Although cryptocurrencies gain more supporters every day, they still continue to receive intense criticism. One of these critics was the famous writer Taleb. Taleb criticized Bitcoin on the Squawk Boc program he attended.
Taleb, author of the famous book Black Swan, said that tumors like Bitcoin are damaging the economy and criticized the modern economic environment:
"I think we have a 15-year Disneyland that basically destroys the economic structure. The Fed cut interest rates so much that it exceeded the target. You damage the economy, you create bubbles, you create tumors like Bitcoin."
Taleb also criticized the new generation for not understanding economic concepts. Explaining that he had previously invested in BTC, Taleb stated that he had "get rid of" all his Bitcoins in February 2021. In the same period, the author stated that the most important problem of Bitcoin is its volatile nature. Taleb later went so far as to say that Bitcoin is a "ponzi scheme."
Black Swan writer Nassim Nicholas Taleb also targeted Michael Saylor, who announced his retirement from MicroStrategy CEO last month. Tackling Saylor's departure, Taleb said it was just another nail in the coffin.
South Korea tries to revoke passport of Terraform Labs co-founder Do Kwon for faster deportation
The South Korean Ministry of Foreign Affairs stepped in to revoke the passport of Terraform Labs co-founder Do Kwon, following an ongoing investigation into the collapse of the Terra ecosystem. The Seoul Court issued an arrest warrant this week for Terraform Labs co-founder Do Kwon and five others. According to the latest development, the Seoul Southern District Financial and Securities Crimes Prosecutor's Office requested the Ministry of Foreign Affairs to revoke their passports in order to deport Do Kwon and five other South Koreans from Singapore.