Article content

Cryptocurrency critic Nouriel Roubini, the economist who’s famous for foreseeing the 2008 financial crisis, is back in the headlines again, and this time it’s because he’s dissing digital money in front of the U.S. Senate.

In a scathing prepared testimony for a hearing on crypto and blockchain Thursday, Roubini read Bitcoin believers the riot act, calling virtual currencies “the mother of all scams and (now busted) bubbles.” He also fired shots at the technology behind digital tokens, which many believe is what holds the real promise.

We apologize, but this video has failed to load.

tap here to see other videos from our team. Try refreshing your browser, or 'The mother of all scams': Nouriel Roubini rips apart cryptocurrency in Senate hearing Back to video

“Blockchain is the most over-hyped technology ever,” wrote the New York University professor, who is also chairman at Roubini Macro Associates. “It is nothing better than a glorified spreadsheet or database.”