Andrew Left, founder of Citron Research and one of the world’s most famous short sellers, on Monday called cryptocurrencies a fraud. Said at a conference about fraud in the financial markets that I think crypto is just outright fraud over and over again.
New York, Agency. Andrew Left, founder of Citron Research and one of the world’s most famous short sellers, on Monday called cryptocurrencies a fraud. When asked about fraud in the financial markets at a conference where he saw potential fraud, Left told the audience that I think crypto is just outright fraud over and over again. He did not specify whether he has invested in cryptocurrencies. This information was given by the news agency Reuters.
Left built its brand as one of the most prominent short sellers, but last year announced that it would stop publishing research highlighting the shortcomings of other companies and would stop writing about those companies. They thought they might be worth buying. The move sparked protests against Left after video game retailer GameStop’s stock was not worth its price.
Reuters news agency reported last December that the US Justice Department had launched a detailed criminal investigation into short selling by hedge funds and research firms, including Citran, which has denied any wrongdoing.
When asked about the investigation, Left said, “As the Department of Justice, you know there is hope on this. One day development will realize that this boogeyman or short seller does not exist.