Crypto is an ‘absolute fraud’, says world’s most famous short-seller

New Delhi: Andrew Left, founder of Citron Research and one of the world’s best-known short-sellers, on Monday described cryptocurrencies as a “fraud”.

Asked about fraud in the financial markets at a conference where he saw potential fraud, Mr Lefty told the audience: “I think crypto is just outright fraud, over and over again.” Read more: Apple releases first public beta of iOS 16, iPadOS 16

He did not specify whether he has invested in cryptocurrencies. Read more: Man gets access to unreleased Google Pixel 7 Pro prototype? Here is the truth behind his claim

Left built his brand as one of the most prominent short-sellers, but last year he announced that his company would stop publishing research highlighting the companies’ shortcomings and writing about the companies they called. Thought they might be worth buying.

The move sparked protests against leftists after the stock of video game retailer GameStop was not worth its price.

Reuters reported last December that the US Justice Department had launched a detailed criminal investigation into short selling by hedge funds and research firms, including Citroen, which has denied any wrongdoing.

When asked about the investigation, Left said, “As a DOJ, you know, hopefully, one day Vikas realizes that this boogeyman, or short seller, doesn’t exist.”