Tue, 18 Jan 2022

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)

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