Citron Research, the world’s second largest cryptocurrency with a unit Ethereum (ETH) announced that it maintains its downward stance on
“Ethereum Has As Much Logic Bugs as FTX”
The company is worth 130 billion dollars. altcoin The bankrupt stock market believes it contains as many “logical errors” as FTX.
Talking about the current crisis in the crypto money world, Citron said that this situation rekindled the company’s desire to short sell.
The famous research firm doesn’t seem to have much sympathy for the victims of the FTX debacle. “As for the victims or the account holders, you wanted decentralization, you got decentralized. What did you think about sending your money to the Bahamas?” he tweeted.
Citron Research founder Andrew Left, known as one of the most famous short sellers in the world, criticized cryptocurrencies as “a complete fraud”.
We continue to be short ETHER as we believe this $130 bil token has as many common sense flaws as does the whole SBF story.
— Citron Research (@CitronResearch) November 14, 2022
In 2017, Left targeted Grayscale’s Bitcoin Trust and criticized its valuation, calling it “ridiculous”.
However, Citron Research has warmed up to Bitcoin, arguing that it could serve as an excellent inflation hedge.
Citron Research has become a big name after a successful investment against Valeant Pharmaceuticals in 2015. It was revealed that the world-famous pharmaceutical company inflated its income with the help of private pharmacies.
Citron also started making headlines last year after being a part of the GameStop event.
*Not investment advice.
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