‘Big Short’ Investor Michael Burry Doubts SEC Has Resources or IQ to Investigate Crypto Listings on Coinbase Correctly

Hedge money manager Michael Burry, famed for forecasting the 2008 fiscal crisis, believes that the U.S. Securities and Exchange Commission (SEC) neither has the resources nor the IQ points needed to correctly analyse crypto listings connected Coinbase.

Michael Burry connected SEC Investigating Crypto Listings connected Coinbase

Famous capitalist and laminitis of concern steadfast Scion Asset Management, Michael Burry, concisely commented connected the U.S. Securities and Exchange Commission (SEC) investigating crypto speech Coinbase Tuesday.

He is champion known for being the archetypal capitalist to foresee and nett from the U.S. subprime owe situation that occurred betwixt 2007 and 2010. He is profiled successful “The Big Short,” a publication by Michael Lewis astir the owe crisis, which was made into a movie starring Christian Bale.

Commenting connected a Bloomberg nonfiction titled “Coinbase Faces SEC Probe connected Crypto Listings,” Burry tweeted:

Pretty definite the SEC does not person the resources oregon the IQ points to bash this correctly.

Bloomberg published the quality of the SEC investigating Coinbase Monday night, conscionable days aft the securities watchdog slapped a erstwhile merchandise manager of the speech with insider trading charges, naming 9 crypto tokens arsenic securities successful the process.

Coinbase instantly disputed the SEC’s allegation that it listed crypto securities. Paul Grewal, main ineligible serviceman astatine the Nasdaq-listed crypto exchange, tweeted Monday:

I’m blessed to accidental it again and again: we are assured that our rigorous diligence process — a process the SEC has already reviewed — keeps securities disconnected our platform, and we look guardant to engaging with the SEC connected the matter.

Burry does not remark connected cryptocurrency often. In November past year, helium confirmed that helium had ne'er shorted immoderate cryptocurrency. In October, helium said: “I judge that cryptocurrencies are successful a bubble.”

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