NEW DELHI: Andrew Left, founder of Citron Research and one of the most well-known short sellers in the world, called cryptocurrencies a “scam” on Monday.
Asked at a conference on scams in the financial markets where he saw potential scams, Mr Left told the audience, “I think crypto is just complete scams, over and over again.” Read more: Apple Releases First Public Betas of iOS 16, iPad OS 16
He did not say if he had investments in cryptocurrencies. Read more: Man Gets Access to Unreleased Google Pixel 7 Pro Prototype? Here’s the truth behind his claim
Left built his brand as one of the most prominent short sellers, but announced last year that his company would stop publishing research highlighting the shortcomings of companies and move towards writing about companies he believed in that they might be worth buying.
The move followed backlash against Left after he said video game retailer GameStop’s stock wasn’t worth its asking price.
Reuters reported last December that the US Department of Justice launched a full criminal investigation into short selling by hedge funds and research firms, including Citron, which denies any wrongdoing.
“As the DOJ, you know that hopefully one day development will realize that this boogeyman or short seller doesn’t exist,” Left said when asked about the investigation.