Nouriel Roubini: Most Crypto Is Vaporware Backed by Nothing, With Stablecoins the Only Use Case

Economist Nouriel Roubini said the overwhelming majority of crypto projects are “backed by nothing,” arguing that nearly two decades of blockchain development from Bitcoin has produced just one legitimate use case: stablecoins. Speaking on the BeInCrypto Expert Council podcast, according to BeInCrypto, Roubini said 80% of the 20,000 ICOs launched were scams, 70% of the rest lost all value, and even many surviving top tokens are down 50% to 60% from all-time highs. He said stablecoins work mainly as a payment rail but offer no real return.