RT.com
02 Dec 2021, 04:13 GMT+10
Notorious financier Jordan Belfort, dubbed the Wolf of Wall Street, has blasted meme crypto coins, saying some of their creators should go to jail.
Belfort, who was played on screen by Leonardo DiCaprio in the Oscar-nominated movie 'The Wolf of Wall Street', told The Sun that cryptocurrencies such as Shiba Inu and Dogecoin are jokes that have neither value nor use. "People are taking advantage of an unregulated market and creating s**t coins which have no value and have no use," he said.
"You hear crazy stories of people making millions and billions but for every person like that there are 10,000 or a 100,000 people getting their a** handed to them in Shiba Inu. It's not a proper investment."
Belfort, who was jailed in the 1990s for stock market manipulation, also said those behind meme coins should be indicted. "People should go to jail seriously - they are not legitimate. There is no way they are ever going to work."
"The sooner governments step in the better it is for crypto because when authorities start to regulate a dark market, it gets bigger and better," Belfort said.
However, the disgraced trader, who is now a successful motivational speaker, praised blockchain technology, saying that he is a fan of it.
For more stories on economy & finance visit RT's business section
(RT.com)
Get a daily dose of Philippine Times news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Philippine Times.
More InformationWASHINGTON D.C.: The U.S. will participate in a joint military exercise in mid-October with India, less than 62 miles from ...
SEOUL, South Korea: South Korea has launched a domestically manufactured lunar orbiter that took off from Florida's Cape Canaveral Space ...
MOSCOW, Russia: A leading Russian scientist in the field of hypersonic flight, Dr. Alexander Shiplyuk, has been arrested on suspicion ...
LOS ANGELES, California: During a meeting that was disrupted by protesters this week, the Los Angeles City Council voted to ...
WASHINGTON D.C.: The U.S. Justice Department announced this week that former Puerto Rico governor Wanda Vazquez has been arrested in ...
OTTAWA, Ontario: Military trainers from Canada will head to the United Kingdom to teach Ukrainians new techniques for fighting the ...
WASHINGTON D.C.: Providing relief to drivers in the United States, the average retail gasoline price in the US fell below ...
NEW YORK CITY, New York: Walmart could sign a deal with Disney, Paramount, or Comcast, with the aim of breaking ...
MILAN, Italy: Milano Today has reported that seven years after launching in the country, American pizza giant Domino's has now ...
NEW YORK, New York - U.S. investors again plowed into stocks on Friday, many convinced inflation has peaked."Markets certainly got ...
TOKYO, Japan: Toyota has advised the owners of its BZ4X electric SUV to stop driving their vehicles and return them ...
WASHINGTON D.C.: The U.S.Department of Justice is reportedly preparing to sue Google as soon as next month, claiming that the ...