Nouriel Roubini recently unleashed a breakneck tirade against PayPal following its announcement of supporting cryptocurrencies. Roubini claimed that the move would damage PayPal’s customer base.
Roubini’s Twitter account also shared an article by David Gerard, another known crypto critic. In the shared article, David accused PayPal of “crypto gambling” and risking its customers.
Gerard went as far as to imply that the company has chosen to support cryptocurrencies to execute more scams in the customer base. Adding to the audacious claims, Gerard continues:
“I’m baffled that PayPal would offer this. Are they trying to get into the boring day-trader market that apps like Robinhood live off, except cryptos rather than stocks?”
Regardless of what the two critics mentioned the response to PayPal’s decision from inside the crypto community and had been far from being positive. It is mainly because of what many users perceive as flaws in the company’s cryptocurrency system. The only criticisms from industry insiders are the incapability of withdrawing crypto from PayPal’s proposed platform.
The frantic essay has also broadcasted the baseless conspiracy theories about the stablecoin platform, Tether. The most massive issue of Stablecoin on the internet, Gerard had accused Tether of market manipulation and other underhanded tactics. Roubini had also repeatedly criticized the platform that follows similar lines of attack, writing a piece of his accusation of Tether of masterminding Bitcoin’s June rally.
PayPal has ruined Roubini’s Week
PayPal’s conclusion to endorse and support cryptocurrency on the platform had caused Bitcoin’s value to spike to the highest that it has been all year. It is probably why the anger of Roubini and Gerard has been provoked so fiercely.
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