that will need a bank license and needs to be regulated accordingly." Roubini said during the interview that he believes the creation of Libra is a power play by Facebook designed to counteract the U.S. In the interview, he discussed his feelings on Facebook's cryptocurrency project Libra, which was in development at the time.
In June 2019, Roubini was interviewed by the Financial Times' Alphaville. In December 2018, Roubini appeared in Coindesk's number one "Most Influential in Blockchain 2018." The list included ten other figures related to the crypto and blockchain space, including Changpeng Zhao, Elizabeth Stark, and Jed McCaleb. Senate Committee on Banking, Housing and Urban Affairs On Octo(the written text of the testimony provided by Nouriel does not use an asterisk). Roubini has even commented on the use of the word " sh*tcoin," saying that referring to fraudulent or useless cryptocurrencies in such a way constituted "a grave insult to manure that is a most useful, precious and productive good as a fertilizer in agriculture" during testimony before the U.S. He said the two "stole 75 percent of the Ether supply and became instant 'billionaires' of fake wealth." Buterin responded over Twitter by saying he "never personally held more than 0.9 percent of all ETH" in circulation, and that his net worth "never came close to $1 billion." He also said that there are "no criminal laws against pre-mining." A story published by Forbes in February 2018 estimated Buterin's net worth at $400-$500 million.
He said that everyone he knew that was actively involved in cryptocurrency trading was "financially illiterate," and "could not tell the difference between stocks and bonds." The same month, Roubini accused Vitalik Buterin and Ethereum co-founder Joseph Lubin of instigating "the criminal pre- mining sale/scam that created Ether" over Twitter. In October 2018, Roubini called cryptocurrency "the mother or father of all scams and bubbles" while testifying at a congressional hearing on Capitol Hill. Roubini has long been an outspoken critic of cryptocurrency and blockchain technology, as well as notable figures in the crypto and blockchain space.
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