Buterin Responds to Taleb’s Suggestion

The famous analyst said, “Get your money out of this cryptocurrency exchange…”, Ethereum founder Vitalik Buterin replied.

Nassim Nicholas Taleb, a Lebanese-American mathematical statistician and author of the book “The Black Swan,” advised investors and customers to leave Coinbase after the news that CEO Brian Armstrong had sold shares of cryptocurrency exchange Coinbase for more than $1.6 million.

Recently, news emerged showing that Armstrong sold approximately 29,732 Class A Coinbase shares worth $1,625,102 on Nov. The data was disclosed in a Coinbase filing with the US Securities and Exchange Commission (SEC). Armstrong also converted its Class B shares to Class A shares. Taleb believes this move points to the danger surrounding Bitcoin exchange Coinbase and warns people not to invest in the company.

In his tweet, Taleb said:

In response, Ethereum co-founder Vitalik Buterin denied Taleb’s claims that there was trouble within Coinbase as the reason behind Armstrong’s sale. Buterin highlighted the “psychological stress” involved in having nearly all of one’s net worth in an illiquid asset:

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published.