Cryptocurrency should be banned, according to the first Coinbase investor
Liron Shapira, 34, transformed a $10,000 investment in Coinbase into $6 million. Shapira described cryptocurrencies as "essentially useless" in a recent interview with Insider.
and declared that it "should all be shut down" — the ideal statement for someone who has stolen millions in the past.
Given the current condition of cryptocurrency, Shapira's viewpoint isn't wholly incorrect. He now wants to be "the Michael Burry of crypto," referencing to the fund manager who predicted the 2008 financial crisis.
Shapira was one of Coinbase's original investors in 2012, but he sold his stake in the company in 2021, long before the exchange's demise this year. Since then, he has been a vociferous opponent of the industry.
He said to Insider that "Twitter people accuse me of being bitter over crypto." He didn't miss the ferry, I secured the bag, but it still stinks.
Shapira has attacked cryptocurrency targets using his public profile, such as when he called Axie Infinity a "Ponzi scheme" on Twitter.