--- title: "One of Coinbase’s First Investors Says Crypto Is Worthless and Should Be Shut Down" description: "After turning a $10,000 investment in mainstream cryptocurrency exchange Coinbase into a smooth $6 million, 34-year-old angel investor Liron Shapira has had enough. In a scathing new interview with Insider, Shapira lashed out at the wider cryptocurrency space, calling it \"essentially worthless\" and that it \"should all be shut down\" — which is rather convenient […]" date: "2022-09-08" modified: "2022-09-08" authors: - name: "Victor Tangermann" job_title: "Senior Editor" link: "https://futurism.com/authors/victor" url: "https://futurism.com/the-byte/coinbase-investor-crypto-worthless" categories: - "Blockchain" - "Cryptocurrency" - "Future Society" tags: - "bitcoin" - "cryptocurrencies" - "the digest" --- # One of Coinbase’s First Investors Says Crypto Is Worthless and Should Be Shut Down ![In a scathing new interview, early Coinbase investor Liron Shapira took a swipe at the cryptocurrency space, calling it "essentially worthless."]() *\Image: Rafael Henrique/SOPA Images/LightRocket via Getty Images\* ## Angel Dusted After turning a $10,000 investment in mainstream cryptocurrency exchange Coinbase into a smooth $6 million, 34-year-old angel investor Liron Shapira has had enough. In a scathing [new interview with *Insider*](), Shapira took a swipe at the wider cryptocurrency space, calling it "essentially worthless" and opining that it "should all be shut down" — which is rather convenient, it's worth pointing out, for somebody who already got away with millions. But at the same time, given the [current state of the crypto space](), Shapira's opinion isn't exactly without wrong, either. Now, he's aspiring to become "the Michael Burry of crypto," referring to the investment fund manager who famously predicted the 2008 financial crisis — and he's not pulling any punches. ## Get Out Shapira is one of the lucky ones, having bought into crypto early and then gotten the hell out before markets [went for a nosedive](). Despite making a bundle — Shapira was one of Coinbase's earliest investors back in 2012, but later sold his stake in 2021, well before the [exchange's collapse this year]() — the investor has become an outspoken critic of the space. "A lot of people on Twitter are accusing me of like, 'Wow, this guy's so bitter about crypto,'" he told *Insider*. "'He must have missed the boat.' No, I secured the bag. I just think it sucks." ## Axie to Grind Shapira has since leveraged his online presence as a way to bludgeon targets into the crypto space, like when he called Axie Infinity — which, sure enough, [imploded recently]() — a "[Ponzi scheme]()" on Twitter. "I've never been a crypto 'hater,' because this isn't emotional for me," he [tweeted today](), following his interview with *Insider*. "All I do is predict which tech looks promising. If I still thought that was crypto, I'd keep betting on it." Instead, though, he's now seeing the writing on the wall. "But now my bets are on crypto markets crashing," he added. **READ MORE:** [This angel investor made a $6 million profit after investing $10,000 in Coinbase. Here's why he sold his stake and now thinks all of crypto is 'essentially worthless.']() \[*Insider*\] **More on crypto:** *[Crypto Guy: Desperately Poor People Could Be NPCs in Video Games]()* ## Author I've been at Futurism since 2017, where my role has evolved to encompass design, writing, and increasingly editing. I've always been fascinated by space exploration and advanced transportation, which I've leaned into by interviewing luminaries in those fields while closely following the dimensions of policy and regulation that allow next-generation projects to succeed -- or, sometimes, to fail. I'm also keenly interested in the effects of generative AI on society, policies, and democratic institutions, as well as clean energy, physics and biology, and the vagaries of tech leadership. My work for Futurism has been cited by publications including Ars Technica, Gizmodo, PC Magazine, Jalopnik, Fox News, and the New York Post. I spent my childhood living in locations including Manila, the Philippines, and Geneva, Switzerland, attended McGill University, and now live in Toronto, Canada. Before Futurism I worked at AskMen and a small photography studio. In my free time, I'm an avid gardener, foodie, and craft beer lover, as well as a maker of artisanal hot pepper sauces. I have a magnificent dog named Freida. ### Author social links [Bluesky]()