• Nouriel Roubini was known for his criticism of cryptocurrencies
• “Dr. Doom” is now launching the Atlas Climate Token
• The stablecoin aims to be a “complementary hedge to US dollar instruments.”
Star economist Nouriel Roubini has never hidden his opposition to cryptocurrencies. He has denigrated the world’s most popular cryptocurrency, Bitcoin, sometimes describing it as a “dirty currency” and sometimes as the “mother of all bubbles.” Last year, he criticized the entire cryptocurrency sector as “collapsing.” Ponzi scheme“—and on another occasion as “the largest criminal theft in human history.” For him, even blockchain technology was nothing more than “a copy of a spreadsheet.”
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Roubini founded fintech companies
But now crypto enthusiasts are rubbing their eyes in amazement because Nouriel Roubini appears to have radically changed his mind. The economics professor who was one of the first to predict the financial crisis and thus earned the nickname “Doctor Doom” is now the co-founder and chief economist of Atlas Capital. The cryptocurrency startup describes itself as “a FinTech company that develops technology-driven solutions to address macroeconomic, geopolitical and climate risks.”
Climate Atlas code launched
But this is not enough. As can be seen from the project’s website, which is “enabled by artificial intelligence, machine learning, climate technology and blockchain,” the Atlas Climate Token, a blockchain-based stablecoin, has been launched. Stablecoins are digital currencies whose value is usually tied to government fiat currencies. According to the website, the Atlas Climate Token is backed by a portfolio of liquid real assets: climate-resilient REITs, strategic commodities, inflation-protected government bonds, and gold. The goal is to provide “a stable, complementary hedge to US dollar instruments” as well as “a digital store of value and, over time, a means of payment for vulnerable communities.”
Mocking Changpeng Zhao
Given his previous statements, it is not surprising that Nouriel Roubini is now being ridiculed by the people he once trampled. One of them is Changpeng “CZ” Zhao, co-founder and CEO of cryptocurrency exchange Binance: “Some people are just rude,” CZ quipped on SMS service X. “After publicly attacking Binance a year ago, there [Roubini] It is now issuing a token and using the Binance logo on its website without permission.
Some people are rude.
-Czechoslovakia?? Binance (@cz_binance) November 7, 2023
Atlas Capital was clear on this matter. The logos of all third-party companies have now been removed from the site, including Binance.
Finanzen.ch editorial team
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