Home English News Citron’s Left says crypto is a ‘complete fraud’

Citron’s Left says crypto is a ‘complete fraud’

Citron’s Left says crypto is a ‘complete fraud’

NEW YORK (Reuters) – Andrew Left, founding father of Citron Research and one of many world’s greatest recognized short-sellers, on Monday described cryptocurrencies as a “fraud.”

Asked at a convention about fraud in monetary markets the place he noticed potential fraud, Left instructed the viewers: “I feel crypto is simply full fraud, time and again and over.”

He didn’t say whether or not he had investments in cryptocurrencies.

Left constructed up his model as one essentially the most distinguished short-sellers, however final 12 months introduced his firm would cease publishing analysis highlighting firms’ shortcomings and shift to writing about firms he thought is perhaps value shopping for.

The transfer adopted a backlash in opposition to Left after he stated the inventory of online game retailer GameStop was not value its value.

Reuters reported final December that the U.S. Department of Justice had launched an expansive prison investigation into quick promoting by hedge funds and analysis companies, together with Citron, which has denied any wrongdoing.

“As the DOJ, you recognize, hopefully, at some point improvement will notice that this boogeyman, or quick sellers, does not exist,” Left stated when requested concerning the investigations.

(Reporting by Carolina Mandl; Editing by Tomasz Janowski)

Source link