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First Coinbase investor says crypto is useless and should be shut down


Liron Shapira, 34, turned a $10,000 investment in Coinbase into $6 million.

In a recent interview with Insider, Shapira called cryptocurrencies "basically useless"

and said it "should all be shut down"  - which is perfect for someone who previously stole millions.

Shapira's perspective.isn't entirely inaccurate, given the present state of crypto.Now he wants to be "the

Michael Burry of crypto alluding to the fund manager who foresaw the 2008 financial disaster.

Shapira was one of Coinbase's initial investors in 2012, but sold his position in 2021, far before the

exchange's collapse this year. He has since been a vocal critic of the space.

"Twitter users accuse me of being resentful over crypto,” he told Insider. "He missed the ferry.' No, I secured the bag. It stinks."

Shapira has used his public profile to attack crypto targets, such when he branded Axie Infinity a "Ponzi scam" on Twitter.