Economist Nouriel Roubini popularly known as Dr Doom, long known for his critical stance towards cryptocurrencies, has made a sudden pivot by unveiling his own cryptocurrency. This surprising turn of events has stirred controversy, with Binance co-founder and CEO Changpeng Zhao expressing his disapproval.
What Happened: Roubini, who once labeled Bitcoin as a “shitcoin,” belittled Ethereum, and dismissed blockchain technology as no more than a spreadsheet, has now ventured into the world of cryptocurrency with his latest project. However, this unexpected move has not been well received by Zhao.
Roubini’s has ventured into launching a stablecoin. According to the project’s website, the Atlas Climate Token (ACT) is not just a digital investment contract, but an actual blockchain-based stablecoin. The stablecoin is designed to be pegged to a diverse portfolio of tangible real-world assets, including climate-resilient REITs, strategic commodities, inflation-hedged sovereign bonds, and gold, the project website reads.
The website also reveals that Atlas is currently in active discussions with top-tier ETF issuers and distributors to facilitate the launch of the ETF.
Taking to X, Zhao did not hold back in criticizing Roubini. “Some people are shameless,” he wrote.
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Why It Matters: Ironically, Roubini’s new crypto venture, Atlas Capital, highlighted the experience of one of its team members who had previously worked at Binance, seemingly using it as proof of their own credibility. This move did not sit well with Zhao.
Zhao accused Roubini of including the Binance logo on Atlas Capital’s website without permission. Since Zhao’s tweet, Atlas Capital has removed all external company logos, including that of Binance, from the “Team” page on its website.
Interestingly, during a CNBC live event in Abu Dhabi last year, Roubini did not mince words when describing Zhao. Referring to him as a “walking time bomb."
At the time of writing, Bitcoin BTC/USD was trading at $36,338.55 up 2.29% in the last 24 hours, according to Benzinga Pro.
Photo Courtesy: Wikimedia Commons
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