Jokes with no value: Wolf of Wall Street slams these cryptos

RT.com
01 Dec 2021, 23:43 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)

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Cape Town Express.

More Information

null in null

International

Section

New Hampshire federal court ruling defies Trump’s citizenship move

CONCORD, New Hampshire: A federal judge in New Hampshire issued a crucial ruling on July 10 against President Donald Trump's executive...

Houthis attack cargo ship in Red Sea, raising maritime safety fears

DUBAI, U.A.E.: A cargo ship flagged under Liberia, known as the Eternity C, sank in the Red Sea following an attack executed by Yemen's...

Trump administration restarts Ukraine arms deliveries

WASHINGTON, D.C.: The Trump administration has started sending some weapons to Ukraine again, just a week after the Pentagon told officials...

From France’s shores, desperate migrants look to reach British coast

ECAULT BEACH, France: On clear days, the white cliffs of the United Kingdom, are visible from northern France, where men, women, and...

CDC: US records 1,288 measles cases, most since 1992 outbreak

ATLANTA, Georgia: The United States is facing its worst measles outbreak in more than three decades, with 1,288 confirmed cases so...

Gaza War sucking life out of an Israeli generation

In the past month alone, 23 Israeli soldiers have been killed in Gaza—three more than the number of remaining living hostages held...

South Africa

Section